Tips for Building a Data Science Capability

THE LEADERSHIP ANGLE
Harnessing the Power of Data
Through The Stand-Up of a
Chief Data Officer
Across government and industry, enterprises are realizing that they may
be sitting on a pot of gold waiting to be discovered—their enterprise data
and the insights it can provide. Many of these enterprises are responding
by standing up Chief Data Officer (CDO) organizations to enable them to
maximize the value from their data. This is an emerging and evolving
role that varies depending on whether related roles already exist in the
organization (e.g., Chief Data Scientist or Chief Analytics Officer) and how
integrated data already is carrying out the organization’s objectives
(e.g., whether data is the primary business/mission, data is a driver, or
data is a byproduct). Ultimately, a CDO must focus on the data assets,
understanding and marshaling them in support of the overall enterprise
strategy, and collaborating with other leaders (e.g., Chief Analytics Officer
and business line leaders) who will facilitate achieving the potential of
that data.
The best approach to fulfilling the CDO role is to be
two parts “data evangelist” and one part “enforcer”
by setting policy and developing technology frameworks/guidelines
while still allowing the data owners
and business lines to have the flexibility to implement
them in their own way. Starting small and
focused will enable the CDO to set the standard early
and evolve as the data and collaboration mature. In
doing so, a CDO faces a unique set of decisions with
answers that are not black and white. Fortunately,
there are five driving principles that can help a CDO
answer these defining questions outlined in the table
on page 28.
BE ROOTED IN THE ENTERPRISE STRATEGY
The CDO’s objectives must be rooted in the value he
or she seeks to generate. Enterprise-level priorities
and constraints (e.g., resources and regulations)
drive the need to identify the business and strategic
imperatives that are best met through the CDO