Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Menu
Search
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home IT Management
    • IT Management

    Why the Role of Chief Data Officer Is Gaining Influence in Enterprises

    By
    Don Reisinger
    -
    December 12, 2017
    Share
    Facebook
    Twitter
    Linkedin

      PrevNext

      1Why the Role of Chief Data Officer Is Gaining Influence in Enterprises

      Why the Role of Chief Data Officer Is Gaining Influence in Enterprises

      There was a time not long ago when the position of Chief Data Officer (CDO) had little importance or influence in the C-suite. But a new study from research firm Gartner finds that CDOs are becoming increasingly important in the corporate hierarchy. And within the next five years, a significant number of enterprises will rely on CDOs to make strategic decisions that have a direct impact on the bottom line. But as CDO budgets and decision-making influence grows, the executives will have to achieve their goes within slowly evolving corporate cultures and work with CEOs that don’t always understand the value of data. Still, Gartner’s research suggests that this is a good time to be CDO. Read on to learn more:

      2CDOs Influence Is Increasing in the Corporate Hierarchy

      CDOs Influence Is Increasing in the Corporate Hierarchy

      CDOs haven’t always received the respect they deserve, but Gartner’s study suggests that’s changing. For the first time since Gartner surveyed CDOs, the researcher found that more than half of them are now reporting to top business leaders, including CEOs, board members, and COOs. By 2021, 75 percent of organizations will view CDOs as a “mission-critical function,” according to the report.

      3CDO Budgets Are Rising

      CDO Budgets Are Rising

      Given the growing importance of CDOs, budgets are also on the rise. The average CDO budget is now $8 million, a 23 percent increase compared to the $6.5 million companies were spending in 2016. Fifteen percent of respondents said they had budgets exceeding $20 million. That’s up from just 7 percent in 2016.

      4CDO Staff Is Also Increasing

      CDO Staff Is Also Increasing

      As budgets rise, the number of people reporting to CDOs is also jumping. In 2016, CDOs had an average of 38 employees working for them. In 2017, that figure jumped to 54 direct and indirect employees.

      5CDO Responsibilities Extend Beyond Data Resources

      CDO Responsibilities Extend Beyond Data Resources

      The average CDO isn’t just thinking about data. Instead, they’re tasked with analyzing analytics, ethics, and digital transformation, among other things. A surprisingly large number—36 percent— said that they are responsible for corporate profit and loss.

      6But they Mainly Focus on Data Strategy, Analytics

      But they Mainly Focus on Data Strategy, Analytics

      CDOs confirm that they focus mostly on data resources and analytics with 86 percent of CDOs reporting said that “defining data and analytics strategy for the organization” is their top responsibility, up from 64 percent in 2016.

      7They Serve as Their Company’s Digital Advisor

      They Serve as Their Company’s Digital Advisor

      More than seven in 10 CDOs report that they’re the main point person for “acting as a thought leader on emerging digital models.” CDOs also report that they’re tasked with creating the “digital business vision” for their companies.

      8CDO’s Need to Track External Technology Trends, Opportunities

      CDO's Need to Track External Technology Trends, Opportunities

      In a bid to prepare the company for growth, 60 percent of CDOs said that they’re currently “assessing” and analyzing the external environment to identify “opportunities and threats” that can be incorporated into the broader business strategy.

      9Using Data Analytics for a Competitive Edge Is a High Priority

      Using Data Analytics for a Competitive Edge Is a High Priority

      Top company executives, including CEOs, are also asking CDOs to use data and analytics to give the company a competitive edge. More than three-quarters of CDOs said that they’re currently working on new data and analytics solutions with that specific goal in mind.

      10CDOs Are a Diverse Group

      CDOs Are a Diverse Group

      The CDO position will be the most gender-diverse technology-related C-level position by 2021, according to Gartner. In 2017, 19 percent of CDOs are female, and that figure jumps to 25 percent for companies with worldwide revenue exceeding $1 billion. In contrast, just 13 percent of CIOs are female. Another telling statistic is that 29 percent of CDOs are 40 or younger.

      11CDOs Face Challenges in Many Enterprises

      CDOs Face Challenges in Many Enterprises

      Despite the growing importance of CDOs, they’re facing some roadblocks to success. The top issue they face is getting the company to adjust its culture and accept the change that CDOs can bring to bear. That was followed by generally “poor data literacy” in many enterprises and trouble communicating data-based opportunities to non-technical people.

      PrevNext

      MOST POPULAR ARTICLES

      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      Chris Preimesberger - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      Cloud

      Why Data Security Will Face Even Harsher...

      Chris Preimesberger - December 1, 2020 0
      Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
      Read more
      Cybersecurity

      How Veritas Is Shining a Light Into...

      eWEEK EDITORS - September 25, 2020 0
      Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
      Read more
      Big Data and Analytics

      How NVIDIA A100 Station Brings Data Center...

      Zeus Kerravala - November 18, 2020 0
      There’s little debate that graphics processor unit manufacturer NVIDIA is the de facto standard when it comes to providing silicon to power machine learning...
      Read more
      Apple

      Why iPhone 12 Pro Makes Sense for...

      Wayne Rash - November 26, 2020 0
      If you’ve been watching the Apple commercials for the past three weeks, you already know what the company thinks will happen if you buy...
      Read more

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×