Formerly NewVantage Partners, now part of Wavestone, has published the results of its 11th annual Data and Analytics Leadership Executive Survey of Fortune 1000 and industry leading Chief Data Officers (CDO), Chief Data & Analytics Officers (CDAO), and senior corporate data and business leaders. The theme of the 2023 data leadership survey is Delivering Business Value from Data and Analytics Investments.
Participants in the 2023 Data and Analytics Leadership survey comprised data executives who served in CDO, CDAO, and other executive data leadership positions at 116 Fortune 1000 companies or organizations during 2022, up 22% over last year’s survey, the highest level of participation in the survey since its inception in 2012. Of this year’s survey participants, 84.6% held the role of Chief Data Officer, Chief Data & Analytics Officer, or the most senior data leadership title within their organization, up 10% from last year and up nearly 20% over five years.
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In the Foreword to this year’s survey, Randy Bean, Innovation Fellow at Wavestone and Founder of NewVantage Partners, and Thomas H. Davenport, author of the landmark study Competing on Analytics, write “The 11th survey in this series contains much evidence of data’s rise in importance within large corporations. Some of this change has taken place amazingly rapidly. The Chief Data Officer role has quickly become much more common over time and across more industries. But these rapid changes in the importance of data stand in contrast to lack of progress—even regression in some cases—in other areas. The human side of data continues to challenge companies, and data leaders and the organizations that they serve appear reluctant to change their paradigms.”
- The CDO/CDAO role is evolving and maturing as organizations strive to deliver business value from their data investments.
- Yet a lack of clear expectations contributes to dissatisfaction and turnover in the CDO/CDAO position.
- Investments in data are growing and remain strong.
- Becoming data-driven and building a data culture remain aspirational objectives.
- Cultural factors continue to be the greatest obstacle to achieving business value.
- Companies continue to fall short in attention to data ethics.
SOURCE: PR Newswire