Chief Data & Analytics Officer - who are these new kids on the C-Suite block ?

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In the last 12 months, 70% of all the Chief Data Officers in USA were hired. CDOs are the new breed of professionals coming to the C-Suite. They are responsible for handling data as a key strategic asset. In this material, you will be able to understand how they work and what is required to be one successful Chief Data & Analytics Officer

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Chief Data & Analytics Officer - who are these new kids on the C-Suite block ?

  1. 1. Chief  Data  Officer  /     Head  of  Analy6cs  /     Lead  Data  Scien6st  
  2. 2. Mario Faria 2 Chief Data Officer (CDO) / Chief Analytics Officer (CAO) / Lead Data Scientist are the leaders enabling culture change to create a data driven organization
  3. 3. Data  Science       The  process  of  taking  raw  data,   producing  informa6on  from  data,   and  using  this  informa6on  to   guide  ac6ons  that  will  bring   financial  benefits  to  business  
  4. 4. Mario Faria 4 Chief Data Officer (CDO) / Chief Analytics Officer (CAO) / Lead Data Scientist •  A new profession that is becoming very common in corporations •  He/she is a corporate officer who is the business leader for enterprise-wide data processing and data mining. •  The CDO typically reports to the CEO or the COO and is a member of the executive management team of a company or business unit. •  CDOs leverage their organization's data assets to support the business strategy. He/she manages enterprise-wide data administration and is the champion of enterprise information management •  CIOs are very concerned with this new role, because of the threat to their current power
  5. 5. Mario Faria 5 The role of the Chief Data Officer A data scientist is the one who looks for insights The insight is operationalized in BI/DW products, by data architects The insight is shared with the enterprise The CDO or Lead Data Scientist is the executive responsible and accountable for the data life cycle inside the organization, managing the people involved in the data activities, such as acquisitions, analytics, processes, governance, quality, technology and budget
  6. 6. Mario Faria 6 “Organizations are about to be swamped with massive data tsunamis. The Chief Data Officer is responsible for engineering, architecting, and delivering organizational data success” – Peter Aiken, PhD
  7. 7. Mario Faria 7 The 3 Architectures a Company needs to succeed Business Architecture Technology Architecture Data Architecture
  8. 8. Mario Faria 8 The Chief Data Officer Role
  9. 9. Mario Faria 9
  10. 10. Mario Faria 10 A Chief Data Officer is the executive responsible to manage these areas
  11. 11. Mario Faria 11 Foundations of the Data team responsibilities •  Data Strategy •  Data Analytics •  Data Insights •  Data Architecture •  Data Governance •  Data Quality •  Data Acquisitions •  Data Operations •  Data Policies •  Data Security •  Data Protection
  12. 12. Mario Faria 12 How the Data Leader should implement Big Data projects •  Define what Big Data and Analytics mean to the organization •  Establish a data-driven culture inside the business units •  Adopt the most-suited technologies of business rules •  Put in place predictive analytics to build decision systems that are agile, analytic and adaptive
  13. 13. Mario Faria 13 At the end, on Big Data, a CDO and the team should •  Support the data initiatives, using the assets from different sources, with quality as a requirement •  Drive business insights, so the users can act promptly •  Execute his/her tasks fast, in real-time if possible
  14. 14. Mario Faria 14 The evolving CDO role will challenge structure, scope and power relationships between executive committee members. The scarcity of information leader talent will require executive leaders to develop it as much as hire it.
  15. 15. Mario Faria 15 The mind set of the Data Leader •  Handle data management is not a project, but as an evolving process •  He/she is there to break the data silos inside business •  Know to move from products to platforms •  Able to accelerate revenue by creating new business models and offers •  Speed up cycle time •  Work together with customers (internal or external) •  Create an agile and lean organization
  16. 16. Mario Faria 16 What is required to be successful as a CDO •  A CDO should also be accountable for business results, like any other C-Level executive •  A CDO must forge and sustain trusting, collaborative and effective sound relationships with other C-Level executives •  A CDO must avoid all technicalities when discussing business issues •  A CDO must become the bridge between business needs and technology possibilities •  A CDO has to make sure to work on issues that will have the most significant impact on the organization performance
  17. 17. Mario Faria 17 •  A good CDO can implement a data organization with success •  A great CDO has the ability to turn raw data into large revenue streams for the business •  Components such as technology and methodologies are important, but they are just enablers •  The CDO focus is delivering enterprise value to the business (not writing code or SQL scripts) From good to great CDO
  18. 18. Mario Faria 18 Salaries – Total Compensation a Year •  Chief Data Officers / Chief Analytics Officers / VP roles •  Low range of US$ 450K a year •  High end around US$ 2 million a year (financial services companies in NYC)
  19. 19. Mario Faria 19 Who am I ? •  MIT recognition as one of the first Chief Data Officers and Lead Data Scientists in the world (just Google “Mario Faria Chief Data Officer”) •  20+ years working with Information Technology, Management Consulting, Financial Services, Retail, CPG and Private Equity •  Proven expertise in Data Management, Data Science, Analytics and Supply Chain Management •  Speaker at several conferences on the subject in USA, Europe and Latin America •  Contributor to magazines and publications •  Big Data Advisor at the Bill and Melinda Gates Foundation •  Member of the MIT Data Science Initiative Reputation – Results Driven – Business Orientation - Relationship among C-Level Executives – People Management Expertise - Knowledge of the Data Market - Technology Understanding
  20. 20. Mario Faria 20 Thank you Mario Faria Chief Data Officer http://www.linkedin.com/in/mariofaria/ Founder of the Digital Mad Men www.slideshare.com/fariamario Twitter : @mariofaria fariamario@hotmail.com +1 (425) 628-3517

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