Reltio for Chief Data Officers (CDO)
Optimize business operations today, monetize data tomorrow
Whether you're one of the pioneering Chief Data Officers (CDO) or newly anointed at your company, there is no shortage of debate as to what your role should focus on, and how it relates to the rest of the organization.
There have been some very interesting articles and white papers on the role of the CDO:
How Reltio helps CDOs:
OPTIMIZE OperationS First
Improving the reliability and relevance of internal data to improve business operations is job #1. Your internal data is not sufficient, leveraging Data as a Service to bring in third-party data assets to enrich information for your data-driven applications allows your teams to get the most accurate and relevant insights. This is a key to optimizing the efficiency and cost of your internal operations, turning your data into a competitive, strategic differentiator.
Your end users are customers/consumers of the data, leveraging it to execute more efficiently. Just like any product they need to be able to provide feedback and rate the value and quality of the data. Even more importantly, those same users of data should be allowed to contribute back more accurate information. Data is a living organism and requires constant care and feeding. Fostering a culture where contributions are recognized and rewarded, plus the added bonus of higher quality data shared, make it a win-win for all.
Monetization is a diamond mine waiting to be discovered, and leveraged. However like diamonds, raw data needs to be unearthed, polished and brought to life in for its true beauty and value to shine through. Raw data must be, among other things:
- Secure and anonymized if necessary
GOVERNANCE & COMPLIANCE BUILT-IN
In order to turn your own data into an asset and even begin profiting from it. Your company needs to transform into the very same Data as a Service third party provider that supplies data to support your internal operations. The caveat of course that any technology you use, must provide full audit and lineage as to where the data originated from so that licensing rights are clear. Even more critical is the ability to mask and obfuscate private and personal details of individuals and organizations, that cannot be shared under any circumstances. Governance and compliance of the data is a critical factor to legal and viable monetization.
LET US PARTNER WITH YOU IN YOUR JOURNEY
As a chief data officer (CDO) just putting the process and technology in place to use data to improve operational efficiency within your enterprise is a daunting goal in itself. Data monetization as a significant revenue stream may be the last of your priorities. The good news is that you can do both at the same time, and Reltio can help you evolve organically. CDOs today are using Reltio Cloud a modern data management platform that includes Data as a Service and data-driven applications as their strategic technology foundation to achieve their goals.