the health strategist
institute for
strategic health transformation
& technology
Joaquim Cardoso MSc.
Chief Research & Strategy Officer (CRSO),
Chief Editor and Senior Advisor
August 29, 2023
What is the message?
Data is a valuable business asset, and organizations need to recognize its importance and manage it effectively to drive positive business outcomes.
The article discusses the relationship between the Chief Data and Analytics Officer (CDAO) and the Chief Information Officer (CIO) roles in managing data as both a business asset and a technological resource.
Key points from the article:
Data as a Business Asset:
The article emphasizes that data is a critical business asset that needs to be managed strategically.
Despite executives acknowledging the importance of data, many companies struggle to treat it as an asset and derive value from it.
Challenges in Managing Data:
Managing and governing data is challenging due to its dynamic nature and its flow across different parts of organizations.
The article highlights that even though organizations are investing in data and AI initiatives, relatively few are effectively competing on data and analytics or have established a data-driven culture.
CDAO Role:
The Chief Data and Analytics Officer (CDAO) role has gained prominence in recent years, with more organizations appointing CDAOs.
However, many organizations still consider this role as nascent and evolving, indicating that there’s much work to be done to fully leverage data’s potential.
Business of Data vs. Technology of Data:
The article introduces the concepts of the “business of data” and the “technology of data.”
The former focuses on driving business results from data and involves responsibilities like analytics and business decision-making.
The latter involves the technical aspects of data management, including data extraction, transformation, cataloging, and delivery for analysis.
Collaboration between CDOs and CIOs:
The article stresses the need for collaboration between Chief Data Officers (CDOs) and Chief Information Officers (CIOs).
While historically there might have been friction between these roles, the increasing importance of data-driven decision-making and digital transformation has highlighted the need for them to work together.
Shared Responsibilities:
Successful organizations harmonize the efforts of the business and technology sides of data management.
CIOs are seen as custodians of data infrastructure, while CDOs are responsible for governance, data quality, citizen data science, and other business-centric aspects.
Cultural Factors as Challenges:
The article notes that cultural factors are the primary impediment to becoming data-driven.
Organizational alignment, collaboration, and a common understanding of data are crucial for effective data utilization.
CIOs and Data Transformation:
While CIOs may not manage all aspects of data programs, they still play a crucial role in the success of data transformation efforts.
Their expertise in technology and their involvement in digitization make them important change agents.
Appreciating the Dynamics:
To achieve success in data-driven initiatives, organizations need to appreciate and manage the dual dynamic of both the business and technology aspects of data.
In summary:
Data is a valuable asset that requires both strategic business-focused management and effective technological handling.
Collaboration between CDAOs and CIOs is crucial for successful data initiatives, and …
… understanding the interplay between the business and technology aspects of data is essential for achieving positive business outcomes.
Source: Forbes; The CDO/CIO Dynamic: The Business-Of-Data Meets The Technology-Of-Data; Randy Bean, Jan 12, 2022
