Why CIOs Need a Chief Data Officer
High-quality data, often overlooked within a business because it has no one to extract and define it, could be costing organizations a major revenue source.
52% of surveyed respondents have seen their responsibilities for data management increase in the last 12 months.
49% feel increased pressure to provide data to business more quickly, and 47% see a greater demand for higher quality data.
57% anticipate that within the next 12 to 18 months the volume of data managed within their organization will expand by an average of 33%.
68% admit they struggle to find stakeholders who take anything other than a siloed view of data management.
70% said they face obstacles in implementing data-driven decision-making because no one seems to “own” the process.
92% said they’ve experienced problems as a result of inaccurate data within the last 12 months.
70% view the CDO as a “trusted advisor” of data throughout the enterprise, and 86% said a CDO adds value to data management strategies.
63% of those at organizations without a CDO would like to see the role created in the future, and three out of five of these survey respondents anticipate appointing a CDO within the next two years.
41% of survey respondents at organizations without a CDO said the presence of inaccurate data in the last 12 months has made it difficult to use data to drive strategic decision-making, and 40% said it has created regulatory risks.
44% of survey respondents overall view data quality as a strategic asset for business, and 42% see the potential to monetize high-quality data in the future.