With the push to transform digitally, organizations are turning to the Chief Digital Officer (CDO) to help create business value through digital technologies. CDOs employ strategic leadership to manage the key shifts companies need to make as they adopt mobile, social media, and cloud platforms.
This new face in the executive C-Suite emphasizes an organization’s need for digital strategies to better reach tech-savvy customers and equip employees with the digital tools to meet goals.
Which companies need a CDO?
MIT Sloan researchers ask companies a series of questions to help evaluate if a CDO is required for their organization to build a digital business model. Companies considering a CDO should ask themselves these questions:
- What is the level of threat facing your organization?
- If your current business model is facing a significant threat, what is the right digital business model for your company?
- What is your competitive advantage in the digital era?
- How can the digital era help your company?
- What “muscles” do you have to develop in order to really deliver?
- Do you have the leadership to pull this off?
These focused questions can help delineate the roles and responsibilities for a CDO vs. a CIO and CISO when identifying the technology and processes needed to create a digital advantage. This will become increasingly more important as technologies such as AI and machine learning are adopted.
To read more about the role of Chief Digital Officer, check out this article by SearchCIO.