The role of a Chief Data Officer (CDO) is essential in Fortune 500 companies, where they collaborate with key stakeholders to leverage data across all business functions and customer touch points.
Mid-market companies are less likely to have a dedicated CDO, but can benefit from the expertise of a Fractional Chief Data Officer during critical periods of growth.
Data Leaders Group offers Fractional Chief Data Officers who bring experience in hundreds of scenarios working to master large disparate datasets and help past top enterprise clients maximize their competitive advantage.
The role of a Chief Data Officer (CDO) is common in Fortune 500 companies, with more than 70% of them having someone in this role.* These executives lead comprehensive efforts to harness the power of their company's data. This covers the gamut:
from 1st party customer data re: customer engagement and loyalty & LTV
to internal organizational data around employee satisfaction or compensation
to third party data re: supply chain management, retailer, channel & distributor dynamics and more.
However, Mid-market companies** may not have the resources to employ a full-time CDO. That's where a Fractional Chief Data Officer comes in, providing data-driven insights and strategies during pivotal stages of a company's growth.
What are the benefits of a Fractional Chief Data Officer?:
A Holistic and Collaborative Approach: A Fractional Chief Data Officer works closely to get strategic alignment with leadership. Then all key stakeholders within your organization are brought together by the Fractional CDO to focus on the alignment of strategy to key data assets. Their role is not limited to specific departments like marketing or IT, but spans across all facets of the business, addressing data-related challenges and opportunities.
Access to Data Superpowers: Data Leaders Group's Fractional Chief Data Officers have extensive experience helping large enterprises harness massive datasets. By applying this expertise to smaller companies, Fractional CDOs can level the playing field and provide mid-market businesses with the same data-driven advantages enjoyed by industry giants like Amazon, Starbucks, and Microsoft.
Catalyzing Breakthrough Growth: Hiring a Fractional Chief Data Officer from Data Leaders Group can be the catalyst for mid-market companies to break away from the status quo and embrace a truly data driven strategy. The ways this shows up are not just in the precision and foresight of data aligned strategies, but also in innovations that become apparent in the integration of methods, models, and approaches of what all that data empowers. Strategy aligned data assets are in service to strategic objectives: such as long-term consistent growth, customer loyalty and clear cut new markets to compete in and win.
That's why DLG believes that a Fractional Chief Data Officer might be the key to unlocking your company's true potential. DLG's fractional CDO have the kind of extensive experience and deep expertise that show up for the mid-market businesses that engage with them. This gives them the same data-driven insights and strategies that have propelled Fortune 500 companies to success. Data Leaders Group provides a Fractional Chief Data Officer who is ready to help your business navigate complex challenges, foster innovation, and ultimately achieve long-term growth. Take the first step towards clarity & strategic alignment and contact the Data Leaders Group today.
* https://www.forbes.com/sites/insights-intelai/2019/05/22/rethinking-the-role-of-chief-data-officer/ & https://hbr.org/2023/01/8-strategies-for-chief-data-officers-to-create-and-demonstrate-value
** In the United States, there are nearly 200,000 mid-market businesses, according to the National Center for the Middle Market (NCMM). These businesses, which the NCMM defines as having revenues between $10 million and $1 billion, represent one-third of the private sector GDP.