Tag Archives: CDO

Is there a difference between a Chief Digital Officer and a Chief Data Officer?

24 Tuesday Feb 2015

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For me, this question is like looking at two different angles of a prism.  Both sides admit that the digital transformation of the enterprise (of ANY size) means that the digital assets of the business require closer attention, and the infrastructure to do business is critical.

But for me, the Chief Digital Officer is more of a focus on the processes of the organisation, and the Chief Data Officer is more of a focus on the precious assets of the business.

I am an information economist by training, so I go back to the Theory of the Firm, in which all elements are contracted relationships — except for the firm’s data.  The data is the critical asset that in context belongs to the firm and its processes, and its usage and management are a key function of how a firm makes money, utilises resources and maximises profit.

Is the organisation looking to leverage its assets in more productive ways?  Or is the organisation trying to streamline how business is done, not only for more marketing automation, but for a richer and deeper relationship with the customer?

Two-sides of the same coin, which is why the terms CMO and CIO have morphed into CDO, for which many do not agree with what it means.

Just my humble opinion.  😉

 

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Prediction check: 2014 review, and 2015 predictions

15 Monday Dec 2014

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What did I say would happen in 2014?  Was I right?

In looking back at my predictions for 2014, I am reflecting today at how accurate I was, and what really happened.

P1: Data visualization tools did grow as a business. However, the growth this year was across different industry verticals which was fueling the demand for new tools that are more industry specific.

P2: Business model shifts involved a great deal of risk, and those shifts in 2014 included mobile payments, banking and news publications. For example, these publication shifts included less frequency in publication, different distribution models, and more sophisticated paywalls.

P3: I was wrong on this one, specifically WiFi networks. Bandwidth capacity is still a limiting factor, and who pays for the privilege is still up in the air for business models. One of the nicer hotels I stayed at recently in Berlin had a pay-only WiFi network in the hotel, no free model. Because it was paid, it functioned very well with good availability throughout the facility. You get what you pay for, it seems.

P4: Yes, the rate of data consumption is critical for reflection and analysis, but the tools are still not at the level to do this analysis with ease. Tool providers, listen up!

 My predictions for 2015?

P1:   More conversion of the CMO role to a Chief Digital Officer (CDO). Omni-channel experience marketing, combined with big data, makes for an experience effect that needs to be better controlled.

P2: Not mobile first, but desktop last. More combined interactions with multiple devices will make customer tracking solutions come of age. With opt-out privacy options, of course!

P3: Location based marketing and mobile interaction will increase. It will not be enough to personalize the experience anymore, retailers will be proactively luring you based on where you are standing.

And more to come….. !