Tagged: analytics

Why does any organisation need a Chief Data Officer?

Facet Publishing are pleased to announce the release of The Chief Data Officer’s Playbook by Caroline Carruthers, Group Director for Data Management, The Lowell Group and Peter Jackson, Chief Data Officer, Southern Water.

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Most organisations now accept that data is a fundamental asset but the rapidly evolving role of Chief Data Officer (CDO) is still a mystery to many. Caroline Carruthers and Peter Jackson, two practicing CDOs, unlock these mysteries for the first time in The Chief Data Officers Playbook.

The book is a jargon-free guide for CDOs looking to understand their position better and for aspiring CDOs looking to take the next step in their career. It will also be valuable for chief executives, directors and business leaders needing to understand the value that a CDO can bring to an organisation, what they do, how to recruit one, where they should sit in the organisation and who they should report to.

The authors said,

“Data is a fast-moving and evolving environment and we get the sense that the pace of change is getting faster every month, perhaps every week. Our book is packed with strategies, tools and results of our real-life experiences which can help you leapfrog some of the mistakes we have made and learn from where it went well for us”.

The book begins by explaining why organisations need a CDO before moving on to cover key topics including, what you should do in your first 100 days as a CDO, building your team, how to break the data hoarding mentality, data and information ethics, delivering a data strategy in the context of business as usual, and how to recruit a CDO.

David Mathison, Chairman, CEO and Founder of the CDO Club, said,

“The release of this book is perfectly timed. The CDO Club tracks CDO hires globally, and last year alone the number of new CDO hires quintupled. The Chief Data Officer’s Playbookis a compendium of essential knowledge anyone operating in the current data environment must have”.

The book is available from Amazon and the eBook is available from eBooks.com

Follow the book on LinkedIn for updates and additional content

Browse a free sample chapter on the Facet Publishing website (click on the book’s cover)

Read Matt Corey’s in-depth review of the book here

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The Secret Ingredients of the Successful CDO

Guest blog by the co-authors of The Chief Data Officer’s Playbook, Caroline Carruthers (Group Director of Data Management, Lowell Group) and Peter Jackson (Head of Data, Southern Water).

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Compared to most of the C-Suite colleagues the CDO is faced with a set of unique problems. There are similarities, the CDO is a subject specialist, and in that respect is similar to the Chief Finance Officer, Chief Investment Officer or Chief Risk Officer. The CDO also operates across the organisation so has similarities to the Chief Operating Officer or Chief Accounting Officer. However, the CDO does have a unique set of challenges. More than anything, the role is still being defined and in the absence of certainty the assumption that the role will solve all the problems the organisation is facing. The Chief Data Officer in many organisations is a new role (the number of people in CDO roles doubled from 2013 to 2014, and probably doubled again in 2015 – Karl Greenberg, MediaPost2015), whilst the other C-Suites executives have roles and responsibilities which the organisation recognise and understand.

The Chief Data Officer is bringing a new dimension and focus to the organisation, ‘data’. All organisations will have used and depended on data for a long time, but the arrival of the CDO will be the signal that the business intends to be data driven, that data will have a new importance in the business, and that it will be pivotal to the future of the business. Most organisations will be demonstrating poor practices and bad habits in their collection, use, storage and command of data. So, the CDO will be bringing a new culture and regime and any change brings with it a level of fear.

To achieve this difficult task of changing culture across an organisation, and changing the way individuals and the business use and view their data, the CDO needs some unique qualities.

The CDO has to be a skilled communicator, able to speak to all levels of the business from the board to office floor. The real ability in the communication is two-fold: first, the ability to translate quite complex ‘data’ concepts and technology into the appropriate language for every level and face of the business; and second the ability to use communication to win hearts and minds.

The CDO needs to be a master at relationship building, they will need the support of fellow C-Suite to deliver the data strategy vision. The CDO will rely on other parts of the business to deliver much of the data strategy; IT to deliver the technology, Customer Support to deliver improved data entry. At times the CDO will need to go toe-to-toe with colleagues, but the most effective results will be achieved through good relationships.

