Mapping your CDO Transformation: Business vs. IT Functions
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Gartner predicts that 50% of all companies in regulated industries will have a CDO by 2017. According to Debra Logan, Vice President and Gartner Fellow, who conducted the research behind the prediction: "There is no coherent."
The explosion of data over the last few decades has seen evolution in digital tracking and storage, and driven an expansion of business strategies to capitalise on the extent of information available. In such a climate, harnessing and improving efficiencies within the analysis of this data can define a firm’s position against industry competitors.
This draws a necessary correlation between understanding the potential to exploit big data, and developing the most efficient strategies to do so. While corporations previously relied on IT managers to organise operations and assist with data strategies, attaining buy-in not just at senior management level but enterprise-wide was apparent.
Organizations are building their businesses on data, but they don’t necessarily manage it well. Queue the importance and role the Chief Data Officers (CDOs) have to play. CDOs ensure that the business is collecting the most appropriate data to serve its needs and expansion, analyses data collected and uses the results to inform business decisions.
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