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The role of Chief Data Officer will evolve in the coming years: CDAO 2018

The role of Chief Data Officer will evolve in the coming years: CDAO 2018

A quick summary of CDAO 2018

Chief Data & Analytics Officer (CDAO 2018) event by Corinium Digital was recently held in Frankfurt, Germany. It is a premier event for the European data and analytics leaders that explores the future of data analytics and how business leaders can use these analytics to chalk out successful business strategies.

This year too, the event saw a huge turnaround of attendees, that included 30+ thought leaders and 100+ data, analytics and insight decision makers who engaged in insightful sessions and 12 hours of networking.

The event focused on:

  • Identifying and evaluating the role of a CDO (Chief Data Officer) in an organization.
  • How data is becoming the primary driver of digital transformation across organizations?
  • How can organizations improve the data quality and maximize the potential of advanced data analytics?

Attendees were able to gain practical insights from data experts through various innovative sessions.

The two-day event saw some interesting sessions by data experts of leading organizations. Norman Stuertz in his session The Chief Data & Analytics Officer Role: Reinventing the Role to Meet Business Needs discussed about the role of CDO (Chief Data Officer) and how they must reinvent to meet the changing business requirements.

CDO is relatively a new-found executive role in organizations, who is responsible to:

  • Implement successful data management practices
  • Keep a tab on data governance and quality
  • Develop new tools and methods to manage vast amounts of data.

Per a forecast by Gartner, 90% of large-scale organizations will be appointing a CDO by 2019.

A CDO will play a strategic role in adapting, leveraging and transforming the enterprise and its external data ecosystems.

GDPR: Post Implementation

There was a panel discussion on GPDR implementation, and what changes it brought in data strategy post its implementation.

The panel talked about the top five concerns that organizations have regarding GDPR compliance. Amongst these concerns, not having the right tools to monitor data in real time, was the most common concern.

The panel said that to be GDPR compliant, organizations will need to ensure right level of competence and expertise. Organizations must understand the requirements of the GDPR regulation, and review, update and create policies to meet these regulations.

The event also discussed about data privacy issues and challenges, centralized vs decentralized data, data science vs data engineering, harnessing the power of prescriptive and predictive analytics, increasing role of commercial analytics, cognitive technology development and adoption, and the role of AI and machine learning in data analytics.

CDAO 2018 helped attendees gain practical insights from the data experts and learn skills to optimize data management, governance, analytics, data quality, data visualization and latest technologies.

Follow us @wire19s to stay updated on the latest technology trends.

 

Source: The State of Data and Analytics in Europe report by Corinium Digital. Download it from here:  https://www.coriniumintelligence.com/insights-the-state-of-data-and-analytics-in-europe

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