Data Privacy as Business Driver: CDAO Frankfurt 2018

Data Privacy as Business Driver: CDAO Frankfurt 2018

Frontline Report from the Chief Data & Analytics Officer Europe 2018 Conference, Frankfurt, Germany

Presented by Corinium Global Intelligence, and sponsored in part by Privacy Analytics, among a distinguished list of global organizations, this CDAO Conference was focused on evaluating the role of the Chief Data and Analytics Officer and the future of the role across multiple sectors.

100+ onsite attendees made up of the most senior data, analytics and insight professionals in Europe gathered in business-focused sessions, addressing the key to tying strategy and programs back to business goals.

Andrew B. Lambert, Privacy Analytics’ Vice President Sales, Marketing and Business Development & Steve Scrace, Privacy Analytics’ EMEA Privacy Specialist, share their perspectives.

What was the ‘Big Idea’ at CDAO Europe 2018?

“How are CDOs navigating the regulatory environment to get full value from data assets?” was the lead question at the invitation-only ‘power breakfast’ and round table discussion hosted by Privacy Analytics at CDAO Europe 2018.

Who was the audience?

Guests in attendance at Privacy Analytics’ event included Chief Data Officers from sectors that included life sciences, automotive, fast-moving consumer goods (FMCG) and finance.

“Contrary to what is being assumed, many Chief Data Officers – at least in the European Union – don’t have the mandate to drive innovation. Much of what they are doing right now, is focused on the back office,” observes Andrew B. Lambert, who, along with Mr. Steve Scrace, engaged the CDOs, as a graphic facilitator commemorated the session (Figure 1).

Mr. Scrace notes, “Several members of the audience expressed their concern with having to counter the argument that the expenditure that GDPR compliance entails, doesn’t necessarily translate into the ‘win-win’ they want to see.”

Mr. Lambert adds, “This suggests that while the idea of best practice in data privacy may have gained traction in the C-suite, validating the investment in data privacy, and re-aligning the organization to achieve best practice, remain as significant challenges.”

“How are CDOs navigating the regulatory environment to get full value from data assets?”

Figure 1. (Graphic representation from Privacy Analytics’ Power Breakfast at CDAO Frankfurt 2018)

What value did Privacy Analytics bring to the conference?

“There was a lot of discussion about driving innovation,” says Mr. Lambert, “organizational reputation; and the need to develop trust, both internally and externally. In the EU, the context of the discussion is framed by the effect of GDPR and the constraints it has imposed. We presented shared use cases, classic examples of GDPR impact on data sharing in different venues and across business segments.

“Most importantly, we shared what we learned about the emerging role of Chief Data Officers, from our presentation at MIT CDOIQ, “Privacy Is A Roadblock: Tear It Down!” The roadblocks may be different in the EU and the US, but the sense of urgency, and need for guidance in Data Privacy, are the same.”

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