More Related Content Similar to The Chief Data Officer: Bridging the gap between data and decision-making (20) More from Experian Data Quality (12) The Chief Data Officer: Bridging the gap between data and decision-making1. ©2013 Experian Information Solutions, Inc. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of
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The Chief Data Officer and
the business of data
management
Erin Haselkorn
Analyst & Public Relations Manager
David Bresnick
Director of Product Strategy
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Speakers
Erin Haselkorn
Analyst & Public Relations
Manager
David Bresnick
Director of Product Strategy
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Agenda
Chief Data Officer study
► Data usage today
► Barriers to utilizing data
► Changes around data usage and the CIO
► The rise of the CDO
The team around a CDO
Q&A
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Methodology
500 - 999
employees
24%
1,000 – 4,999
employees
31%
5,000 – 10,000
employees
30%
More than
10,000
employees
15%
Company Size
2%
3%
3%
3%
4%
6%
8%
10%
12%
12%
12%
12%
15%
Creative services
Legal services
Private healthcare / education
Transport / logistics
Utilities / energy
Pharmaceuticals
Engineering
Retail / wholesale
Financial services
Professional services (outside finance, legal)
Construction
IT / telecoms
Manufacturing
Industry
261 US CIOs within non-governmental organizations, and with responsibility for
IT decisions in their organization, took part in an interview during June 2015
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Data is an untapped resource
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An untapped resource | Data not being fully utilized
76%
have underutilized
data that costs the
business money to
store
95%
of CIOs say data
is changing their
business
4 out of 5
see data as a
valuable asset
that is not being
exploited
3 out of 5
believe their
organization is
not making
optimal use of
data
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Different attitudes towards data quality
It’s not optimal
but we can find a
work around
21%
We see it as a
strategic asset to
the business
54%
We see potential
to monetize high
quality data in the
future
25%
It’s not optimal
but we can find a
work around
6%
We see it as a
strategic asset to
the business
33%
We see potential
to monetize high
quality data in the
future
61%
Without CDOs With CDOs
44% see high-quality data as a strategic asset for
their business
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Barriers to better usage
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Barriers to better data use | Practical issues
9%
22%
31%
33%
46%
30%
38%
42%
38%
34%
46%
47%
50%
11%
20%
21%
29%
32%
33%
34%
34%
35%
36%
37%
38%
46%
Standardization and select cleansing
Inter-enterprise data sharing
International support
Single customer view
Data capture and validation
Data profiling / discovery
Monitoring and governance
Real time processing
Visualization of data quality metrics
Workflow tracking
Increasing variety of data
Increasing volume data
Data quality issue resolution
Without CDO
With CDO
Biggest challenges in managing data
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Barriers to better data use | Practical issues
8%
21%
29%
31%
34%
36%
37%
37%
None of the above
Process efficiency is hampered due to duplication of
effort and time spent sorting out data problems
Lost revenue opportunities
Distrust in decisions being made amongst employees
Potential brand / reputational damage
Customer experience / engagement is less than
optimal
Regulatory risk
Difficulty using data to drive strategic decision making
Consequences of inaccurate data in the last 12 months
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Barriers to better data use | Practical issues
4%
28%
31%
33%
33%
34%
34%
35%
37%
48%
None of the above - no barriers
Lack of understanding about how to use analytics to
improve the business
Perceived time to value of data quality tools
Lack of strategy
Lack of data analytics skills
Limited budget
Lack of understanding of the financial impact of Data
Quality issues
Variety of data
Ability to access data
Volume of data
Key barriers preventing the use of data for analytics
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Barriers to better data use | Organizational issues
68% believe it is difficult to
find stakeholders who take
anything other than a siloed
view of data management
70% believe it is difficult to
make IT decisions because
no-one in their organization
seems to own the data
68% believe it is difficult to
find stakeholders who take
anything other than a siloed
view of data management
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CIOs under increasing pressure
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CIOs under pressure | Increasing volume
With data on the increase, CIOs are becoming
increasingly overwhelmed by the volume and variety
of data within the business.
