The need of the hour demands to know if the Chief Analytics Officer is the next ultimate big data job. The answer lies within as someone needs to be accountable for strategic decisions around data. Senior directors believe that the pioneers see the power in data and the power in harnessing that data for competitive advantage.
The core intention is to use these analytics to drive revenue. Many organizations are investing in big data projects to justify the creation of a CAO role. IDC predicts that the market for this technology and services will grow at a 27% clip annually through 2017.
CAOs must have the ability to act as a conduit to bridge the gap between the technology teams and the business teams. Their roles comprise of improving operations and identifying future growth opportunities. Recent study shows that 69% of companies said customer experience was vital for their growth strategies while 12% believe that they take full advantage of analytics to extract customer insights and deliver better service. Read More>>