How to achieve customer intelligence? The role of the CDO
Posted: Wed Jan 22, 2025 4:07 am
Efficient data management is vital, as it will be the basis of customer intelligence. To achieve this, there is a key figure: the CDO.
In the times of the experience economy , organizations must know their customers and prospects in order to adjust proposals to their tastes and needs.
To achieve this, the role of data is key, as it thus becomes a fundamental asset.
Chief Data Officers: How to Increase Business Impact?
Today, customer data and the related business areas are at the heart of the digital transformation of organizations, which must have customer intelligence that enables them not only to obtain the most complete image possible of user and consumer preferences, but also to predict their desires.
Customer intelligence enables a 360-degree view of customers so that they can reach out with the right offer at the right time. To achieve this insight, organizations need to work with and include both master data (or business-critical data) and unstructured data. This will enable them to perform complex analysis of very diverse consumers and gain the desired analytical advantage .
Today, there are AI-based customer intelligence solutions that engineer database businesses to work with their big data and deliver engaging customer experiences at scale. These augmented analytics solutions not only build a holistic picture of the customer, but provide context from raw data and isolate important content by identifying trends and preferences, thereby helping to make more informed decisions.
You may be interested in reading:
Privacy and confidentiality: challenges for CIOs and Data Governance
Chief Data Officer
However, as we have seen, it is now vital to carry out efficient data management , since it will become the raw material for analytics. And for this, there is a figure that has become an increasingly key part of organizations in recent years: the Chief Data Officer or CDO.
This role was actually first created in 2002 (at financial services company Capital One) to deal with risk management and compliance issues. Over time, the role has evolved to the point where a recent survey found that many CDOs are now also responsible for using data to drive business outcomes, and their responsibilities include governance, operations (data usability, availability, and efficiency), innovation, and analytics.
Indeed, CDOs today must execute the organization’s data-driven digital transformation strategy. Today, these leaders not only define data strategies, but can also influence business outcomes.
In the times of the experience economy , organizations must know their customers and prospects in order to adjust proposals to their tastes and needs.
To achieve this, the role of data is key, as it thus becomes a fundamental asset.
Chief Data Officers: How to Increase Business Impact?
Today, customer data and the related business areas are at the heart of the digital transformation of organizations, which must have customer intelligence that enables them not only to obtain the most complete image possible of user and consumer preferences, but also to predict their desires.
Customer intelligence enables a 360-degree view of customers so that they can reach out with the right offer at the right time. To achieve this insight, organizations need to work with and include both master data (or business-critical data) and unstructured data. This will enable them to perform complex analysis of very diverse consumers and gain the desired analytical advantage .
Today, there are AI-based customer intelligence solutions that engineer database businesses to work with their big data and deliver engaging customer experiences at scale. These augmented analytics solutions not only build a holistic picture of the customer, but provide context from raw data and isolate important content by identifying trends and preferences, thereby helping to make more informed decisions.
You may be interested in reading:
Privacy and confidentiality: challenges for CIOs and Data Governance
Chief Data Officer
However, as we have seen, it is now vital to carry out efficient data management , since it will become the raw material for analytics. And for this, there is a figure that has become an increasingly key part of organizations in recent years: the Chief Data Officer or CDO.
This role was actually first created in 2002 (at financial services company Capital One) to deal with risk management and compliance issues. Over time, the role has evolved to the point where a recent survey found that many CDOs are now also responsible for using data to drive business outcomes, and their responsibilities include governance, operations (data usability, availability, and efficiency), innovation, and analytics.
Indeed, CDOs today must execute the organization’s data-driven digital transformation strategy. Today, these leaders not only define data strategies, but can also influence business outcomes.