These good relationships will be built on credibility. The new CDO must be credible to the board, colleagues and the business. The business must trust and have confidence in the new CDO. The CDO will be leading big, new ideas, and therefore must be credible.

Much of the credibility is founded on specialist data knowledge. The new CDO must know ‘data’ and have a thorough understanding of data governance, data management, data quality, data science, advanced analytics, data strategy and data technology. Perhaps not the detail that the data team will bring, but enough to develop the data strategy and create the bridge between the specialists and the board.

The CDO must be the cheerleader for data and have a driving passion that convinces other people of the value of data and a good data strategy.

The new CDO must be able to shift gear between tactical delivery and strategic planning for two reasons: first to avoid the ‘Hypecycle’, more of that in another article, it is important that the CDO delivers incremental value to the business; and second because they will need to identify the quick wins and easy fixes in the current data environment to stabilise and rationalise the current data environment whilst the data strategy is being rolled out.

The CDO will also need a sprinkling of luck. They will be faced with unexpected situations, difficult people, organisational resistance, institutional muscle memory, the proportions of these will depend on their luck.

Finally, and this probably falls across all of the above qualities, is the ability to recruit good people.9781783302574

The Chief Data Officer’s Playbook will be published in November by Facet Publishing.

Sign up to our mailing list to hear more about new and forthcoming books. Plus, receive an introductory 30% off a book of your choice – just fill in your details below and we’ll be in touch to help you redeem this special discount:*

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So why does any organisation need a Chief Data Officer?

Guest blog by the co-authors of The Chief Data Officer’s Playbook, Caroline Carruthers (Group Director of Data Management, Lowell Group) and Peter Jackson (Head of Data, Southern Water).

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Being a Chief Data Officer in the current climate is a rather interesting place to be, it can feel a little like dancing on quicksand while you have to learn to juggle wriggling snakes. So in order to help people interested in this area, whether you are a new CDO, well established data hero or just wondering what all the fuss is about, we have worked on a set of articles to answer some of the questions we are asked at nearly every conference we go to. While we can’t promise you a solution to all your data related problems handed to you on a plate, we can promise that once a week you can look forward to another concise, interesting and easy to read article to help you on your data and information related journey.

So why does any organisation need a Chief Data Officer? If it’s at the right level it is a big investment and they aren’t going to just come on their own, a team of some sort, even sourced from positions within the organisation, will cause disruption and potentially add cost and the company got along just fine without one before, right?

Or did they? We now have access to more data than ever before and we have all become kleptomaniacs when it comes to fact and figures. It doesn’t cost us much to keep it so why not keep it all – just in case. Only having so much of it means that not only can we not see the wood for the trees, we don’t value the wood anymore. We have lost the focus on why we are collecting data, what are we hoping to get from it and what benefits can we derive from it? In essence what are we going to get from it and why do it in the first place?

This ties into the concept of the information value chain; how does the information you use link into the value chain for the organisation? What end result are you expecting and what do you need to get there? This isn’t just about using the five whys, don’t stop at five, start asking question and don’t stop. The focus has to be on delivery and benefit. If collecting the data doesn’t deliver benefit – stop doing it! Keep your limited resources focused on doing what gives you benefits. The CDO gives you this clarity and direction for your focus.

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All of this is before you stop and look at the small mistakes that are happening on a daily basis that, when you add them all up, are costing your company time and money that you don’t want to waste. To give you a simple example, if someone in your sales department enters the wrong company name in the billing name field on the CRM such as ACME Ltd rather than ACME (UK) Ltd so an invoice is raised on 90 day payment terms for the wrong company and you don’t find out until day 89. So because the sales team made a tiny error it has cost the company 90 days cash flow. Or how about reputational damage because you stake your reputation on flawed data that you were convinced was right?

There are no single, big easy reasons to convince you to hire your first CDO but there are a million small ones that are happening every day – those are the reasons to hire your CDO.

The Chief Data Officer’s Playbook will be published in November by Facet Publishing.

Sign up to our mailing list to hear more about new and forthcoming books. Plus, receive an introductory 30% off a book of your choice – just fill in your details below and we’ll be in touch to help you redeem this special discount:*

*Offer not available to customers from USA, Canada, Australia, New Zealand, Asia-Pacific