BOSTON, Aug. 4, 2015 /PRNewswire/ -- Experian Data Quality, a leading provider of data quality software and services, today announced the release of a new research study, The Chief Data Officer: Bridging the gap between data and decision-making. The study finds the value of data has increased dramatically amongst the business community, bringing about the rise of a new title: the chief data officer (CDO).
The study, which interviewed more than 250 chief information officers (CIOs) and CDOs from large organizations, found that data is a critical asset that has been largely untapped up until this point. Ninety-five percent of CIOs believe data is changing the way their organization does business. In addition, four out of five see data as a valuable asset that is not being fully exploited within their organization.
To create that ownership, the role of the CDO is growing amongst U.S. businesses. The data finds:
- Sixty-three percent of organizations without a CDO would like to see the role created in the future
- The creation of the CDO role is being driven by three main drivers: a need for a consistent approach to de-risk data driven projects, growing costs due to poor data quality, and increasing regulations.
- Seventy percent of respondents view the CDO as being a "trusted advisor" of data across the enterprise
"CDOs should approach their position as a consultant," said Eugene Kolker, CDO of Seattle Children's—Hospital, Foundation, and Research Institute. "Outreach and education about the importance of data and analytics to the enterprise is critical. CDOs can aid building a vision of people, process, and technology, along with a culture that embraces using data and analytics to address business needs, enable growth, and empower innovation."
"Business leaders finally are learning that to gain valuable insights from information, but they need to create a culture around data," said Thomas Schutz, senior vice president and general manager of Experian Data Quality. "Businesses need evangelists for data and individuals with the intelligence to not only ensure information assets are governed, accurate, accessible and complete, but also promote the use of data for good across the business. The rise of the CDO puts that concept front and center. We at Experian anticipate the CDO role will continue to grow and with it, the concept of data helping businesses and consumers."
To obtain a copy of Experian Data Quality's The Chief Data Officer: Bridging the gap between data and decision-making, please visit https://www.edq.com/whitepapers/chief-data-officer-report/.
About Experian Data Quality
Experian Data Quality is a global leader in providing data quality software and services to organizations of all sizes. We help our clients to proactively manage the quality of their data through world-class validation, matching, enrichment and profiling capabilities. With flexible software-as-a-service and on-premise deployment models, Experian Data Quality software allows organizations around the world to truly connect with their customers by delivering intelligent interactions, every time.
Established in 1990 with offices throughout the United States, Europe and Asia Pacific, Experian Data Quality has more than 13,500 clients worldwide in retail, finance, education, insurance, government, healthcare and other sectors. For more information, visit https://www.edq.com.
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft. In 2014, we were named by Forbes magazine as one of the "World's Most Innovative Companies."
We employ approximately 17,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2015, was US$4.8 billion.
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
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SOURCE Experian Data Quality