Data, regardless of form, format and type, has quickly become the assets of the company's most strategically important; data assets has become a strategic business insight and resources can be formed advantage, volume of data, diversity and complexity is also exponentially increase. Just like other important business assets, data requires proper management and governance to ensure that it is understood and the potential value play. For these reasons, in recent years produced Chief Data Officer -CDO this new position designed to help businesses protect data and unlock the full value of the assets.
A, CDO functions
Enterprise data strategy guidelines and floor support, attention to the collection, treatment and management of data assets to protect critical data quality, efficiently manage enterprise information assets.
From the enterprise perspective view, focus on strategic value and application of scene data, data get through the barriers, so that data can be easily cross-sectoral and cross-functional in circulation, promote better data in the enterprise and consumer use.
Layout data ecosystem, and encourage enterprises to adapt to the digital transition, rapid innovation of large data, artificial intelligence, the block chain automation.
Upgrade management strategy to deal with the new situation under the supervision of the data, data reporting, data privacy, security, compliance, share exchange, etc., to enhance the organization's needs in response to regulatory and security fields.
Gets the value of the data content of the initiative to support the business through data analysis. The use of emerging technologies to generate executable data analysis and insight into tangible business profits.
1.1 Role
Second, the data related to the role
Within the enterprise, there is a variety of roles with specific data. How do these roles, their positioning different? Let Discrimination under.
2.1 Chief Information Officer -CIO
To build a technology ecosystem interoperability by evaluating and establishing links between different departments of enterprises.
Evaluate and invest in enterprise-class platform and application authorization, such as: visualization tools.
Control of complex multi-source suppliers environment and reduce the risk of downtime and failure, and optimization services.
By Presidential executives and other working closely with the scalability of the technology embedded in various areas of operations management, redefining IT.
2.2 Chief Data Officer -CDO
The governing bodies work items data management and data analysis.
Through the establishment and implementation techniques, tools, building working models and processes, to unlock the value of corporate data assets.
The data as a strategic asset to manage the implementation of data governance, data quality control and other companies to maintain data integrity.
Become a trusted partner of customers and marketing, enterprise risk management, regulatory compliance and other business executives in the financial field.
Advantage of emerging big data analysis techniques and foster innovation.
2.3 Chief Digital Officer -CDO
By using digital technology to provide insight into the field of customer risk, channels, etc., as well as suggestions on how to improve.
Mobile applications, social media, financial technology, networking and other technology, innovative business models, the traditional migration process.
With innovation and development preferences, including teach and inspire other stakeholders in the organization.
Tour of change can contribute to digitization in internal and external organizations.
2.4 Analysis of chief officer -CAO
Operations Evaluation of the most suitable operating mode of realization of the method and data.
Analysis across blueprint strategy, people, processes, data and technology within the definition and mapping enterprise.
Heavily involved in business change required business transformation and training will be analyzed into the corporate culture, the formation of insight-driven organization.
The ability to keep your business at the forefront of the development and application of data and insights organizations to promote future projects.
Three, CDO value of the company
An excellent, forward-looking force chief data officer and a chief data officer can understand the potential value and properly authorized organization together, can bring the most value for the two sides to produce.
1) strengthen the technical and data management
Authorized a chief data officer responsible for the company's strategic information management plan. After this respect, Chief Data Officer to assist and guide enterprises to develop the capacity of investment direction, and eliminate information silos and redundant information, accelerate data quality validation and repair, lowering the total cost of manual data imputation, the company can bring real of the financial benefits.
2) reduce business risk
Chief Data Officer all the data related to activities in the same "umbrella" lower, and with the appropriate control node, such as: data control and management, the flow of data quality, master data management and metadata management, thereby achieving the overall governance of the data. At the same time, the effectiveness of its management brings higher quality data, better data consistency, easier tracking of data manipulation, and reduce the cost of internal monitoring and review of compliance improvement Regulatory also had a role.
3) increase business value
Chief Data Officer improve work efficiency and the efficient use of data, so that business operations across the enterprise to enhance and add value. Chief Data Officer by allowing business people to use their own data, and data to achieve universal realization of data, through a wealth of data analysis tools and models to build business insight advantage. These efforts will ultimately helping businesses innovate business models and partnerships with industry or cross-industry organization, insight into customer behavior and customer retention panoramic view involved, improve customer service and sales channels in all contacts to help companies understand new business opportunities.
Four, CDO capacity requirements
Led by a Chief Data Officer mature companies can greatly show and actively contribute to enhance data management capabilities to provide critical business intelligence insight required to meet, including financial, risk, marketing, sales, compliance, product development, human resources and other operational needs. To do this, the key is, Chief Data Officer needs to have influence in the organization that match, and this corresponds, chief data officer must have the necessary operational, technical and managerial skills, as well as others often do not have the experience.
4.1 Skills / qualifications
1) experience in the field
Complete control of certain industries (such as finance, insurance, medical, transportation, energy, etc.) knowledge, including expectations and needs of business-critical, customer interaction and other internal and external stakeholders.
2) IT background
Exhibit information management and quantitative analysis skills, including experience in the IT infrastructure, various technologies / platforms, the ability to negotiate with suppliers, leading the construction of business-critical systems.
3) quantification of thinking
Able to build a business case and typical system performance indicators to demonstrate business value, in order to obtain project funding / resources and the ability to measure business value.
4) Business Perspective
Proficient in covering the risk, the intersection of finance and customers to drive business value, there is a full understanding of the regulatory environment, and can effectively use data to implement compliance and risk management.
5) Project Leadership
Understand the organization design, and the ability to manage and promote large-scale, cross-functional, multi-stage project, the integration of people, technology, processes and tools form a long-term strategy and quick-win results.
