cdo - chief data officer momentum and trends
TRANSCRIPT
The Chief Data Officer2015 and BeyondOracle Chief Data Officer Advisory CouncilJeff Pollock, Vice President of Product
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DATA IS HAPPENINGWorld’s largest taxi company owns no vehicles
World’s most popular media firm creates no content
World’s most valuable retailer has no inventory
World’s largest hospitality provider owns no real estate
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50% of Banking and Insurance firms will have a Chief Data Officer by 2017
25% of all companies will have a CDO role
$13.5m annual costs to the average organization due to poor data quality
33%By 2017, a third of Fortune 100 firms
will experience an information crisis due to an inability to value, govern and trust
their corporate data
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40%Most CDO’s say that the #1 thing they worry about how to ensure adoption and executive support
35% Say that their top priority in the next 2 years is building out an efficient data management framework … while only
10% Say their focus is on monetizing customer interactions
56% Of CDO’s will invest in predictive analytics in the next 18 months
72%Data Management software is a priority for
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CONGRATULATIONS!
… you’ve got the hottest job of the 21st century!
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or…?
… are businesses already back-tracking on the CDO role
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IT DATA
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33%Chief Digital Officers
tend to be found inAdvertising 44%
Chief Data Officers come from a Business Services background – in Banking and Insurance firms
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CDO like an NBA Point
Guard?
“My job is to make sure that data is accessible and is used in the right way. We depend on this data to mitigate risks; adhere to rules and guidelines; and ultimately to help our customers succeed financially.”
- A. Charles Thomas, CDO Wells Fargo
http://www.bizjournals.com/sanantonio/blog/2015/05/wells-fargo-data-officer-distributes-information.html
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Board/CEO
CRO COO CIO BU-1 BU-2
CDO
PROCESS-ORIENTED CDOTypically in Risk, Compliance or other Business Support function
Board/CEO
CRO COO CIO BU-1 BU-2
CDO CDO
REVENUE-ORIENTED CDOAligned to Business Unit (eg; CMO), supporting revenue goals/SLAs
Board/CEO
CRO COO CIO BU-1 BU-2
CDO
ANALYTICS-ORIENTED CDOTypically leading from within IT, focus on efficient access to data
Board/CEO
CDO CRO COO CIO BU-1…
OPERATIONAL CDOOperating shared-services, with Board-level accountability
Data MonetizationGovernance Process
Decision Making
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Biggest Mistake: Don’t Try to be the Lone Ranger
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What Can Every CDO Do Right Now?
Monetize data by focusing on net-new services
Accelerate better decision making w/faster Analytics
Reduce vendor spend by encouraging Hadoop uses
Champion a Modern Data Architecture (polyglot etc)
Govern the Data Assets: Glossary, Metadata, Quality
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Data Monetization is Affecting Every Major Industry
Financial Services
RetailInsurance
Utilities, Oil & Gas
Healthcare
Telecom
Manufacturing Public Sector
• Risk & Compliance Analytics• Auditing, Deep Data Storage• Fraud Detection / Predictive• Trading Risk Insight• Deposit Spread Maximization
• Insurance Underwriting• Customer Behavior Monitoring• Next Best Product / Predictive• Loan Processing w/New Data• Litigation Propensity• Subrogation Win Rates
• Call Detail Records (CDRs)• Infrastructure Investment• Next Product to Buy (NPTB)• Real-time Bandwidth Allocation• New Product Development
• 360° View of Customer• Analyze Brand Sentiment• Localized, Personalized
Promotions• Website Optimization• Optimal Store Layout
• Monitor Recall Data• Supplier Consolidation• Supply Chain and Logistics• Assembly Line Quality• Predictive Maintenance• Crowdsource Product Quality
• Smart Meter Stream Analysis• Slow Oil Well Decline Curves• Optimize Lease Bidding• Compliance Reporting• Proactive Equipment Repair• Seismic Image Processing
• Genomic Data for Medical Trials• Monitor Patient Vitals• Reduce Re-admittance Rates• Store Medical Research Data• Recruit Cohorts for
Pharmaceutical Trials
• Analyze Public Sentiment• Protect Critical Networks• Prevent Fraud and Waste• Crowdsource Reporting for
Repairs to Infrastructure• Fulfill Open Records Requests
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Execution
Innovation
Oracle Confidential
Accelerate Analytics and Apply Open Source Tech
WarehouseData FactoryReservoir
Data Streaming
Data Platform
Discovery Lab
Analytics
APIs
Enterprise Data
Other Data Sources
Data Streams
BusinessData
Social/LogData
Model FirstAnalytics
• Reporting-oriented• Often enterprise wide
in scope, cross LoB• “you know the
questions to ask”
BI/Reports & Dashboards
Data FirstAnalytics
• Data Exploration• Highly visual and/or
interactive• “you don’t know the
questions to ask”
Data Discovery
• Telematics• Industry Services• Internet of Things• Sentiment
App/DataServices
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Champion a Modern Data Architecture
Polyglot
Fit for Purpose Data
Lambda
Speed Layer
Batch Layer
DataSources
DataServices
Kappa
DataServices
Data PipelineDataSources
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Govern Data Assets: People & Process First
Data Governance
Metadata Management
Business Glossary
Data Profiling
Data Cleansing
Data Archiving
Data Privacy
PEOPLE
PROCESS TECHNOLOGY
…people and process first, …tools and capabilities next, …and, there is no magic!
“…the overall impact of poor-quality data on the whole dataset remains the same. In addition, much of the data that organizations use in a big data context comes from outside, or is of unknown structure and origin. This means that the likelihood of data quality issues is even higher than before. So data quality is actually more important in the world of big data."
- Ted Friedman, Gartnerhttp://www.gartner.com/newsroom/id/2854917
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Execution
Innovation
Oracle Confidential
Comprehensive Oracle Tools for Data
WarehouseFactoryReservoir
Data Streaming
Data Platform
Discovery Lab
Analytics
APIs
Enterprise Data
Other Data Sources
Data Streams
BusinessData
Social/LogData
Model FirstAnalytics
• Reporting-oriented• Often enterprise wide
in scope, cross LoB• “you know the
questions to ask”
Reports & Dashboards
Data FirstAnalytics
• Data Exploration• Highly visual and/or
interactive• “you don’t know the
questions to ask”
Discovery
• Telematics• Industry Services• Internet of Things• Sentiment
DataServices
ApacheOracle
NoSQL & SE
OracleWLS &
Coherence
Oracle Data Integration & Governance
Oracle Database& Big Data SQL
OracleR
OracleBig Data
Discovery
OracleBusiness
Intelligence
OracleBig Data
Discovery
Apache
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Oracle is the Only Vendor with a Complete Data Solution
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Modern Open Source-based Data Architecture
Enterprise Integrated & Proven with Existing Technology
Open and Heterogeneous with Many Hadoop Distributions
Governed with Glossary, Metadata, and Data Quality
Engineered Systems Optimized and Simple to Deploy
Available by Subscription on the Public Cloud
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EnterpriseProductivity
DisruptiveTechnology
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CDO’s ARE HAPPENING
Oracle can help