How to be a Successful CDAO in 2022

The skills and traits needed to deliver results as a Chief Data or
Analytics Officer, according to two of the world’s top data-focused
executives

Data leadership is evolving constantly. But with Harvard
Business Review reporting that the average Chief Data Officer’s
tenure is just 2.5 years, it’s clear that many of the executives
who hold these positions aren’t meeting expectations in these
notoriously demanding roles.  


As Sarah Gadd, Head of Data and AI Solutions at investment
banking giant Credit Suisse, says, the breadth of skills required
to lead data-driven business transformations means it takes a
very specific type of leader to thrive as a CDAO.


“What strikes me is that it’s almost like looking for the
unicorn,” she says. “Maybe that’s why we’re so short-lived.”


This week on the Business of Data podcast, Gadd and Aleksandar
Lazarevic PhD, VP of Advanced Analytics and Data Engineering at
tools manufacturer Stanley Black & Decker, share their views
about what it means to be a successful CDAO in 2022.
What it Means to be a CDAO

The responsibilities of a CDAO will vary depending on the type of
company they work in. As Dr Lazarevic says, how an organization
has used data historically will impact what kind of leader it
needs.


Companies that have data and analytics in their DNA, such as
Google, Amazon or Meta, are at the most mature end of the
spectrum. Their data-driven business cultures mean that their
data leaders can act as strategic advisors to other company
executives.


Dr Lazarevic explains: “[The] role of the CDAO is not necessarily
someone to lead a single organization and lead all the efforts
across the whole company, but rather someone who is accountable
for strategic initiatives where the company should invest in
data, AI [or] machine learning.”


Companies in sectors such as financial services sit in the middle
of the data maturity spectrum. They are used to using and storing
data, but generally only as a by-product of other business
processes. Data leaders in these companies need to promote
awareness of data-driven ways of working and a culture of
adopting them.


Finally, there is everyone else. While most enterprises aspire to
becoming data-driven, many start their journeys with very
low-quality data and a poor understanding of how to store and use
it. Data leaders in these companies must start with the basics
and hope to pivot their attention to digital transformation once
they’ve laid the right foundations.


“Typically, in these companies, they don’t have data culture,” Dr
Lazarevic says. “[The CDAO role is] much, much broader, and I
think that’s why many companies fail to define [it well].”
Essential Skills All CDAOs Must Master

In 2022, a growing number of enterprises are looking to move
beyond the initial phases of their data and analytics strategies
to drive enterprise-wide business transformations. In these
companies, data leadership roles are transitioning from
technology-focused positions to ones that are business-facing and
involved in steeri