The relatively recent positions of "Chief Data Officer" is helping companies maximize the management and monetization of a company's data. What was once the province of the CIO, is now often being thought of in a different light in how companies manage their data as a core business asset, including looking to collaborate with third parties in sharing such data for additional revenue, additional data or other consideration. The roles of CDO's will be more common as the value of data continues to grow, and the integration between the CEO, CDO, CIO and GC will be critical in managing all of the issues that arise with big data. We are seeing this on a regular basis with our clients and see these trends accelerating in the coming year.
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Chief Data Officers driving management and monetization of company data
Organizations with an executive CDO are seven times more likely to generate cash by sharing or selling data externally and are three times more likely to generate other forms of commercial data by sharing their data assets with external players.