According to World Economic Forum- ‘Data is an economic asset like currency & gold’. Organizations have to become smart to use this valuable asset well. Many organizations are appointing ‘Data Scientists’ these days to leverage on Big Data benefits.Who owns the responsibility and drives initiatives for making the best use of the data, across systems, departments & locations. Shouldn't there be a single person to lead all Big Data initiatives from front…?
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Why enterprises need a CDO (Chief Data Officer)
1. Why enterprises need a CDO (Chief Data Officer)
-by Sanjay Abraham
Posted on June 3, 2013 • Posted in Uncategorized • Tagged Big Data, CDO, Chief Data Officer, Cloudera, Data
Scientist,Hadoop, Sanjay Abraham, techSocial
Enterprises today are striving to excel in the present competitive market environment. With the
advent of Big Data there has emerged a whole new focus & urgency to store, process & analyze the
exponentially growing data. Data is considered an integral part to an enterprise’s growth. This in
recent times is growing too fast. 90% of data we have today is created during last 2 years. Further it
is expected that Enterprise data would grow 650% over next years. Interesting part is 80% of this
data is unstructured. The challenge now before every enterprise is -how efficiently to use this huge
asset to make the enterprise better across functions like marketing, customer service, human
resources etc.
In
an
organization
the
CXO
bracket has the responsibility of
not
only
functions
driving
like
various
Finance,
Technology, IT, Marketing, Sales
etc from the top but also adding
business value to the function.
For example, the role of the CFO
is not just to see the ‘P&L’
accounts but also to see how the
financial resources are best used
to the
organization’s
welfare.
The CFO is a person not only
good at ‘number crunching’ but
also has the ‘Business Acumen’
to utilize the financial resources- to the best for an organizations present financial health and future
growth.
According to World Economic Forum- ‘Data is an economic asset like currency & gold’. Organizations
have to become smart to use this valuable asset well. Many organizations are appointing ‘Data
Scientists’ these days to leverage on Big Data benefits. Data Scientists are not expected to be the
generic analytics guys with some extra Hadoop skills. This role demands much more than that- as
Data Scientists not only ‘deduces or infer’ but also predict. They are not just reactive but proactive &