Putting a price on your head (of data): The ROI of a CDO
The chief data officer has become recognized as a key role in a financial firm’s ability to manage its data assets, and reduce costs and risk. So why is it also so notoriously short-lived?
It’s the biggest challenge facing chief data officers: placing a value on their own positions. In order to secure funding for ambitious (read: expensive) data management projects, they must demonstrate the value of good data quality for more than just the sake of good data quality. Thus, even though a CDO in a large organization may oversee an annual budget of more than $30 million, the average tenure of a CDO is just 2.4 years—barely enough time to get any significant data management project
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