Chief Digital Officer Conclave

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George Colony, CEO, Forrester Research

“If you can't understand the new world of digital, fire yourself. Build an executive team that is digital-first. Make sure there is a techie on the board of directors. If the board has a low digital IQ, the company will have a low digital IQ”

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• Customers are demanding fresh information and the ability to buy wherever, whenever and however they want.

• Consumers are leveraging their digital resources to download information, compare prices, find the best products and search for deals.

• Chief Digital Officer, a senior executive who sits at the right hand of the CEO and is seen as instrumental to the future of the organization. Source : Russell Reynolds Associates

WHAT IS A CDO AND WHY DOES THE ROLE

MATTER?

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• CDO needs to be someone who not only has digital acumen but also is a seasoned general manager who can operate within a large-scale business and influence effectively across the organization.

• The increasing importance of the role eventually will put CDOs in the queue for CEO succession.

• CDOs will be the executives with the operating experience, management skills, strategic mindset and vision to lead businesses in an increasingly technological future.Source : Russell Reynolds Associates


• CDO is now a “transformer in chief,” charged with coordinating and managing comprehensive changes that address everything from updating how a company works to building out entirely new businesses

• The number of people in CDO roles doubled from 2013 to 2014 and is expected to double again Source : Mckinsey&Company


The importance of the CDO is highlighted even more when you see that 60% of CIOs in global

organisations will be replaced by CDOs by 2020 (IDC research)


• 100 billion connected devices expected by 2025, leading towards a trillion sensor ecosystem

• In the last two years, we’ve seen 9 times more data created than in the entire history of humanity

• 1 billion digital natives will join the workforce in the next 7 years Source : Deloitte Digital - The Rise of the Chief Digital Officer

AN ERA OF DIGITAL TRANSFORMATION

Corporate Strategy Digital

Strategy

Corporate Strategy

DigitalStrategy

DigitalStrategy

Corporate Strategy

DigitalStrategy

2000 2008

2015 2020

Director, e-commerce Director, Digital

Chief Digital Officer No More CDO• Source : Deloitte Digital - The Rise of the Chief Digital Officer


• Organizational experts say growing tensions are driving the trend, as CMO’s and CIO’s clash more frequently about the questions of turf, innovation and accountability - Gartner

• According to Gartner, CMOs are predicted to outspend CIOs on tech by 2017

• Unlike CIOs, CDOs aren’t concerned with equipment or how data is moved, but rather where the data is going and how it’s used - Wired Magazine 2014

WHAT LEADING REPORTS SAY..


• 4 out of 5 executives are using digital technologies across IT, Business Operations, Finance and HR - Accenture survey 2014

• Companies that do not embrace digital will lose their competitive position and may face extinction, according to 88% respondents - Accenture survey 2014


The Chief Digital Officer will be the most exciting strategic role in the

decade ahead and IT leaders have the opportunity to be the leaders

who will define it. -Gartner


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