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Data-The Lifeline of Business and Its Future

Mar 26th 2015 at 4:57 AM

In the CDO summits in various developed countries, there is a wide focus on the lead roles like the chief data scientist, chief data officer and the chief analytics officer. The key objective is to focus on the growth of big organization because data is the main key as per the conclusion that has come so far leading to the emergence of such posts. One thing that is very important is the job descriptions because it is where the requisite skills can be properly explored. Besides this, it is also important to look at the various companies that are providing the job descriptions. In the year 2014, the panelists made a complete review of various kinds of posts in this area and their allocations have steered the growth ahead.

There are many leading companies of the world that have hired the CDOs and the names of some of the companies are New York Times, Deutsche bank, News Corp, Ford etc. Not only the companies but also the government departments of the cities like San Diego, Los Angeles etc besides universities like the University of Wisconsin besides many medical centers etc. As per the panelists, the sectors are now broadening in an aggressive manner and one should know that these come from the digital originals like Yahoo, Google, Netflix etc besides many regulated industries as well as the government organizations. Besides this, the new sectors are also having a prime focus on the data. Yes, media sector is focusing on the data in a much bigger manner.

As per the report of a leading chief information officer, there will be a major hiring of the CDOs in the economy of the entire world and this will happen in the coming decades. One thing to note here is that the infrastructure and technology provides two things. One is the competitive advantage and other is the strategic value. But to increase the strategic value, there is the need of the effective command of a chief marketing officer. To take all this effectively forward, there is the need of the C-level title. This will reflect the high tech importance as far as the posts like the CIO and CTO [chief technology officer] are concerned. Finally, one must know one important thing that is going to shape the world now. The thing is that data is the core strategic asset and not the infrastructure. In fact, data is lifeline of business.

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