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Data and analytics leaders are driving digital business transformation as the role of chief data officer (CDO) continues to gain traction within organisations, market research firm Gartner said on Wednesday.
"The steady maturation of the office of the CDO underlines the acceptance and broader understanding of the role and recognises the impact and value CDOs worldwide are providing," Michael Moran, Research Director, Gartner said in a statement.
There has been a steady increase in support for the CDO role globally, of 57 per cent in 2017, as compared against the 50 per cent growth in 2016, according to the third annual Gartner "Chief Data Officer" survey.
Organisations implementing an office of the CDO also rose since last year, with 47 per cent reporting an office of the CDO implemented in 2017, compared with 23 per cent fully implemented in 2016.
"The addition of new talent for increasing responsibilities, growing budgets and increasing positive engagement across the C-suite illustrate how central the role of CDO is becoming to more organisations," Moran added.
With more than one-third of respondents saying "increase revenue" is a top three measure of success, the survey findings show a clear bias developing in favour of value creation over risk mitigation as the key measure of success for a CDO.
According to the survey, CDOs are not focused only on data.
"This increased level of reported responsibility by CDOs reflects the growing importance and pervasive nature of data and analytics across organisations, and the maturity of the CDO role and function," said Valerie Logan, Research Director, Gartner.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)