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I believe you have answered the question in your first statement. If accounting only came along in the last 10 years, would it not still be important enough to have it's own department?
The idea of a Chief Data Officer with the role of managing data governance only, does not go far enough. The solution is a new department – call it decision support, decision management or just plain old analytics. The Chief Analytics Officer would be responsible for making sure that the company gets best value from its information assets.
The problem with it being in the CFO space is that they are accountants – no offence but the broader information assets available require a broader skill set. They tend to employ accountants and not analysts, and financial planning and analysis departments generally suffer as a consequence.

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