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Many companies still don't have a Chief Data Officer

data
(Image credit: Shutterstock / whiteMocca)

Businesses are growing more reliant on data, but many organizations still don’t have a Chief Data Officer (CDO) on board. This is according to a new report from business intelligence firm S&P Global Market Intelligence and cloud access control company Immuta.

Polling 525 data leaders in the US, Canada, UK, Germany and France for the report, the two companies found that 40 percent don’t have a CDO, although larger enterprises are more likely to have one in place.

Consequently, 40 percent of respondents that work as data suppliers said they don’t have the skills in-house to handle their positions. For almost a third (30 percent), the lack of automation is the number one headache.

Data is often described as the “oil of the 21st century” and organizations are increasingly looking to make use of it when making business decisions. To make it worthwhile, however, the data needs to be current - and that’s also a problem. 

Almost three-quarters (71 percent) said the number of departments using data keeps growing, while 73 percent added that they expect the number to keep growing in years to come. At the same time, the majority of the poll’s respondents (55 percent) added that the data they get for analysis is often outdated by the time it reaches them.

Going forward, privacy and security requirements will be the biggest roadblocks for data use for most data leaders (84 percent).