Data Director Profile Continues to Gain Importance in Companies
The el Economista article, “Data Director Profile Continues to Gain Importance in Companies," quoted Russell Reynolds Associates Consultant Jesús Arévalo on the growing impact that data analysis is having and will have on Spanish companies. A translated excerpt of the article is below.
Spanish companies increasingly understand more the value of using data to make decisions. This implies a competitive advantage for organizations and is a key factor in transformation. Russell Reynolds Associates analyzed the role of Chief Data Officer (CDO), the leader who creates value from data.
"This development is the result of the complexity, risk, and opportunity represented by data for most organizations, which requires changes that are not always simple but have been allowed to gain velocity, agility, precision, and innovation," says Jesús Arévalo, a member of Russell Reynolds’ Technology Practice.
However, he believes that despite progress, data potential and analysis have still not been fully integrated into the culture and leadership of most organizations. And according to figures taken from a survey conducted by the firm on leading data and analytics companies, only 19% have acknowledged having it completely integrated in its company and culture; 50% have included it partially and 20% have begun to recently invest in this area.
So, the firm has stated that "data is changing business models and will be the greatest influence on future talent needs in the next few years."
Characteristics of a CDO
The average age of those surveyed is 47 and has average seniority of 3 years in the position. Furthermore, only 14% of leaders in the area of data and its analysis are women. 69% has experience in data and research, 69% in analytics, 45% have experience in consulting, and 30% have had IT roles.
Despite the fact that this tendency has traveled to Europe more slowly, today it involves an issue of importance in Boards of Directors in Spanish companies. Therefore, Arévalo points out that executing a global data and analysis strategy requires a specific talent and being agents of change takes precedence over any sophisticated technical abilities.
The entire article in its original Spanish can be found here.