Chief Data Officers: A Roadmap to Capitalize on the Time Ahead

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Learn about the challenges and opportunities facing data directors these days and how to capitalize on them.
m the moment organizations began to be data driven , that is, guided by the intensive use of data generated by the operation itself, different roles began to emerge: analysts, engineers, scientists (graduates in Data Science) and directors. What are the challenges for CDOs ( chief data officers ) according to the 2023 predictions and what we are seeing recently?


With the spread of countless technologies to collect, centralize, protect, analyze, share and monetize data, digital transformation revolves around that information and, therefore, puts those who govern all that data management in a position of maximum centrality.



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According to a survey of more than 400 companies self employed database by Melbourne Business School (United States), companies that are more efficient in data analysis and monetization generate 60% more profits than those that have not yet made progress in this regard.

Source: Fortune Business Insights



Chief Data Officers: How to Increase Business Impact?

Roadmap to success
Sunny Bedi, CIO at Snowflake, says that the role of data directors is increasingly being revalued at management levels; however, he highlights the importance of these executives having a proactive attitude towards their colleagues to show them the value of using data and achieving what was unthinkable until recently.

On the other hand, it is clear that everything that is happening in the world of data is driving and accelerating the overcoming of the era in which information silos existed. Data lakes enable virtually centralized storage to access and democratize data , enabling new user experiences and business opportunities.

Data monetization is set to take center stage. Once the stage of making data available for core business initiatives and training staff to make the most of data has been overcome, modern data sharing and collaboration technologies support the viability of transforming data into another source of income in a data-economy scenario .



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How to be a data-forward business and lead the data economy?





Data-forward enterprise data management trends indicate that specialists prefer to work with unified cloud platforms that include all the functionalities necessary for data science and machine learning tasks . This allows them to have the capabilities to classify, perform role-based access control (RBAC), catalog, curate (work on quality) and manage data availability, all within a single environment.

On the other hand, just as the idea that any professional should start to consider learning programming is growing , business intelligence ( BI) experts should consider learning some Python or other languages, since they need to have the ability to provide themselves with solutions that resolve the very diverse searches for information that they may need to know what is happening, why it is happening and what can or should be done.

Identifying environments for rapid development of data-driven applications in the cloud will allow organizations to create their own line-of-business (LOB) applications and even market and monetize those developments, thereby reinventing the software-as-a-service (SaaS) model.