The rise of data analytics, cloud computing, mobile and social continues to transform the business landscape, giving way to a new C-level executive: the Chief Digital Officer (CDO). Charged with driving the digital strategies across a plethora of industries and organizations, the demand for chief digital officers continues to skyrocket in its medium to effectively connect with customers, and ultimately, drive revenue growth.
The Informed Consumer
Thanks to the proliferation of digital technologies, instant access to vast amounts of information is, quite literally, right at our fingertips. Leveraging our arsenal of digital resources to search, shop and share, today’s consumers are more connected and informed than ever before.
The role of technology in the customer journey signals yet another tidal wave of industry transition — one in which business operations must be seamlessly interwoven with digital strategies that enable and produce the immersive experiences that users want. With that said, it comes as no surprise that the senior digital talent pool is in hot demand as more enterprises hone CDOs to monetize their digital assets.
Bring in the Calvary
With digital quickly transforming into the fastest-growing revenue stream for many businesses, building out a supportive infrastructure has become imperative for survival in today’s competitive market. However, its ever-changing nature has also proven to be an area of contention that even the most established companies don’t quite know how to cope with.
Confronted by technically-competent competitors, organizations that move at a snail’s pace seem to underestimate the degree to which they must adapt to align with the rapid changes of a fragmented digital market. Cue the dark horse that is the CDO, galloping in to save the day by building out a foundation that evolves with the disruptive changes occurring across today’s digital market.
With technology and consumer habits changing so quickly, the CDO has emerged as the hot new commodity for tackling digital disruption, toe-to-toe. Aptly dubbed “Transformer in Chief” for their ability to manage, revise and execute organizational, strategical and technical processes on the fly, CDOs are the most nimble ally to any company as they seek news aspects of digital integration that point the finger towards business model improvements that drive revenue generation.
According to recent predictions by Gartner, the demand for chief digital officers show little signs of stopping – indicating that 90 percent of large companies will have carved out a CDO role for their organization by the end of 2019.