The role of chief data officer is gaining traction in the corporate world, as companies seek to squeeze more value out of a growing trove of digitally-generated information on customers and business processes, IT research from Gartner Inc. reports.
Among other signs of their growing influence, more than half of the CDOs in a recent Gartner survey said they report directly to a chief executive or other top corporate leader. Fifty-seven percent of respondents said they held the formal title of chief data officer, up from 50% in a similar survey last year.
Beyond a corporate title, 47% reported having an "Office of the CDO" in place, either formally or informally, compared to 23% in 2016.
Overall, they reported their strongest working relationships were with chief information officers and chief technology officers, followed by other C-suite executive
The results are based on responses from 287 chief data officers, chief analytics officers and other high-level data and analytics executives at companies in a range of industries around the world. This is the third consecutive year that Gartner has surveyed CDOs.
More than one-third of respondents in the latest survey said their top priority is to "increase revenue" and create value around data. That marks a shift from previous years, when most CDOs were focused solely on data governance, analytics and regulatory issues, Valerie Logan, a Gartner research director, said in a statement.
That outgrowth in responsibilities "reflects a growing importance and pervasive nature of data and analytics across organizations," Ms. Logan said.
As CDOs, their roles and responsibilities now encompass everything from data management and analytics, to ethics and digital transformation, the survey found. As many as 36% said they have a responsibility for profit and loss, or P&L.
About 35% said that "poor data literacy" within their companies was among the top barriers to achieving their goals.