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How the Best Chief Data Officers Create Value - Harvard Business Review   

Despite the rapidly increasing prominence of data and analytics functions, the majority of chief data officers (CDOs) fail to value and price the business outcomes created by their data and analytics capabilities. It comes as no surprise then that many CDOs fall behind expectations and have short tenures. The authors conducted 17 in-depth interviews with CDOs who are largely considered to be at the frontier of the role. Based on the interviews, they synthesized where CDOs can create value and how they can measure and price it. Beyond strategies for creating and demonstrating value, they provide insights into qualitative and quantitative measurements that data analytics leaders are currently adopting.

Data is fast becoming an integral element of every decision, customer touchpoint, and internal process. The opportunities that come with greater data and analytics capabilities are apparent across the entire value chain — from customer-facing algorithmic tools that yield personalized recommendations to enterprise tools that automate applicant résumé screening. With data and analytics becoming important drivers for increased efficiency, better decision-making, and greater innovation, CEOs have started to invite a new member to their C-suite: the chief data (and analytics) officer (CDO).

Despite the rapidly increasing prominence of data and analytics functions, the majority of CDOs fail to value and price the business outcomes created by their data and analytics capabilities. It comes as no surprise then that many CDOs fall behind expectations and have short tenures.

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Want to accelerate software development at your company? See how we can help.

NUS School of Computing - Analytics from Data to Insights Programme


Truein


Want to accelerate software development at your company? See how we can help.

NUS School of Computing - Analytics from Data to Insights Programme


Truein












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