data strategy

A seat at the C-level table for Data

Last week my company Penton Inc., announced the hiring of our first Chief Data Officer, Richard Stanton. Here’s the wire on that. For me, personally, this is very exciting news. This heralds a new dawn for data as a strategic asset. I had previously blogged that Data has finally become a first class citizen. Well, the role of the Chief Data Officer (CDO) nails that perspective.

Each organization has it’s own specific reasons and agenda for instituting the position of CDO. Penton is in the business of selling data products. Therefore, to me this is all about effectively competing with ¬†your most strategic asset, namely data. Data is now no longer a part of a system, it now becomes the focus.

Effectively competing with data also means strategically managing and delivering the data throughout the enterprise or organization.

However, the one thing that has not changed that is vital to the success of any endeavor is – the people. Embracing data and believing in it’s sustained value means that organizations need a “culture of data”. A CDO will play a crucial role in creating such a culture.