72% of data and analytics executives lead in digital transformation initiatives
Seventy-two per cent of data and analytics (D&A) leaders with digital initiatives are either leading or heavily involved in their organisation’s digital transformation initiatives, according to Gartner, Inc.’s sixth annual Chief Data Officer (CDO) survey.
“The results indicate that more organisations now understand the synergy between building a data-driven business and leading digital transformation,” said Debra Logan, distinguished research vice president at Gartner. “D&A strategy is a business strategy infused with D&A thinking; it has a primary role in digital business strategy, affecting everything the organisation does.”
Gartner analysts presented these findings during the Gartner Data & Analytics Summit 2021, which is taking place virtually in the Americas through Thursday.
While only 24 per cent of respondents said they are leading digital transformation efforts, the boundaries between CDOs and chief digital officers are becoming more and more blurred. CDOs are increasingly being asked to take on more strategic objectives and lead digital transformation initiatives as the digital business itself transforms to business as usual.
While data quality (51 per cent), ROI from D&A investments (44 per cent) and data sharing (43 per cent) are D&A leaders’ top objectives, their role will not be seen as valuable unless they focus on stakeholders’ KPIs.
“It’s not enough to manage data and create insights,” said Logan. “These activities must deliver measurable business outcomes.
“Data sharing is the way to optimise higher quality data and more robust data and analytics to solve business challenges and goals,” said Logan. “Data sharing is an important KPI and a business necessity. It accelerates digital business transformation.”
Gartner predicts that by 2023, organisations that promote data sharing will outperform their peers on most business value metrics.
CDOs who have business-facing KPIs and multiple business partners are 1.7 times more likely to be effective at consistently producing clear business value by successfully demonstrating ROI from the D&A investments. They are also 2.3 times more likely to be effective at reducing time to market and 3.5 times more likely to be effective at data monetisation.