Image shows number of CXOs in USA for companies with >1000 employees. In other words, only ~5% have a Chief Data Officer (CDO). Yet, how many are undergoing “Digital Transformations” and/or trying to become “Data-Driven” and/or trying to leverage AI (which depends on (good) data)?
I believe that the CDO role is a huge gap at corporations and it presents a huge business opportunity; not to mention a probable necessity going forward in order to, just simply, compete.
If you segment just “Retailers”: CEO = 497 | CMO = 154 | CDO = 8
This means in Retail, only 1.61% of large retailers have a CDO!
My advice: Hire a CDO.
Here’s the ROI: We all know data is siloed. But instead of breaking silos, I see LOBs duplicating data across the org to suit their needs; thereby creating bigger silos. That’s a lot of duplicated expense and effort, as indiv LOBs protect their budget and interests.
Example, one company recently spoke with, Marketing and Analytics use Adobe Analytics. But Data Science chooses to use raw web logs.
A CDO can put the people, processes, and tech in place to streamline data across the org.
N.B. All #’s are from LinkedIn Sales Navigator, so probably not exact, but good enough for % analysis. Also, I included “Chief Analytics Officer” in the CDO category.