December 2020

If companies limit their data and analytics experts' tasks to services for projects, they lose momentum in digital business transformation. Companies that make their strategic decisions with the support of a Chief Data Officer (CDO) place greater emphasis on the customer experience and drive revenue growth. BearingPoint's CDO Survey provides insights into the reasons for appointing CDOs, their roles and responsibilities, the structure and functioning of CDO offices, their stage of development, and their biggest challenges.

Why are companies hiring a CDO?

Most companies appoint CDOs to increase competitiveness and address challenges with data governance, while data security concerns are less important.

In the consumer and production industries, organizations appoint CDOs primarily for business factors and deriving better business insights using data and analytics. These highly competitive sectors typically have low margins, and innovation is necessary to launch new products and improve operational efficiency.

Unsurprisingly, in both the financial and public services sectors, issues with data quality, regulatory compliance, and overcoming challenges with data management and governance are the main reasons to appoint CDOs.

Would you like more information?

If you want to get more information about this insight please get in touch with our experts who would be pleased to hear from you.

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