How to Set Yourself Up for Success as a Chief Data Officer in 2021
Many Chief Data Officers (CDOs) have a noticeably short tenure. The role of CDO is full of challenges as they often drive cultural and technical change. Unlike many C-level roles that have been around for a while, CDO is a relatively new position. Hence, many leaders and managers don’t fully grasp the support and resources that CDOs need.
Crucially, the leaders who step into the role of CDO underestimate the hurdles. CDOs are stewards for enterprise-wide data and are responsible for the organization’s data strategy, affecting every part of the company. Here are some essential tips to help you succeed as a CDO, especially if you recently got promoted.
Before you make sweeping changes, you must understand the current data situation. Explore the context: the reasons for existing decisions and the causes of previous failures. Every company is unique, and some constraints are difficult — but not impossible — to overcome. Hence you should fully understand the situation so you can challenge the assumptions.
To get the proper context, you might have to sit with data engineers who have been in the organization longer. First, you must understand the existing data: figure out how they gather, govern, distribute, analyze, and archive data. Next, dig into the reasons behind quirky decisions and failures. Your ability to understand the lay of the land, by and large, will determine your success as a CDO.
COVID-19 has further exposed data governance gaps in today’s businesses. In many companies, the leadership team is completely onboard with better data governance. Changes to data governance might include new data policies and a new company-wide operating model.
With data protection regulations in the mix, you have to work closely with legal as data governance program changes touch many parts of the organization, including external vendor contracts. Getting leadership’s commitment to data governance is necessary to drive adoption across all stakeholders.
One of the big mistakes new CDOs make is seeing the CDO role as a technical function and failing to secure the support of the C-suite. In hard times, when ROI is under the microscope, working towards the right goal is critical.
The CDO needs to secure the necessary support to usher in the right data management and governance changes. How do you know you’ve got the CEO’s support? If your deliverables are either part of or aligned with CEO’s or company’s yearly goals, you have a clear indication that you have leadership support.
A unified view of their data can be a great way to analyze corporate performance, financial planning, market share, and other important business metrics and functions.
