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How to Become a Chief Data Officer - The 5 Golden Rules to Achieve Success

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How to Become a Chief Data Officer - The 5 Golden Rules to Achieve Success

Presentation delivered at DAMA Puget Sound on June 9th, 2015

Published in: Data & Analytics

How to Become a Chief Data Officer - The 5 Golden Rules to Achieve Success

  1. 1. Mario Faria 1 How to become a Chief Data Officer The 5 golden rules to achieve success Mario Faria June 9th, 2015 http://www.cdo-inc.com/
  2. 2. Mario Faria 2 About Mario Faria •  Mario was one of the first Chief Data Officers in the world •  Acting as a CDO for the last 6 years in North America, South America, Europe and Asia •  Passion : Bring order to the chaos •  Leader of teams working in Analytics, Data Monetization, Data Quality, Data Governance, Operations, Business Architecture and Digital Transformation •  Motto: “If you do not treat people, technology and data as economic assets, they will become liabilities” Mario Faria Twitter: @mariofaria Head and Chief Data Officer CDO, Inc. http://www.cdo-inc.com/
  3. 3. Mario Faria 3
  4. 4. Mario Faria 4 Objectives •  Understand the CDO role •  How you can become a CDO •  Develop a strategy to succeed •  Mobilize a cultural change in your company
  5. 5. Managing your most 2nd most important asset to drive business performance
  6. 6. In  1915,  The  Boston  Red  Sox  Babe  Ruth   pitching  debut  and  his  first  home  run,  but  …  
  7. 7. The  Rex  Sox  lost  to  the  NY  Yanks    
  8. 8. Your  data  strategy  is  a  journey  
  9. 9. Building  the  bridge   between  business  and  IT  
  10. 10. Mario Faria 13 A few problems in most organizations •  Data is fragmented and scattered •  Silos of information hanging around •  Like the truth, data has many versions •  The Data Lifecycle is a complex process •  Data projects being managed by IT •  A formal process to data management is a requirement in order to do Analytics
  11. 11. Mario Faria 14 Data is an abstract concept
  12. 12. The Data Life Cycle
  13. 13. Using Supply Chain Concepts and Techniques to manage your data assets
  14. 14. Mario Faria 17 The Data Value Chain
  15. 15. Mario Faria 18 Data & Analytics as a Production System
  16. 16. Mario Faria 19 The Deming Model : Production Viewed as a System
  17. 17. Mario Faria 20 More and more, leaders are being hired to think strategically about all the steps, from getting raw data and making it useful to the business users
  18. 18. On  the  Chief  Data  Officer  
  19. 19. Mario Faria 22 Chief Data Officer / Chief Analytics Officer Data Architect Data Quality Data Scientist Data GovernanceData Operations
  20. 20. Mario Faria 23 Data & Analytics Responsibilities •  Data Strategy •  Data Governance •  Data Quality •  Data Analytics •  Data Insights •  Data Architecture •  Data Acquisitions •  Data Operations •  Data Policies •  Data Security •  Data Protection
  21. 21. Mario Faria 24
  22. 22. Mario Faria 25 My first CDO role
  23. 23. Mario Faria 26 My second CDO role
  24. 24. Mario Faria 27 My third CDO role
  25. 25. Mario Faria 28 Chief  Data  Officer   (focused  on  data   management)   Chief  Digital  Officer   (focused  on  digital   transforma8on)   Chief  Analy8cs  Officer   (focused  on  decision   management  ini8a8ves)   The  ul8mate  leader  who   creates  and  executes  digital,   data  and  analy8cs  strategies   to  drive  business  value     Copyright:  Mario  Faria  2014   The  Chief  Data  /  AnalyRcs  /  Digital  Officer  roles  
  26. 26. By  2018,  30  %  of  all   corporaRons  will  have  a   Chief  Data  Officer  
  27. 27.   Becoming  a  CDO  
  28. 28. Leap  of  Faith  
  29. 29. Mario Faria 33 Golden Rule Number 1 : Find out the Why
  30. 30. Mario Faria 34 Simon Sinek
