Cloud Convergence : Data & Value

Chief Data Officer(CDO) and CFO emerge as the ideal team to transform the organization, accelerate growth and attain long-term financial stability, provided the Data becomes the center of Value Creation!

Data has emerged as the core resource of enterprise strategy and decision-making to create products, services, long-term value, and customer experience. The historical data is mostly retained, adding to the cost, for the regulatory compliance or because no one really wanted to take a call on it. The emergence of cloud, bigdata, AI, and other applications have changed our approach to data, compelling organizations to frame policies & practices and build long-term strategies around Data.

The Chief Data Officer(CDO) has become a part of the core leadership team driving the organizational transformation, strategy, growth, and competitive edge. The rare skillsets of a CDO function backed by the right data infrastructure and tools are transforming the older organizations into objective-driven entities, while the younger companies are able to disrupt the market places in shorter times. For the first time, an IT-related function is able to bring synergy and alignment within the organization, based on insights, numbers, and tangible value; the right tune for the entire leadership team, including the CFO who is bestowed with the task of protecting the financial health of an organization.

The value of Data can only be realized with the right infrastructure, analytical applications, and tools, that can scale on-demand, perform in real-time and provide meaningful outcomes. Numerous organizations are constrained in their 'data-driven approach' due to legacy infrastructure, competent manpower, or adaption of Data Analytics, AI etc. Enterprises ignoring the value of historical data and a shortsighted approach to data management results in lower RoI and poor financial performance.

Data residing in warehouses adding no value is a cost-center and this scenario can quickly be changed by a CDO by bringing value through the right migration, cloud adaption, and data analytics strategy. In cooperation with CFO, the CDO can build business models and policies that are objective-driven, backed by historical data, and can predict tangible models for the future.

An organization that leverages Data can transform every line of business, product, service, processes & systems, customer engagement, and employee performance being objective-driven to create Value.