33%
Is the expected
increase in data
volume in the next
12-18 months
57%
believe the volume
of data their
organization
needs to manage
will increase in the
next 12-18 months
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CIOs under pressure | Variety of data
32%
46%
54%
54%
57%
61%
77%
30%
48%
39%
39%
38%
34%
20%
38%
7%
7%
7%
5%
5%
3%
Location data
Supplier data
Transactional data
Employee data
Financial data
Product data
Customer / third party data
Current focus Planned focus in next 12 months No current / planned focus
Areas of data focus
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CIOs under pressure | Gearing up for change
10%
14%
24%
26%
28%
28%
30%
30%
31%
31%
33%
33%
35%
36%
38%
40%
Managing new trends (e.g. Big Data, M-Commerce,…
Vendor / partner management
Integrating IT systems and operations
Making strategic decisions in 'real'-time'
Complying with data regulation
Meeting the skills shortage in data management
Engaging customers through digital channels
Improving data infrastructure
Integrating data across the organization
Improving data security / policy
Data capacity storage
Migrating data
Creating a standardized experience across all…
Analyzing social media data / interactions
Keeping pace with technology advances
Increasing customer expectation
Biggest challenges facing organizations in the next 24 months
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CIOs under pressure | Changes to the role
47%
48%
49%
49%
50%
51%
52%
52%
53%
76%
49%
50%
46%
44%
49%
43%
46%
42%
43%
24%
3%
5%
7%
2%
6%
2%
6%
4%
Pressure to provide higher quality data to the business
Contribution in helping business create new products
Pressure to provide data faster to the business
Personal stress levels at work
Overall job remit / areas of responsibility
Working hours
Salary
Responsibility for data management
Value I feel able to contribute to the business
Overall IT budgets
Increased Stayed the same Decreased
Changes for the CIO in the last 12 months
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Reason CIOs want a CDO
6%
27%
38%
40%
45%
47%
47%
48%
To consolidate data quality suppliers/investment
Create a competitive advantage through data
Lack of ownership in the organization
Capitalize on big data opportunities
Decentralized data management and reporting
Increasing regulation / governance
Increasing costs due to poor quality data
Need a consistent approach to de-risk data driven projects
86% of CIOs with a CDO in their business think the CDO role
adds value to their data management strategy
Reasons for wanting a CDO
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The dawn of the CDO
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Expected appointment of the CDO | Long term play
Within the next 6
months
8%
Within the next 12
months
8%
Within the next 18
months
27%
Within the next 2 years
18%
Longer term than this
39%
Expected appointment of the CDO role
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The rise of the CDO | A new and growing need
Reporting structure for the CDO
1%
1%
2%
2%
26%
67%
1%
1%
6%
6%
25%
62%
Other
COO
CFO
CTO
CEO
CIO
Who should CDO report to
Who does CDO report to
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The rise of the CDO | A guardian of data
25%
31%
31%
31%
36%
56%
59%
64%
70%
28%
33%
31%
26%
25%
17%
24%
14%
15%
47%
36%
38%
43%
39%
27%
17%
23%
15%
Improve the bottom line / profit through reducing cost of
compliance and improving profitability through availability of…
Set and enforce data governance policy
Improve the top line / revenue through effective governance and
use of data
Provide platforms and technologies to support analytics within the
enterprise
Measure and manage data value and risk (including cost of poor
quality data)
Influence corporate strategy, define data management strategy
and translate it into tactical implementable steps
Drive large, cross-functional data management programmes
involving multiple stakeholders
Be the guardian of data quality in the organization
Be trusted advisor on analytics / data across the enterprise
Responsibility of CDO (Chief Data Officer) Joint responsibility of CDO & CIO Responsibility of CIO
CDO vs CIO responsibility
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The team around the CDO
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The team | Building strong expertise
CDOs require a team to help them utilize data more effectively
Data owners
Data steward
Data consumer Data producer
Data custodian
Data analyst
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Chief Data Officer study
► Data is changing the way organizations do
business
► Practical and organizational barriers to
utilizing data
► CIOs are under increasing pressure
► The rise of the CDO
The typical team structure around a CDO
Summary
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Q&A