In today’s fast-paced and extremely competitive landscape, standing out requires more than just surface-level strategies. To thrive, an organization must excel in three critical areas: uniqueness, price competitiveness, and operational efficiency. The challenge lies in mastering all three simultaneously.

While the sales team can craft compelling narratives that differentiate our offerings and the finance team can analyze the profitability of strategic pricing decisions, the real game-changer lies in data. A well-orchestrated data team doesn’t just support efficiency—it supercharges it, transforming processes, decisions, and outcomes across the organization.

While having a good data team can make the company better than it is without it, transformative and lasting change happens when the entire organization aligns and follows the rhythm of a unified, data-driven strategy. To evolve into a truly data-centric organization, a Chief Data Officer is essential to lead this transformation. This role is not merely about managing data but about harnessing its power to drive innovation, unlock opportunities, and propel us to the forefront of our industry. By leveraging data to optimize operations, uncover actionable insights from the vast amount of data the company generates, enhance customer experiences, and ensure robust legal and compliance coverage, the CDO becomes instrumental in driving competitiveness across all areas of the business.

Some companies manage without a dedicated data strategy leader, but many face a pivotal moment when:

• The industry becomes increasingly competitive, requiring data to innovate or differentiate.
• A digital transformation is necessary as technology becomes a critical strategic advantage.
• Regulatory demands intensify, making compliance more challenging.
• Customers expect more personalized experiences that the organization lacks the capacity to deliver.

When one or a combination of these challenges arises, the company is compelled to embrace a data-centric approach to remain competitive and sustainable.

Through this visionary leadership, we aim to create a culture where data-driven insights empower every decision and every team, from sales to finance to operations. This is how we will not only keep pace but set the standard in an industry where success demands excellence in every dimension.

Addressing Challenges: Change Management

Addressing these challenges requires adherence to proven change management principles. The consulting industry, particularly firms like McKinsey & Company, has built an entire practice around helping organizations navigate such transformations. McKinsey’s approach to decision-making and strategy execution is a benchmark for tackling complex organizational changes. I’ve touched on many of the strategies that McKinsey consultants use here. 

Change management involves preparing, supporting, and enabling individuals, teams, and organizations to transition effectively. It encompasses methods that redefine the use of resources, business processes, and budget allocations to achieve significant and lasting change. Key frameworks in change management include:

Kotter’s 8-Step Change Model

1. Create a Sense of Urgency: Highlight the importance of acting immediately.
2. Build a Guiding Coalition: Assemble a group with enough power to lead the change.
3. Form a Strategic Vision and Initiatives: Clarify how the future will be different.
4. Enlist a Volunteer Army: Engage people willing to drive change.
5. Enable Action by Removing Barriers: Identify and eliminate obstacles.
6. Generate Short-Term Wins: Achieve visible, meaningful successes quickly.
7. Sustain Acceleration: Keep pushing after initial successes.
8. Institute Change: Anchor new approaches in the organization’s culture.

ADKAR Model Created by Prosci, the ADKAR model focuses on individual change:

1. Awareness: Understand the need for change.
2. Desire: Support and participate in the change.
3. Knowledge: Learn how to change.
4. Ability: Implement new skills and behaviors.
5. Reinforcement: Sustain the change.

Lewin’s Change Management Model Developed by Kurt Lewin, this model simplifies change into three stages:

1. Unfreeze: Prepare the organization to accept that change is necessary.
2. Change: Execute the intended change.
3. Refreeze: Ensure that the change is adopted permanently.

When the vision is clear the strategy is easy. 

Having a vision is paramount in creating transformational change. A clear vision of what the data landscape should look like, how it aligns with business objectives, and the conviction to communicate this vision is the first step. The task of ensuring the company thrives for the next year, five years, and beyond requires everyone in the organization to understand and share this vision if they care about the company’s success.

The next step is finding advocates who can help carry the vision forward. Securing buy-in from the commander is crucial, but enlisting the generals and lieutenants are equally important. These advocates act as champions of change, ensuring that data silos are integrated to power the organization’s overall strategy. For example, data from finance, portfolio management, product management, compliance, and legal must be prepared to enable marketing to better support sales. In an organization where this is seamless, the marketing and sales teams are equipped with more at-bats. This cross-functional collaboration needs clarity and leadership to succeed.

There is a sense of urgency to implement these changes. The industry is contracting, and the risk of losing assets and customers to more data-centric competitors is significant. As Napoleon famously said, “A soldier will fight long and hard for a bit of colored ribbon.” Similarly, quick wins and visible successes—like dashboards and metrics—can motivate teams and provide tangible proof of progress. Clear goals and key performance indicators (KPIs) are vital for tracking these achievements.

Once key players are aligned with the strategy, it’s essential to equip the rank and file with the tools, training, and support needed to adopt a data-centric mindset. This step requires understanding the baseline knowledge of your team and addressing the challenges of upskilling. Resistance to change is expected and welcome and should be addressed proactively by framing it as an opportunity for career growth and company-wide success. Employees must see how these changes will ultimately make their jobs more efficient and allow them to focus on tasks they enjoy.

Finally, embedding data into the organizational culture requires consistent monitoring and adaptation. Progress should be tracked using KPIs, and strategies should be adjusted based on feedback and shifting landscapes. Keeping stakeholders informed and engaged throughout the process ensures sustained momentum and long-term success.

Success as CDO

The primary goal of a Chief Data Officer is to ensure the success of the company’s data strategy. Success is achieved when data is readily available, accessible, and effectively utilized by those who need it. A CDO should feel successful when data is well-organized, and every relevant team member knows where to find it and how to use it to make informed decisions.

In my current role, I take pride in identifying the best ways for the business to leverage data to its advantage. However, one of the most frustrating challenges is dealing with inefficiencies—such as siloed data that could be instrumental in driving better insights. For instance, ranking salespeople based on available sales data is helpful, but understanding profitability would require access to data from other silos, such as revenue from wholesalers and associated costs. Having a complete, integrated view of the data allows for more comprehensive analysis and better decision-making.

Businessman and the Fisherman

For some reason this situation reminds me of the story about a businessman on vacation in a beautiful resort town. One day, he noticed a fisherman returning home with a few large, fresh fish. Impressed, the businessman asked, “How long did it take you to catch these fish?”

The fisherman replied, “Not long. I spend the rest of my day sleeping late, fishing a little, playing with my children, taking a nap with my wife, and strolling into the village in the evenings to sip wine and play guitar with my friends.”

The businessman frowned and said, “You’re missing an opportunity! If you spent more time fishing, you could catch more fish. With the extra profits, you could buy more boats, hire workers, and after a few years build a whole fleet. Imagine how much money you could make!”

“And then what?” the fisherman asked.

The businessman beamed. “That’s the best part! Once your business grows, you could sell it, retire, and move to a small coastal village. There, you could sleep late, fish a little, play with your grandchildren, take naps with your wife, and sip wine while playing guitar with your friends.”

I first heard this story in high school after a long week of studying, and it really stuck with me. In this scenario, I think the businessman represents someone who strives to make everything perfect, ensuring the data is easy and accessible for everyone in the company. However, he might be better off focusing on the data in front of him and making the most of it. On the other hand, the fisherman isn’t fully maximizing the potential opportunities of his village. Somewhere within this story lies an important lesson that I’ll need to reflect on further.