Thirty years ago, a widely repeated joke was that CIO — the abbreviation for Chief Information Officer — really meant “career is over.” But as job tenures lengthened and the role became more institutionalized, the joke lost its relevance. Now, however, the most unstable C-suite job may be the Chief Data Officer, or CDO. Tenures are short, turnover is high, and as in the early days of the CIO role, many companies don’t seem to know exactly what they want from its incumbents.
Why Do Chief Data Officers Have Such Short Tenures?
The Chief Data Officer is arguably one of the most important roles at a company. It’s also a position that has become notoriously hard to stay in. The average tenure of CDOs is just two to two-and-a-half years. There are a few reasons for this. The role is relatively new, so companies are still trying to decide what they want from the person in this position. Many companies expect the impossible from their CDO. Finally, CDOs often have trouble selling their actual accomplishments to a business audience — they just don’t speak the language. But, it doesn’t have to be this way. One successful CDO imparted two pieces of advice: 1) Start with a clear connection to business strategy with tangible examples of how data analytics can drive business outcomes (topline, bottom line, cash, stewardship), and 2) lead with 1-2 forward thinking business partners to demonstrate what is possible. Those partners become the change agents across the organization.