6) communication skills
Data can promote the organization and implementation of strategic routes, and training for the interests of multi-level stakeholders corporate data on the intrinsic value inherent in the company, and as agents of change corporate culture to get rid of the inherent resistance.
4.2 personal qualities
1) enthusiasm
Have to defend the data as a strategic business assets, determined leadership can bring a lot of new revenue opportunities for the company.
2) insight
It can be identified by the strategic vision of new business models, development of technology and the opportunity to capture field data, avoid potential risks, organizational innovation and can promote the formation of long-term competitive advantage.
3) Disruptive
We have put forward new ideas and controversial topic confident and have the attitude of confrontation resistance, continue to promote to promote change.
4) cooperative
Willing to be a "bridge builder" and as a facilitator to various sectors of the island matchmaking, coordination mechanism construction business and technical co-ordinate efforts of all parties to promote the formation of measurable business outcomes.
5) Agility
Ability to quickly converted into commercial value, to be able to build a "framework" by implementing solutions with a pragmatic approach, showing the value of data, and to avoid the lengthy process of touch with the front-line business.
Six, CDO challenges
1) lack of knowledge
The company's management, it is easy to underestimate the organizational data assets, effort and time required to build the capacity of data applications. In addition, management may not be able to understand the commercial value of the post beyond compliance requirements. As long as there's chief data officer, and limited support staff, chief data officer alone can solve the problem single-handedly. But in fact, the first job is chief data officer of development planning and implementation path and convince others to complete the work.
2) driving is not strong
For sectoral silos of data often exist, they would think that enterprise-class data management work will bring unnecessary interference, while ignoring the potential benefits of this management style may bring. Even be regarded as processes and resources for his own department is a threat (including financial and personnel matters).
3) cost pressures
This position may require the establishment of a number of elite teams, regardless of the cost, or the recruitment pressure will bring some challenges. If the Chief Data Officer lack of sufficient budget, staff or prestige, he needs to convince the various business units, back office and IT departments to provide additional resources; but it also brings extremely difficult to promote implementation.
4) Development unknown
Bring business cycle work priorities change, and executives to focus on short-term, low-cost high-income business objectives, are likely to affect investment and finance to bring long-term competitive advantage needed to efficiently Chief Data Officer stand by.
5) fast iterative technique
Both the number and complexity of managing ever-increasing data; keep up with the accelerating IT innovation, and inventory systems to solve complex problems.
6) Trust Collaborative difficult
We need to build a relationship of trust with senior management level, pave the way for collaborative work. In particular, need to match the CIO and CTO of planning to ensure the technology roadmap in line with global vision, and have priority to adapt.
Seven, how to play CDO value
1) make a truly executive CDO
Let's chief data officer to be a true president-level executives. Although the president's chief data officer hanging from a title, but often placed too low in the internal hierarchy president, but difficult to play a substantial impact. Some companies report lower levels to set it is located, CIO or CTO; some other places, Chief Data Officer at the business side, located CFO -CFO, or chief risk officer -CRO, or Chief Marketing Officer - under CMO, since the data is understood to be a business, "control", rather than IT.
Industry-leading practices may be inclined to Chief Data Officer reporting directly to chief operating officer -COO, to ensure that the Chief Data Officer to maintain neutrality between business and technology. But in fact, this is not a radio standard answer. Since the position of Chief Data Officer will depend on the size of the organization, complexity, maturity and internal or external considerations.
In fact, the chief data officer needs to play a position of maximum influence, both within the enterprise data to consumer data availability, integrity, quality and reliability. Role as a sustainable development, Chief Data Officer will continue to enhance reporting to CEO, CFO, COO, and the data transfer is an important priority of operational matters, not just an IT job.
2) The data management as a strategic move
Issued a top-down signal, clear and efficient, enterprise-wide data management is a strategic move imperative. Employees within regular executive remarks will support a wide range of organizations to send a clear signal: Chief Data Officer has the responsibility and the necessary approval to manage innovation and help businesses clear direction to unlock the intrinsic value of its information assets.
3) a clear boundary work
Think ahead and draw the boundary work. It is necessary to consolidate the positive relationship between the Chief Digital Officer and Chief Technology Officer -CTO, chief information officer of -CIO. Because the company's business line data is missing or inadequate resources or leadership related to the agenda in the traditional sense, and technical experts have compiled data dictionary, the application of analysis technology. When Chief Data Officer gradually began to assume these responsibilities, it is a contradiction. With the guidance of the Board and CEO of requirements, these jobs may collaborate with each other, to jointly tap business value from technology and data resources agencies.
Eight, CDO development direction
CDO this role, there is not long, but it has gone through several stages. Future speculated that this role over time, its mandate and management dimensions vary, but one thing seems certain: Chief Data Officer, as companies become more aware of the data is its potential DNA, and continue to be an important and challenging role, and will explore in depth the value of data assets to create new profit growth point for the enterprises, and improve the return on stakeholders.
The first stage
Typical data management mainly focus on regulatory and data governance practices, including metadata, data management, data management, data quality. Upper dominated by typical data warehouse and reporting applications.
second stage
Data analysis to take on more responsibilities, in addition to the delivery and management of data, but also to gain business value through the use of data analysis. In addition, the focus on the use of emerging technologies to solve innovative ideas and data analysis challenges.
The third phase
The company developed into a true enterprise data assets, emphasizing the strategic business growth, costs, risks and compliance. Data consciousness, driven analysis, the establishment of "insight-driven organization."
Author: Han Feng
Starting in the number of personal public "Han Feng channel."
Source: CreditEase Institute of Technology