So, what conditions led to the need for a CAO? Primarily, two:
A dedicated CAO can ensure effective ROI of data and analytics investments across different business functions, consistently measure the impact of analytics, and champion the cause for innovative analytics opportunities.
Skeptics point to the fact that creating a new C-level role may not be impactful. After all, analytics needs to be treated as central to the overall strategy, and hence should be a priority across the C-suite and not limited to one executive and team.
But in my view, whether as a C-level function or as a federated role, the importance of using analytics to drive decision making cannot be ignored. Many experts agree that the CAO’s role may eventually be folded into Strategy or Marketing. But for the foreseeable future, having a CAO to harness data and analytics capabilities is a step in the right direction.
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