A recent Experian study on data insights found that 83% of chief information officers see data as a valuable asset that is not being fully exploited within their organization, resulting in the need for more organizations to appoint a dedicated chief data officer (CDO). In addition to leveraging data better, appointing a CDO allows companies to:
- Develop a consistent approach to mitigate risk in data-driven projects
- Reduce increasing costs resulting from poor data quality
- Address increasing regulatory compliance requirements
Creating a culture centered around data ensures higher data quality, allows companies to glean business insights faster and provides a more holistic view of customers. By viewing data as a competitive advantage rather than a risk, companies can increase ROI and drive their business forward.
