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Wells Fargo CDO Charles Thomas Talks Data & Diplomacy
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Byurcan
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Byurcan,
User Rank: Author
7/11/2014 | 9:55:47 AM
Re: Chain of command
Yes, with the importance of data in today's business world, a chief data officer has a very busy job in his own right, and many difefrent responsibilities form the CIO.
Greg MacSweeney
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Greg MacSweeney,
User Rank: Author
7/11/2014 | 7:23:53 AM
Re: Chain of command
Yes, I have heard that too about CIOs needing to evaluate their position in a company when a CDO is brought on board. However, times have changed and the importance of data to all parts of the organization is growing. Managing data is really a full time job. More specifically, "efficiently" managing data is a full time job. If a company doesn't do a good job managing its data (making sure data is clean; avoiding duplicate & expensive data repositories), data becomes an expensive problem (instead of being a competitive advantage).
Charlie Babcock
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Charlie Babcock,
User Rank: Apprentice
7/10/2014 | 9:56:50 PM
Playing a savvty role
Thomas is playing a savvy and creative role in seeing data as a way to cement relations, help the customer and share value that hasn't been p;roffered before. To do so, he needs to understand both the data he's got and the business needs of his customers.  
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
7/10/2014 | 5:28:42 PM
Re: Diplomacy
With data typically siloed to better serve individual parts of the organization, since, as you say Greg, those parts tend to have very different needs. But USAA has show the value of breaking down those data silos in its consistently high-quality customer experience. So I think more institutions will try to follow suit. But I suspect that they will often have to take different routes to get there given that each institution has its own unique flair, so to speak, as to how the organization is siloed and how data is handled.
BethSchultz
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BethSchultz,
User Rank: Apprentice
7/10/2014 | 4:12:49 PM
Re: Chain of command
I recently had a former CIO (James Dallas of Medtronics) tell me that if a company hires a CAO (or CDO, I suppose) then the CIO should take that as a signal to start looking for another job. I don't imagine that's the case here, though --- since the CDO reports into the CIO. Interesting!
BethSchultz
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BethSchultz,
User Rank: Apprentice
7/10/2014 | 3:56:23 PM
Re: Chain of command
I know that USAA has put a lot of emphasis in making sure the business and analytics strategies mesh, too. That goes a long way in being customer-focused too, I would imagine.
Kelly22
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Kelly22,
User Rank: Author
7/10/2014 | 11:54:44 AM
Re: Chain of command
That's a smart way for USAA to structure its customer view. I feel like that would make it much easier for people who need to reach out for IT support. 
Kelly22
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Kelly22,
User Rank: Author
7/10/2014 | 11:28:17 AM
Re: Diplomacy
Good point, Greg, it does seem that both titles could work. The role of the CDO will require interaction with more business divisions as more employees require access to data and assistance with managing increasing amounts of it. 
KBurger
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KBurger,
User Rank: Author
7/10/2014 | 10:15:35 AM
Re: Chain of command
Good question, Beth. I don't know how the role is structured at USAA, either. But I do know that in terms of "customer view" USAA doesn't distinguish between whether you are an insurance customer or a banking customer -- you are a customer. That means that IT solutions are integrated across all parts of the company -- there is not IT support for banking and different IT support for insurance. That's one reason service/experience are consistently good at USAA -- they are focused on behaviors and needs, rather than products or even channels. The channel strategies relate to how their customers/members want to handle their financial services needs.
Byurcan
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Byurcan,
User Rank: Author
7/10/2014 | 9:51:41 AM
Re: Knowing Whats Right is ethics and intellectual creativity rolled into one
Thanks for sharing!
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