The chief data officer (CDO) is a crucial role for organizations looking to embrace digital transformation. While the role is relatively new to many organizations, the value a CDO adds is widely acknowledged by other C-level executives. In fact, 82% of CIOs believe there is a compelling case to hire a CDO in most organizations today.
Disparities between organizations, however, mean that not all CDOs are set up for success. Less than half of CDOs are given a clear remit or objective when they join an organization. In order for businesses to become data-driven, they need to empower their CDO to ensure quality information that can be used in a meaningful way throughout the organization.
Empowering Chief Data Officers, ultimately leads to a successful business. Why? Data comes in high volume and variety. By giving the reins of safeguarding data, data management and innovation to CDOs, they can provide strategic plans on how to proceed with decision making processes. 96% of CDOs agree that business stakeholders are demanding more access to data than ever before. CDOs and stakeholders know data leads to decisions that succeed challenges that arise in today’s age. Please see the figure below to find the top 3 key business challenges over the next 24 months:
If organizations want to overcome new age challenges, capitalize big data opportunities, create a competitive advantage through data, or de-risk data driven projects, Chief Data Officers are crucial to the workplace. Organizations with CDOs will thrive in industries, as well as facilitate the digital transformation.
In this report, we discuss our findings from this unique study, including:
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