Current business trends can contribute to the increase in data silos, regardless of how quickly data management technology and data models evolve. I believe sound data management remains the bedrock of any successful and transformational IT strategy. Today’s chief data officers (CDOs) sit at the intersection of three critical business and IT objectives:
- Agility: To be competitive, I believe organizations must be more agile than ever before. Whether it’s entering new markets or exploiting competitive opportunities for mergers and acquisitions, organizations are in a state of constant change — and IT needs to not only keep up with that change but also help enable it.
- Insight: To be agile and make better and more informed decisions quickly, I’ve noticed that organizations are creating massive volumes of data while also trying to gain knowledge from that data.
- Cost Reduction: IT organizations face pressure to reduce operating costs (do more with less). Not surprisingly, cost reduction is often at odds with other strategic objectives.
I believe successful CDOs will be those that enable organizational agility and insight while lowering costs. To get there, they will need to embrace new tools, technologies and processes. The path to great rewards, however, is often littered with certain risks.
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