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Gartner Estimates That 90 Per Cent of Large Organisations Will Have a Chief Data Officer by 2019
1,000 Chief Data Officers or Chief Analytics Officers Forecast in Large Organisations by the End of 2015, Up From 400 in 2014 / New CDO Programme at Gartner Enterprise Information & Master Data Management Summits 2016
"Business leaders are starting to grasp the huge potential of digital business, and demanding a better return on their organisations' information assets and use of analytics," said Mario Faria, research vice president at Gartner. "It's a logical step to create an executive position — the CDO — to handle the many opportunities and responsibilities that arise from industrial-scale collection and harnessing of data."
CDOs will face a number of challenges, to the extent that only 50 per cent will be successful by the end of 2019. One challenge is that the role will be new in most organisations and most new CDOs will be learning on the job. They will have the difficult task of creating an information strategy with relevant metrics that tie the activities of their team to measurable business outcomes.
"With the explosion of datasets everywhere, an important task is determining which information can add business value, drive efficiency or improve risk management," said Mr Faria. "The CDO's role will raise expectations of better results from an enterprise information management strategy, with stakeholders wanting a clear idea of the exact mechanics of making success a reality."
The confluence of high expectations and limited knowledge around information management by business users can make it difficult for CDOs to get the budget and commitment from the business they need to make their plans a success. "This raises a political aspect to the role — building trust and relationships in the organisation will be important to achieving success," added Mr Faria.
Many CDOs already report high levels of change resistance, particularly from the IT department, over the control of information assets and their governance. Successful CDOs, however, are doing a great job of working with the CIO to lead change and overcome resistance.
Gartner has six recommendations for new CDOs to help them overcome common challenges:
Create an enterprise information management strategy based on the organization's business strategy and predominant value discipline.
Work tirelessly to build trust with various business stakeholders, especially the CIO.
Educate senior leaders and peers about the role that data and information play in overall business success.
Establish baselines on information governance and data monetisation from which progress can be measured.
Tie quantifiable information metrics to quantifiable business key performance indicators to demonstrate tangible success.
Adopt formal information asset measures and share them with the organisation.
"It's important to account for the soft skills needed in the CDO role, whether you are applying or hiring for the position," said Mr Faria. "The success of a CDO will to a large extent depend on his or her ability to lead the change as well as gain the enthusiasm, support and resources of business leaders and other key business units."
Gartner clients can read more information management predictions and analysis in the research note: "Predicts 2016: Information Strategy." There are also more detailed guidelines for new CDOs in this article "First 100 Days of a CDO".
CDOs should attend the dedicated CDO programme at the Gartner Enterprise Information & Master Data Management Summits 2016 taking place in London, UK on 2-3 March and Grapevine, Texas on 16-18 March. You can follow news and updates from the events on Twitter using #GartnerEIM.
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