CIO is a better title and focus imo
It may not be enough to manage only data. The systems that serve that data may need to be optimzed or replaced in order to improve data distribution and or work flow.
That in itself would be monetization since improvements to work flow improves productivity.
CDO is not a complete position. it has to do with more than the data, it's also about the systems and people that manage, generate or consume it. Data analized is called information. In my opinion, CIO may be a more appropriate title and focus. CDO seems like a reactionary response to address the world of bid data.
A CIO should focus on how work flow enables the highest level of productivity through implementing and tuning systems, from the collection of data to the distribution and consumption of that data.