Industry Voices — The Rise of the Chief Data Officer Marks Ongoing Evolutions in the C-Suite

FierceHealthcare

Alaap B. Shah, Member of the Firm, and Andrew Kuder, Associate, in the Health Care & Life Sciences practice, in the firm’s Washington, DC, and Newark offices, respectively, co-authored an article in FierceHealthcare, titled “Industry Voices—The Rise of the Chief Data Officer Marks Ongoing Evolutions in the C-Suite.”

Following is an excerpt:

There is a new kid on the block: the chief data officer (CDO).

It’s no surprise in our data-driven world that such a role would exist. Yet many organizations struggle with defining the role and value of the CDO. Effective implementation of a CDO may be informed by other historical evolutions in the C-suite.

Examining the rise of the chief compliance officer (CCO) in the 2000s mirrors some of the same frustrations that organizations faced when implementing the CCO role. While organizations were accustomed to having legal, HR, and internal audit departments working together to ensure compliance, suddenly CCOs stepped in to pull certain functions from those departments into the folds of the newly minted compliance department.

Corporate evolution is challenging and often uncomfortable, but the writing is on the wall. There are two types of companies: ones that are data-driven and ones that should be.  Which will you be?