VIDEO | Fitch CDO: Using Data as a Product Attracted Me to the Role

(US and Canada) Fitch Group CEO Paul Taylor and CDO Heidi Lanford speak with Salema Rice, Accenture Global Managing Director of Applied Intelligence and CDO Magazine Editorial Board Member, about the new CDO role, balancing the CDO’s priorities, and engaging with key stakeholders in the organization.

Lanford starts by saying that using data as a product as opposed to managing the operational data of the organization is what attracted her to the role. She says that the way Fitch uses data to make and deliver products presented a unique opportunity and that her role now is all about the monetization of the company’s data. She also mentions that Fitch wanted the data organization to stand out to help bring data monetization to the forefront and for her to have a seat at the table.

Speaking about the balance of being responsible for the data assets including quality governance, modernizing, and supporting the enhanced monetization of data, Lanford indicates that the team is working on two parallel paths:

1. Foundation building and creating a modern environment for Fitch’s data.

2. Looking at opportunities for new products.

Sharing about the role of a CEO in supporting and encouraging this, Paul says that his role is mainly to smoothen the transition. He mentions that, while there is significant investment from the group in the data area, it can be challenging to keep track in the short term. Paul emphasizes the need to share the message of why it is being done and why it is important. He adds that his job mainly is to break down barriers to success.