Look who just joined the C-suite: Chief Data Officer
- Data management is a key corporate role and that’s reflected in the latest executive job title — the Chief Data Officer.
- The CDO joins another relatively new job title, Chief Marketing Technology Officer, as members of the C-suite taking on what traditionally has been a CIO or CTO role, marking the evolution of needs companies have as data takes on a more central role.
- In recent research a majority of U.S. CIO’s expect the data they are expected to manage to grow by a third over the next year.
Welcome to the C-suite Chief Data Officers! Reflecting the importance of data management for companies overall, and particularly marketers, the CDO joins the CMTO (Chief Marketing Technology Officer) as a new addition to the executive boardroom. Research from Experian Data Quality produced by Loudhouse Research found 57% of U.S. CIOs expect the amount of data they will be expected to manage to rise 33% over the next year. Forty percent of CIOs without a CDO expect their company to add that role in the next year and a half.
Even though new job titles, such as CDO and CMTO, impinge on traditional CIO turf, CIOs cited three main reasons why their company could use a CDO: the need for a consistent approach to take some risk out of data-driven projects; meeting increased regulatory and governance issues; and rising costs due to poor data quality.
May research by Econsultancy and Oracle Marketing Cloud found marketers see value in making use of data management platforms to take full advantage of all that data being collected from campaigns and on prospects.