The Chief Data Officer: An executive whose time has come

Gigaom

I often ask people whether they know what Netflix, Harrah’s, Amazon and Wal-Mart have in common? The answer is pretty simple. They use data analytics to leave their competitors in the dust. Many other businesses are trying to do the same, spending millions of dollars on data software.

It takes more than a steep investment, however, to squeeze business value out of data. Companies have to establish an entire system to use data to drive competitive advantage. I believe that the head of this system should be the Chief Data Officer (CDO), an executive whose time to shine has finally come. The sooner businesses can empower a CDO, the sooner they can turn data into a business weapon to achieve business success similar to the aforementioned companies.

The data imperative

You simply can’t run fast in modern business if you’re not using data effectively. From logistics to gambling, every industry…

View original post 666 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s