Increasing demand for corporate digital strategies
Many companies are undergoing a digital disruption of their business models, as firms try and break down the barriers that exist within their organisations that prevent strategy from being executed effectively.
There are also many different techniques that companies can use to improve their operations. As well as pursuing strategies like integrated business management software, businesses are also turning to personnel who can assist with the implementation of organisation-wide digital strategies.
In fact, the demand for Chief Digital Officers (CDO) who can fill this position has grown dramatically in recent years. By the end of this year, the number of global CDOs is expected to have doubled the number in 2013, according to research from the CDO Club.
Leading the industries that have adopted a CDO position were firms in the advertising industry, as well as the media and publishing sector more generally. Other sectors like financial services have also begun to adopt these techniques, while government organisations are also beginning to pursue these avenues.
Retail, cosmetics and the food and beverage industries are all also beginning to hire executives who can handle this data. This suggests that there is a considerable range of organisations that are now pursuing new opportunities in their organisational management.
While this year-on-year growth is impressive in itself, it is also worth noting the dramatic increase in C-suite positions dedicated to handling company information. In 2005, there was only one CDO in the world, whereas now there are over 1,000 globally.
Creating new positions isn’t the only way that firms are looking to handle emerging challenges in the marketplace, with many executives looking to pursue disruptive internal practices within their businesses as well.
As new positions are created and business strategy software is implemented, digitally savvy companies are likely to see increasing benefits from their trail-blazing position.