S3 | Ep 6 | The Struggles of the Chief Data Officer with Randy Bean, Founder, NewVantage Partners (A Wavestone Company)
In Episode 6 of Season 3, of Driven By Data: The Podcast, Kyle Winterbottom is joined by Randy Bean, Founder of NewVantage Partners (A Wavestone Company), where they discuss the struggles of the Chief Data Officer, which includes;The average tenure of the CDO TenureThe increase in organisations that believe the CDO role is established and successful over the last 2 years The future of the CDO role A shift from reporting into Technology Stats behind the challenges that organisations face in becoming data-drivenWhy businesses shouldn’t be making investments in data without being able to quantify the business value What CDO’s need to do to be effective What the most successful CDAO’s do The gap that most organisations have between the data capabilities and the ability to use them How the language you use demonstrates your credibility Navigating the risks of an economic downturn The role of lip-service in Data & Analytics Finding the balance between innovation and ethics Why data isn’t a substitute for human judgement Whether it's possible to quantify value that isn’t related to financial returns The skills businesses should look for in a CDAOWhy Data Leadership is an art, not a science The importance of organizational readiness Navigating reporting lines and organizational structures Advice for aspiring CDAO’sWhy operating in the C-Suite is an additional set of skills beyond Data & Analytics