Big data has gone mainstream. An estimated 84 percent of organizations worldwide now believe data collection and analysis are integral to business development, according to recent research from the global information services group Experian. The firm also found that 95 percent of U.S.-based enterprises are using data to power operations. Together, these developments show that big data has transformed from a fad into the new normal.
Of course, this analytical sea change is bound to intensify further as increasingly affordable, easy-to-implement technology hits the marketplace. This state of affairs will force businesses with considerable data collection and processing systems in place to ratchet up these workflows, leading to full-scale integration – the final fusion of information technology and operations.
Many organizations are already preparing for this outcome by installing C-level leaders capable of managing the people and processes needed for large-scale enterprise data usage. Analysts at Gartner estimate that 25 percent of businesses worldwide have hired these individuals, most often called Chief Data Officers. But what exactly do they do?
Understanding the role
CDOs are responsible for developing and maintaining enterprise analytics strategies and the various variables that accompany them, Wired reported. Additionally, many spend considerable time advocating for the use of data in the executive suite and on the shop floor, a task that often proves difficult even in the era of big data. These leaders also manage activities centered on data security and compliance, meaning most must collaborate with Chief Information Officers, according to Gartner. Most are paid handsomely for their contributions, making an average of $192,000 per year, according to Payscale.
“Twenty-five percent of businesses worldwide have hired CDOs.”
Understanding the skill set
Like most technically-geared leaders, CDOs should be just as comfortable making connections and running meetings as they are sitting in front of a computer. On the technical side, analytical skills and programming chops are immensely important, as these executives must be able to leverage modern technology to develop data gathering, usage and governance models, CIO reported. Of course, CDOs have to perform these duties with larger business contexts in mind and tap into the strategical knowledge needed to implement their ideas.
Preparing for the future
Organizations looking to infuse their operations with data and ultimately future-proof their business models should consider bringing aboard CDOs sooner rather than later, as recruiting these forward-thinking leaders will only get more difficult as more businesses embrace big data. Is your enterprise ready to start searching for a CDO? Connect with YES Partners today. Our skilled executive recruitment consultants can put you in touch with transformative candidates with the technical skills and executive experience needed to move your business forward.
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