Big data has become a strategic imperative. But although C-level executives are increasingly taking control of their organization’s data strategy, they don’t necessarily know what to do with all the data landing on their desks.
The task ahead of many CIOs and chief data officers now responsible for data strategy seems clear enough—turning lots of numbers into valuable and actionable insights.
A 2015 global survey by the Economist Intelligence Unit found that 39 percent of CIOs are primarily responsible for all data initiatives, compared with 23 percent in 2011. Yet across the same period, more companies found it difficult to interpret and make use of all collected data. One in eight companies struggled with this issue in 2011, compared with one in four businesses last year. The more surprising stat: More than half of surveyed executives suspect they leverage only about half of the data they have. Share on X
What are the challenges relative to big data initiatives? Executives cite maintaining data quality, collecting and managing large amounts of data, and ensuring data security.
The task ahead of many CIOs and chief data officers now responsible for data strategy seems clear enough—turning lots of numbers into valuable and actionable insights.