  31. 31. Defining  the  mission  
  32. 32. Mario Faria 36 Golden Rule Number 2 : Define a strategic vision and put a plan of actions in place to deliver it
  33. 33.   Create  a  long-­‐term     Data  Strategy  with   regular  short  term   deliverables      
  34. 34. Mario Faria 38 A few years ago, a bold plan …
  35. 35. Mario Faria 39 Golden Rule Number 3 : Select a strong Data Quality and Data Governance leader
  36. 36. Right  People   Right  Data   Right  Technology     Data  Quality  &     Data  Governance  
  37. 37. Without  Data  Quality  &     Data  Governance,  it  is   impossible  to  achieve  the   goals  of  increasing  revenue,   reducing  costs  or  gaining   operaRonal  efficiency    
  38. 38. The Data Quality & Data Governance Leader is the CDO best friend
  39. 39. Mario Faria 43 Golden Rule Number 4 : Secure investments and budget to implement the plan
  40. 40. Mario Faria 44 The critical path to success : Finding the right people
  41. 41. SelecRng  your  team  
  42. 42.  Find  the  individuals  who  their   personal  interests  are  aligned  with   your  defined  mission  
  43. 43.   Pu^ng  together  the  best  data   team  you  can  find  
  44. 44. Mario Faria 48 People Management Data & Analytics Domain Expertise Technology Skills for a Data Team
  45. 45. Mario Faria 49 Some important soft skills required •  Communication skills •  Curious •  Versatile •  Adaptable •  Comfortable in dealing with ambiguity
  46. 46. Mario Faria 50 Golden Rule Number 5 : Always deliver results (all the time, regularly)
  47. 47. Mario Faria 51 •  A good CDO can implement a data organization with success •  A great CDO has the ability to turn raw data into new 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
  48. 48. ImplemenRng     the  cultural  change  
  49. 49.   Data  &  AnalyRcs  is  quite  easy       Changing  behavior  and  culture   is  extremely  hard  to  achieve  
  50. 50.   ExecuRve  Support  
  51. 51. Mario Faria 55 From good to great Chief Data Officer
  52. 52. How prepared is your business to become a true data driven enterprise ?
  53. 53.   Access  the  data  maturity  level   of  your  organizaRon  
  54. 54. Conclusions  
  55. 55. Mario Faria 59 Golden Rules •  Find out the Why •  Strategic vision and a plan in place •  Strong Data Quality and Data Governance leader •  Secure investments and budget •  Always deliver results
  56. 56. Mario Faria 60 Lessons to Become a Successful CDO •  People •  Change Management (on going program) •  Culture •  Organization Model •  Processes •  Enterprise Architecture •  Quality and Governance •  and Data & Analytics, of course
  57. 57. Some bonus tips and recommendations
  58. 58. Mario Faria 62 Start where it hurts the most
  59. 59. Mario Faria 63 Celebrate success
  60. 60. Mario Faria 64 Learn from mistakes
  61. 61. Mario Faria 65 Be flexible and adapt to changes fast
  62. 62. Mario Faria 66 Aim high
  63. 63. Future  of  the  Chief  Data  Officer  
  64. 64. Mario Faria 68 Chief  Data  Officer   (focused  on  data   management)   Chief  Digital  Officer   (focused  on  digital   transforma8on)   Chief  Analy8cs  Officer   (focused  on  decision   management  ini8a8ves)   The  ul8mate  leader  who   creates  and  executes  digital,   data  and  analy8cs  strategies   to  drive  business  value     Copyright:  Mario  Faria  2014   The  Chief  Data  /  AnalyRcs  /  Digital  Officer  roles  
  65. 65. Mario Faria 70 “Business are complex systems, optimizing a single element rarely creates lasting value” Peter Drucker
  66. 66. Mario Faria 72 Thank you Mario Faria Chief Data & Analytics Officer - Strategy Advisor http://www.cdo-inc.com www.slideshare.com/fariamario Twitter : @mariofaria mario.faria@cdo-inc.com +1 (425) 628-3517

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