Experian published the findings of its “Dawn of the Chief Data Officer (CDO)” survey, confirming that an increasing number of organisations are waking up to the strategic value of data. The study, which interviewed over 250 Chief Information Officers (CIOs) from large organisations, found that 90% of respondents feel that data is transforming the way they do business, with some 92% suggesting that a Chief Data Officer (CDO) is best placed to define data strategy and be the guardian of data quality within an organisation.
“Dawn of the CDO study”: Key findings
- 90% of respondents say that data is changing the way they do business
- 92% think that a Chief Data Officer (CDO) is best placed to define data strategy and be the guardian of data quality within an organisation
- 61% wanted to see a CDO hired within the next 12 months
- 47% cited the volume of data as a key barrier, preventing them from exploiting data assets
- Such is the demand that CIOs believe the CDO will become an established board level role by 2020
- The key reasons for wanting a CDO are;
- to capitalise on big data opportunities (44%),
- to provide a consistent approach to de-risk data driven projects (41%)and
- to cope with increasing regulation (38%).
- On average, CIOs cite savings from investing in data quality tools to be less than£1million. However, comparatively, CDOs stated this to be in excess of £5million.
Research Methodology: 254 private sector CIOs in organisations with over 500 employees completed an online survey during August 2014. Research was conducted by Loudhouse, an independent research agency based in London. In addition, Experian Data Quality conducted 17 in- depth qualitative interviews with CDOs and senior data officers within enterprises.