VIDEO | Vanguard CDAO: CDOs Should be Able to Build Relationships With the Business

(US and Canada) Vanguard Group CDAO and Principal Ryan Swann speaks with David Mariani, AtScale CTO and Founder, in a video interview about quantifying investments, building relationships, and communicating effectively for better outcomes.

Swann says his team works with the finance office to model value return on investment. The investments in data analytics are tested based on a control group and a group leveraging the capability to determine effectiveness. The ROI is tracked over two or three years to ensure it is meeting projections. He also mentions three other ways of deciding ROI: Measuring before-after effectiveness for business uses, cost avoidance or reduction, and risk reduction.

Next, Swann highlights why CDOs need to build relationships with others on the management team. He believes CDOs must be able to straddle defense and build relationships to help drive business outcomes. Swann adds that they need to build trust and collaboration in an organization to help them achieve goals.

He also emphasizes the importance of communication with stakeholders. Swann points out that data leaders need to know their audience across departments and level the conversation. With the improvement in data literacy and maturity, he adds that individuals become more versed in data and analytics, and they want to go to a deeper level.

Elaborating further, Swann notes that this can help data leaders become a part of the business strategy and participate in development. He concludes that assisting them in moving the needle on their priorities also opens doors to bringing in novel ideas.

CDO Magazine thanks Ryan Swann for contributing his thought leadership to our global community.

See more from Ryan Swann

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