The Rise of the Chief Data Officer (CDO)
Data has taken on a central role in our daily lives, permeating nearly every activity in the business and public sectors. It’s now considered an essential piece of the puzzle for any serious organization, enabling everything from game-changing insights to the birth of entire new technologies or business models.
In fact, data is so important nowadays that some experts are saying that it’s the most valuable resource in the modern economy, even going as far as describing data as the “new oil”. While not everyone agrees with this kind of hyperbole, it’s fair to say that how organizations approach data will be a major determining factor for future growth and success – and thus, having someone to make the most of data is crucial.
To guide these kinds of decisions, many organizations are making a structural change to their C-suite: the addition of a Chief Data Officer (CDO).
The Changing C-Suite
The set of executives that reports to the modern CEO is constantly evolving, and over the last couple of decades we’ve seen the implementation of other tech-focused positions such as the Chief Information Officer (CIO) and the Chief Technology Officer (CTO).
The CDO is the newest addition to the mix, and it’s a job that’s responsible for enterprise wide governance and utilization of information as an asset. This includes oversight over data processing, analysis, data mining, information trading, and other means.
Today’s infographic comes from Raconteur, and it breaks down organizational perspectives on the role of the CDO, along with how execs in this fast-evolving position are allocating their time to achieve their mandates.
The CDO Mandate
Approximately 90% of large global organizations will have a CDO by 2019, and the general mandate for most CDOs will be as follows:
Raw internal data exploration, diagnostic analytics, and value-added data quality and integration
External context and benchmarking, cost-reduction analysis, and business-driven growth opportunities
Data monetization, cognitive trend analysis, and innovative business models
Meanwhile, Gartner breaks it down in a similar way, suggesting that CDOs spend 45% of their time focused on value creation or revenue generation, 27% on risk mitigation, and 28% on cost savings and efficiency.
Who Makes a Good CDO?
As with any new type of role, there are always questions about how to get someone that is the right fit.
Here is the background of successful CDOs thus far, according to NewVantage Partners:
|Background||Percentage of Successful CDOs|
|External change agent||34%|
|Results-driving line executive||13%|
Like the constantly evolving landscape of data itself, the role of CDO will keep changing in the future as more organizations search for new ways to make the most of this precious resource.
Animation: The Biggest Tech Companies by Market Cap Over 23 Years
In business, the only constant is change – and for tech companies, this is even more true. Here are the biggest tech companies over 23 years.
The business world is certainly not a static one.
In the past, we’ve shown that the market leaders in the most stable industries are unlikely to keep their leadership positions over long periods of time.
But limit your window to just the dynamic world of tech and you’ll see an even more extreme example of this inherent volatility. Sometimes companies are able to separate from the rest of the pack for days or months, but it’s never an advantage that lasts for long.
Biggest Tech Companies by Market Cap
Today’s animation was originally posted to Reddit by /r/TheNerdistRedditor and captures the crazy world of tech valuations for public companies.
Watch the intense 1 minute animation below:
Note: the data here only lists companies traded on U.S. exchanges, and does not show every single valuation point.
Over just 23 years, the company topping the list flips eight separate times – and if you were to get more granular with the numbers (looking at daily valuations, for example), you’d see it happen far more often.
Today’s Market Cap Leaders
As we noted above, company valuations are constantly changing – and back in early September 2018, both Apple and Amazon even topped the $1 trillion milestone for a short period of time.
Using the same criteria as the above animation, which is based on U.S. listed companies, here are the top 10 tech companies based on data at time of publication:
|Rank||Company||Ticker(s)||Market Cap (March 18, 2019)|
|#4||Alphabet||GOOG, GOOGL||$824 billion|
Based on March 18, 2019 data
This is not a comprehensive list globally, as it misses companies like Tencent which are listed on other exchanges such as the Hong Kong Stock Exchange. Based on recent HKD/USD conversion rates, it’s estimated that Tencent would be roughly worth $450 billion today – good enough for 7th on the list.
Regardless, since change is the only constant in the tech world, it’s fair to say that the above list of the biggest tech companies will likely be much different in just a few months time.
Which Countries Are Set to Attract the Highest Skilled Workers from Abroad?
The world’s most innovative companies want to get the best talent at any cost. See whether their home countries are helping or hurting their odds.
For the world’s most innovative companies, the stated goal of attracting top talent is not simply an HR mantra – it’s a matter of survival.
Whether we’re talking about a giant like Google that is constantly searching to add world-class engineers or we’re talking about a startup that needs a visionary to shape products of the future, innovative companies require access to high-skilled workers to stay ahead of their competition.
The Global Search for Talent
There’s no doubt that top companies will go out of their way to bring in highly-skilled workers, even if they must look internationally to find the best of the best.
However, part of this recruitment process is not necessarily under their control. The reality is that countries themselves have different policies that affect how easy it is to attract people, educate and develop them, and retain the best workers – and these factors can either empower or undermine talent recruitment efforts.
Today’s infographic comes from KDM Engineering, and it breaks down the top 25 countries in attracting high-skilled workers.
If attracting the best people isn’t hard enough, there is another factor that can complicate things: the best people are sometimes not found locally or even nationally.
For top companies, recruitment is a global game – and it’s partially driven by the policies of governments as well as the quality of life within their countries’ borders.
Top Countries for Attracting High-Skilled Workers
Using data from the United Nations and the Global Talent Competitive Index, here are the top 10 countries that are the best at attracting and retaining highly-skilled workers.
They are ordered by overall rank, but their sub-category ranks are also displayed:
|#3||🇬🇧 United Kingdom||#8||#11||#7||#5||8,543,120|
|#4||🇺🇸 United States||#11||#16||#2||#8||46,627,102|
The subcategory ranks are defined as follows:
- Enable: Status of regulatory and market landscapes in country
- Attract: Ability to attract companies and people with needed competencies
- Grow: Ability to offer high-quality education, apprenticeships, and training
- Retain: Indicates quality of life in country
According to the data, Switzerland (#1) and Singapore (#2) are the two best countries for attaining and keeping high-skilled workers.
While the regulatory environments in both of these countries are well-known by reputation, perhaps what’s more surprising is that Singapore scores the #1 rank in the “Attract” subcategory, while Switzerland is the #1 country for retaining talent based on quality of life.
Another data point that stands out?
The United States has a higher total migrant population (46.6 million) than all of the countries on the top 10 list combined. Not surprisingly, the massive U.S. economy also has a high ranking in the “Grow” category, which represents available opportunities to bring high-skilled workers to the next level through education and training.
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