Chief Data & Analytics Officer - who are these new kids on the C-Suite block ?

Chief  Data  Officer  /    Head  of  Analy6cs  /    Lead  Data  Scien6st  

Mario Faria

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Chief Data Officer (CDO) / Chief Analytics Officer (CAO) /

Lead Data Scientist are the leaders enabling culture change to

create a data driven organization

Data  Science      

The  process  of  taking  raw  data,  producing  informa6on  from  data,  and  using  this  informa6on  to  guide  ac6ons  that  will  bring  financial  benefits  to  business  

Mario Faria

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Chief Data Officer (CDO) / Chief Analytics Officer (CAO) /

Lead Data Scientist

•  A new profession that is becoming very common in corporations

•  He/she is a corporate officer who is the business leader for enterprise-wide data processing and data mining.

•  The CDO typically reports to the CEO or the COO and is a member of the executive management team of a company or business unit.

•  CDOs leverage their organization's data assets to support the business strategy. He/she manages enterprise-wide data administration and is the champion of enterprise information management

•  CIOs are very concerned with this new role, because of the threat to their current power

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The role of the Chief Data Officer

A data scientist is the one who looks for insights

The insight is operationalized in BI/DW products, by data architects

The insight is shared with the enterprise The CDO or Lead Data Scientist is the

executive responsible and accountable for the data life cycle inside the organization, managing the people involved in the data activities, such as acquisitions, analytics,

processes, governance, quality, technology and budget

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“Organizations are about to be swamped with massive data tsunamis. The Chief Data Officer is responsible for engineering, architecting, and delivering organizational data success” – Peter Aiken, PhD

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The 3 Architectures a Company needs to succeed

Business Architecture

Technology Architecture

Data Architecture

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The Chief Data

Officer Role

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A Chief Data Officer is the executive responsible to

manage these areas

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Foundations of the Data team responsibilities

•  Data Strategy •  Data Analytics •  Data Insights •  Data Architecture •  Data Governance •  Data Quality •  Data Acquisitions •  Data Operations •  Data Policies •  Data Security •  Data Protection

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How the Data Leader should implement Big Data projects

•  Define what Big Data and Analytics mean to the

organization •  Establish a data-driven culture inside the business units •  Adopt the most-suited technologies of business rules •  Put in place predictive analytics to build decision systems

that are agile, analytic and adaptive

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At the end, on Big Data, a CDO and the team should

•  Support the data initiatives, using the assets from different sources, with quality as a requirement

•  Drive business insights, so the users can act promptly

•  Execute his/her tasks fast, in real-time if possible

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The evolving CDO role will challenge structure, scope and power relationships between executive committee members. The scarcity of information leader talent will require executive leaders to develop it as much as hire it.

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The mind set of the Data Leader •  Handle data management is not a project,

but as an evolving process •  He/she is there to break the data silos

inside business •  Know to move from products to platforms •  Able to accelerate revenue by creating new

business models and offers •  Speed up cycle time •  Work together with customers (internal or

external) •  Create an agile and lean organization

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What is required to be successful as a CDO

•  A CDO should also be accountable for business results, like any other C-Level executive

•  A CDO must forge and sustain trusting, collaborative and effective sound relationships with other C-Level executives

•  A CDO must avoid all technicalities when discussing business issues

•  A CDO must become the bridge between business needs and technology possibilities

•  A CDO has to make sure to work on issues that will have the most significant impact on the organization performance

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•  A good CDO can implement a data organization with success

•  A great CDO has the ability to turn raw data into large revenue streams for the business

•  Components such as technology and methodologies are important, but they are just enablers

•  The CDO focus is delivering enterprise value to the business (not writing code or SQL scripts)

From good to great CDO

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Salaries – Total Compensation a Year

•  Chief Data Officers / Chief Analytics Officers / VP roles •  Low range of US$ 450K a year •  High end around US$ 2 million a year (financial

services companies in NYC)

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Who am I ? •  MIT recognition as one of the first Chief Data Officers and Lead Data Scientists in the

world (just Google “Mario Faria Chief Data Officer”) •  20+ years working with Information Technology, Management Consulting, Financial

Services, Retail, CPG and Private Equity •  Proven expertise in Data Management, Data Science, Analytics and Supply Chain

Management •  Speaker at several conferences on the subject in USA, Europe and Latin America •  Contributor to magazines and publications •  Big Data Advisor at the Bill and Melinda Gates Foundation •  Member of the MIT Data Science Initiative

Reputation – Results Driven – Business Orientation - Relationship among C-Level Executives – People Management Expertise - Knowledge of the Data Market -

Technology Understanding

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Thank you Mario Faria Chief Data Officer http://www.linkedin.com/in/mariofaria/ Founder of the Digital Mad Men www.slideshare.com/fariamario Twitter : @mariofaria [email protected] +1 (425) 628-3517