A job title that had no reason to exist not so long ago is becoming more common – in fact, CDO could be one of two titles: Chief Digital Officer and Chief Data Officer. Growth of the job category is gaining momentum.
The information comes from the CDO Club.
During the course of 2015, CDO Club is predicting that the number of Chief Digital Officers roaming the halls of corporate America will double to about 2,000 individuals.
The number of Chief Data Offices is expected to double as well arrive at a total of about 250.
The title is already demonstrating that it can be a career path position. In Q1 2015, three CDOs took on the CEO title and four CDOs joined boards
“Incredibly, in total, that’s already as many as all of 2014, when five CDOs became CEO and two became Board Directors/NED,” Mathison remarked.
The CDO Club offered these demographics pertaining to the position.
* The advertising sector claims the largest percentage of CDOs, with 36%, followed by media (18%), publishing (13%), nonprofit (10%), retail (7%), financial (4%), and services (4%).
* Globally, 68% of CDOs are located in North America (significantly down from 88% in 2013), followed by 23% in Europe (up from 7%); 6% in Asia; 2% in MEA; and 1% in South America.
* The number of Chief Digital Officers in the United Kingdom has also doubled, from 35 in 2013 to 70 in 2014. The CDO Club projects this number will double yet again in 2015.
* 81% of CDOs are male, 70% are Caucasian, and 98% are between 30 and 59 years old, with 54% being between 40 and 49, roughly the same as last year.
* 54% of CDOs hold a BA degree, 12% an additional MA, 26% an MBA, and 9% a PhD.
To better understand this CDO-to-CEO career path, Mathison reviewed hundreds of CDO profiles, and found that:
* 60% of CDOs in the ad sector were previously CEO, President, GM, or Managing Director.
* 30% of CDOs in the media sector were previously CEO, President, GM, or Managing Director.