Elevating Data as a Strategic Asset: A Playbook for CIOs and CDOs

Data is rapidly becoming every company’s most valuable asset. Yet many executive teams still view data primarily through an IT lens - as a utility for operations, not a strategic driver of competitive advantage.

Forward-thinking CIOs and CDOs have an opportunity to elevate data’s role as a business priority. By positioning data as a revenue driver, decision-making aid, and innovation catalyst, technology leaders can unlock data’s full potential.

This article explores proven techniques to demonstrate data’s strategic value, based on the excellent book “Data Is Everybody’s Business” by Barb Wixom , Cynthia Beath and Leslie Owens . Let’s dive in.

Making the Case for Data with the C-Suite

Here are strategies to showcase data as a competitive differentiator with your CEO and executive peers:

Paint a Vision with Data Opportunities

Illustrate how data can create value in key business activities like strategic planning, product development, marketing, sales, and operations. Provide real-world examples of data-driven insights that led to increased revenue, reduced costs, or improved efficiency.

Connect data to the CEO’s top priorities to make it relevant. Quantify the potential financial upside through data monetization, optimization, and personalized offerings.

Build a Coalition of Data Advocates

Identify executives already sold on data’s benefits. Have them share success stories to influence skeptics. Create a data advisory council or working group of business leaders to build momentum.

Start with High-Impact Pilot Projects

Rather than a broad data strategy, demonstrate value through targeted use cases. Prioritize initiatives with clear ROI that address the pain points of influential executives. Quick wins build credibility for larger efforts.

Put Data in Business Terms

Avoid tech jargon when presenting data insights. Translate analytics into business benefits using financial metrics, customer impact, and industry competitive advantage. This connects data to what executives care about most.

Make Data Tangible and Accessible

Create interactive data visualizations, dashboards, and self-service analytics. Make data insights easy to explore on-demand without specialized skills. Democratizing data builds intuition and adoption.

Enlist Your CEO as Data Champion

Once convinced, have your CEO actively promote data’s strategic importance. This top-down endorsement gives you a license to execute an enterprise data strategy and change the narrative.

With these techniques, technology leaders can propel data from a back-office function to a front-and-center business priority and market differentiator. Will you lead the data-driven revolution? Our companies’ competitive futures depend on it.