The CDS can carry a lot of task if you have enough time and dockyard to improved these ships.
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I'll show you two options, to both you will need to research cruisers lvl3, to get a good engine to this ship.
Your first option would be transform this ship in the ultimate Convoy Raid Ship. With heavy batteries lvl2, torpedos and dual-purpose secundaries, this ship can deal heavy damage to any ship protecting a convoy, especially CAs and BCs. Is worthy note that if you go ahead with this idea, you'll need 3 LCs to protect this ship, because it's counted as a Capital Ship, otherwise DDs might easily destroy it. (Don't use DDs in this option, because they are bad in deep waters and make your operational range shorter.) Another thing that is a bonus to this ship is its low fuel consumption, comparable to a BC doing the same job.
Your second option is tranform it in a multi-purpose task force to especific jobs. For example: When I'm playing with Italy, I like to have at least 2 task forces dedicated to hunt patrol ships. These TFs need to be fast, because most of the time, patrol ships are set to not engage the enemy. So, they need to catch the enemy and destroy it before it have the chance to run, and ships like this DCS are perfectly to that. It has good speed, reasonable AA to survive under contested air zones, and high damage and armor penetration. Or you can use it to as a Shore Bombardment Ship. Because it has heavy batteries, will give you the same bonuses of a BB for half of the price.
You may wonder, why have armor lvl1 to this ship? It will operate under escort of CLs, so, you don't need to be concerned about the enemy's screens, and because any cruiser, can be pierce by BBs or CAs no matter their lvl of armor. So its better to increase your speed and damage, to destroy the enemy ships and run (or just run if things go wrong) as soon as possible.