New Research Substantiates the View that Data Is a Business’ Most Important Asset – with Chief Data Officers Playing a Crucial Role in Future-Proofing Business Strategies
Research undertaken by YouGov on behalf of analytics database provider Exasol finds that 72% of businesses worry that their inability to generate insights through the analysis of data will have a negative impact on financial performance. This is despite a similar number (77%) of respondents stating that data is now their organization’s most valuable asset.
The article discusses the findings of a survey conducted on chief data officers (CDOs) in organizations. The survey found that the role of CDOs is expanding and becoming more strategic in nature, with a focus on creating value and driving innovation. CDOs are also facing challenges such as data quality and governance, and a lack of resources and budget. The survey also highlights the importance of collaboration between CDOs and other business functions, as well as the need for CDOs to stay up to date with technological advancements.