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The chief data officer’s (CDO’s) mission has shifted from risk mitigation to creating business value with data assets. Although appointment as a CDO does not guarantee success, we offer 10 best practices you can apply to transform your enterprise into a data-driven organization and address the following key challenges:
- Data and analytics leaders may not recognize that the definition of data and analytics success is to become an enterprise engine of value creation.
- Culture and data literacy are the top two roadblocks for data and analytics leaders.
- “Information as an asset” is a popular idea, but a scarcity of asset management standards, unfamiliarity with data monetization and a lack of experience prevents data and analytics leaders from driving value from data.