We’re riding on the cusp of a data wave at the moment, which means leaving it to the peril of disinterested middle managers is tantamount to data suicide. If corporations want to manage data successfully, it has to be a top priority and headed up by someone whose knowledge of data management is first-class.
If an organization is good at what it does you can guarantee that data is playing a role somewhere. Organizations are also fully aware of the implications that poor data management can bring and the fine line between using data honestly and unjustly. In the eyes of certain consumers data is intimidating and with new legislation coming out of the U.S. all the time to reflect these fears, there needs to be a designated set of eyes coordinating data infrastructure.
Success is a function of success and with organizations wanting to continually thrive within our data-centric landscape they are increasingly turning to Chief Data Officers. As of 2014, there were more than 100 Chief Data Officers in large global companies, a number that is already double the total seen in 2012. This isn’t a development that is likely to plateau anytime soon – it’s predicted that by 2015 there will be 50 billion devices connected to the Internet, which will mean more data, better analytics, and above all, a stronger need for effective data management.
We’re already seeing through the Target breach and the NSA revelations that data management is big news. With the potential for data collection and analytics only set to rise exponentially, who knows where it will lead us in 6 years time?
What is clear is that without a Chief Data Officer in your ranks, effective data management will be a considerable hurdle to overcome.