Need a chief data officer? Maybe you should rent instead of hire
SMBs and non-profits can still benefit from data expertise, even if they can't afford a full-time resource
Analytics firm Cynozure has launched the CDO Hub, a service aimed at small businesses that don't have the budget or resource to recruit their own chief data officer.
The service has been launched to help small businesses benefit from having on-demand data expertise at a fraction of the cost of a CDO, which can cost upwards of 110,000, the company has explained.
It pointed to its own Big Priorities for Data Strategies report that found that 67% of businesses were seeking to exploit the power of data, but were reluctant to do so due to the need to hire additional expertise.
"We're excited to provide a previously-untapped opportunity to tap into Chief Data Officer capability for organisations previously saw this level of data leadership as out of reach," Jason Foster, founder and CEO of Cynozure said.
The Chief Data Officer Hub's CDO on-demand service offers access to short-term chief data officer talent, whether they're required to work on a one-off project, finding a part-time data leader that can help shape a company's strategy before handing it over to the existing employees at an organisation.
It also offers a collaboration platform for businesses to connect with data tech thought leaders, sharing best practice and advice to businesses that may be struggling to roll out an effective data strategy.
"The CDO Hub gives them outstanding expertise, without the cost and risk associated with hiring at this level - and with a far higher degree of flexibility," Foster continued. "Our network of data leaders can advise on small one-off projects, devise full data strategies, or provide on-going data counsel at board-level."
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