Data will never be perfect. That means executives will always be somewhat frustrated with their organization’s data situation. But you can combat this.
. There is a clear need for CDOs to focus on adding visible value to their organizations.
So how can CDOs demonstrate that they’re creating value? The primary ways that data adds value to companies is through enabling them to understand and predict business performance and customer behavior, and embedding it into products and services — all offense-oriented initiatives. CDOs, then, must be able to help companies achieve value through better data usage and consumption.sponsored by Amazon Web Services that all three authors contributed to.
Manav Misra, the chief analytics and data officer at Regions Bank, ensures that each of the data products his team develops are successfully deployed and the value to the company carefully measured. For each data product they have quarterly steering committee meetings, at which the business team — the leaders of the business or functional unit that sponsored development of the data product — does the reporting, and Misra’s team attends the meeting.
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