Who is guarding your companies data goldmine?
In the last couple years the diversity within the Executive Committees around the world has increased enormously. From the normal standards such as a CEO, CFO and CIO as we all know, we have to take in count that there are a lot more “C”s added. Recently I came across a (for me) new kind of “C” a so called CITO (Chief information Transformation Officer). There is always a new kid on the block, right…
Usually the CIO is still in charge as it comes towards the IT landscape of companies. They manage the whole spectrum. But the real question is; are they able to manage the whole spectrum? And how about the data? In my humble opinion; they should not want to manage the whole spectrum.. When data is recognized as the companies goldmine and a strategic asset, leave it to the treasurer of this goldmine; the Chief Data Officer.
For me it is clear. Data is a strategic asset and your companies goldmine! It should be kept by the treasurer from now on the CDO (Chief Data Officer) which in my opinion must be responsible for maintaining the quality of the data and increasing the value of it.. Several questions are lying on his or hers desk: Is the masterdata accurate? Are we able to adapt to changes quickly? How can we improve our time to value? How does Big Data affects the company and how can we use it? All these questions must be addressed to the CDO. Obviously every company is different and so are the sources where the data is coming from.
Eventually the mission is giving back “business information” to the “business” in order for them to make the right decisions whom are based on the reliable and valuable data that comes from the “Office of the CDO”