VIDEO | CDO Today CEO: CDOs Need to Help Their Company Save Money or Grow

(US and Canada) Salema Rice, CEO of CDO Today, speaks with Eleanor Treharne Jones, CEO of Kensu, in a video interview, about the role of the Chief Data Officer, her journey as a CDO, how people can choose a data career, and the evolution of the CDO role.

At the onset, Rice describes herself as a fifth-generation Chief Data and Analytics Officer. She explains how this role has changed from being seen as more of a bailiff to the role of strategic advisor. Additionally, she acknowledges that this position encompasses all aspects of data and analytics, from ingestion and mastering data to building models, business intelligence, and other analytics. It also includes data management, data governance, and data quality which require technical and business skills.

Further, Rice foresees the emergence of a new type of Data Officer, the Data Product Officer. She states that they must possess a comprehensive understanding of data, technically and in terms of its business applications. The knowledge will enable them to use data products to drive organizational value and solve problems quickly.

Moving forward, Rice recalls her initial responsibility of connecting different parts of the organization to maximize data utilization. Then, she worked on bringing together sales, finances, and risk data to explain how separate parts of the organization affect one another.

Back then, she became a problem solver and storyteller while fostering trust within the company and creating a single version of the truth. By bringing organizational data together and emphasizing data management, data quality, reference data, metadata, and master data, Rice enabled the business to own the data rather than just the technical processes.

Additionally, her relationships with the CEO, CSO, and CIO have been instrumental in developing this data-driven culture. Rice feels fortunate to have started when data was not held in high esteem, as it taught her a great deal and enabled her to mentor current and future Chief Data Officers.

Rice emphasizes that many industries began to build great AI models without considering how much they can trust them. She reckons that there is no responsible AI without responsible data. To help achieve success, she suggests that companies take a dual velocity approach and focus on solving one problem at a time, using only the most critical data components. It is critical to have a solid metadata layer, a data catalog, and high-quality data to maintain customer trust.

Next, Rice points out that culture is the major challenge for Chief Data Officers, and they must start building a positive culture in their organization. She suggests creating an environment where employees can learn and develop skills, leading to talent retention. Additionally, leading the organization by showing how data drives digital transformation allows people to evolve within the organization.

In conclusion, Rice adds that the two main objectives of a Chief Data Officer are to determine a way to help the company save money or grow. It is through this role that data and analytics can support the organizational strategy.

CDO Magazine appreciates Salema Rice for sharing her insights with our global community.