Having just attended the 16th Annual Chief Data Officer Information Quality (CDOIQ) Symposium July 19-21 on the campus of the Massachusetts Institute of Technology (MIT) in Cambridge, MA, it is evident now more than ever, that the Chief Data Officer role stands at a crossroads.  

As investors think about integrating Environmental, Social and Governance (ESG) factors into their investment processes and strategies, the most important consideration is how quickly they can gain meaningful insights from ESG data to identify opportunities and mitigate risks. 

Data and data-backed analytics, including artificial intelligence and machine learning, are experiencing exponential growth. Businesses are deemed conservative if they have not yet started embracing new trends with data-supported analytics and machine learning. Executives encounter rising pr…

The more I ponder the problem of data, the more I find the human. Today an almighty and ubiquitous technology creates a “there is an app for it” effect, where anything should be possible, simple and affordable, and yet what someone does with that app makes the difference. The more data is pr…

The top three things critical to a business's ability to compete in the market today are a holistic enterprise-wide data strategy, an architecture that helps enable broad access to effective, high-quality data, and a means for maintaining access and governance. And yet, for many organization…

The Internet’s original creators worked on technologies to bind contracts to data. They imagined digital contracts attached to our data everywhere it moves; contracts that assert ownership, record provenance, limit use by others and even revoke access. Had these ideas of binding software to …

The global policy community — including high-level government representatives — turned its attention to the United Nations Conference on Trade and Development (UNCTAD) eCommerce Week in April, which focused on data and digitalization for development. UNCTAD is a U.N. agency supporting 195 co…

There is value in understanding the complexity of all possible permutations that exist amongst data elements. But, the reality is that most business problems require an incredibly narrow focus to achieve optimal business value. So, the critical question is: how do you determine the focus? Us…

Data breaches, hefty fines, and reputational risk are often cited by the health care community as the primary deterrents from sharing and collaborating on sensitive information. While HIPAA and HITECH allow information sharing for diagnostic, treatment, and operational purposes, organization…

The people working in any organization need specific skills, abilities, and knowledge that varies based on their positions. With the rapid pace of technological change, it can be challenging for the staff to keep up. This makes it difficult for the human resources department to match job pro…

Data has become one of the most valuable assets of modern businesses, representing a new way that organizations create value for their business customers and stakeholders. Nonprofits are catching up with their for-profit counterparts, and in their quest to be a data driven organization, are …

Currently, all of your knowledge workers handle data, and they have all learned to handle data absent from any consistent method or guidance. In other words, data handling with most organizations is haphazard, inconsistent, and unaided.

The Datasphere Initiative was publicly launched on April 5, 2022, on the occasion of a G7 multistakeholder meeting. Its mission is to build agile frameworks to responsibly unlock the value of data for all. The virtual event brought together almost 300 policymakers, companies, nongovernmental…

When we hear champions of data, one person such as the CDO (Chief Data Officer)  comes to mind. Having one person who will and who should champion organizational data has challenges.

The UK government has started work on plans to revamp data laws in the wake of Brexit. Its “new direction” for data intends to create a “better data protection regime” in the future. 

In healthcare, practitioners struggle to implement data-driven decision making for several reasons. 

It seems that ever since Facebook made the official name change — rebranding to Meta back in October 2021 during a virtual Facebook Connect event — that the term “metaverse” has become one of the most hyped and buzziest words in media, tech, and corporate America. According to reporting from…

Data security has become a major concern in the past few years, particularly in the health care industry. The industry has witnessed a digital transformation with the evolution of various rules and regulations pertaining to patient data security. In today’s technologically driven world, new …

Entering 2022, privacy technology was identified as the top prediction for increased marketing investment to look for throughout the year. Consumers have voiced anger, confusion, and suspicion over company breaches, unwanted sharing of personal information, and collection of data from other …

Data Governance is a collection of policies, roles, standards, tools, and metrics that help organizations manage and gain better control over their data and data-related assets, ultimately ensuring that the data collected is useful and secure. Businesses with access to high-quality data that…

In our digitally driven world, it’s no surprise that ZDNet reported that the demand for data science-related IT skills saw an increaseof 295% in 2021. Data science is the fastest-growing area of expertise sought out, but only a few people can fill these roles. This means that employers in th…

Since the outbreak of COVID-19, emerging data has shown that all types of violence against women and girls have intensified. One in two women feel unsafe walking alone after dark (ONS, 2021) and nearly half avoid travel at night (TfL), with good reason — since Sarah Everard’s death in March …

Data and analytics have long held promise in helping organizations deliver greater value across the entire stakeholder landscape, including customers, associates, and partners. However, since the beginning of the data warehousing and BI movement, achieving business value rapidly — in alignme…

I attended two Chief Data Officer meetings recently, and two topics permeated the discussions.  First, the challenge of how do firms properly manage the increasing amounts of data that’s created?  This includes data governance, quality, technology, operational concerns, and more broadly, the…

With the promise of a single European data space, the European Union Data Strategy was published in 2020, after years of multi-stakeholder consultation. Its goal is to create a single market for data security as well as enable access to high-quality industrial data, boosting growth and creat…

At the inaugural summit of the Chief Data Officer Data for Good Global Summit held March 10, EDM Council President John Bottega, event chair, asked for a moment of silence as an expression of solidarity with the men, women and children of Ukraine. This poignant moment set the tone for a new …

When Amit Garg and Neel Butala met years ago at the Yale Entrepreneur Institute as students, they realized big data’s potential for improving the healthcare sector. But they were also faced with a problem — relevant data was expensive and difficult to access. Their brainchild, HiLabs, was bo…

Over the past several years, we have seen a significant increase in the volume of available data coupled with more sophisticated and powerful analytic-specific tools and technologies. As the availability and accessibility of this data has increased, so has the desire for easy-to-consume info…

There are material benefits that financial and non-financial corporations alike can expect from stepping up their climate resilience investments. Yet the private sector’s climate adaptation spending remains far below capacity.

As enterprises embark on their digital transformation venture, the global artificial intelligence for IT operations (AIOps) market size is demonstrating a consistent surge in consort with technological advancements across different spheres.

Data transforms our world and how we interact, shop and work at an unprecedented rate. Data is already revolutionizing how companies operate, and it will become increasingly critical to organizations in the coming years.

Data as an Asset (DaaA) is the ultimate objective for any companies on a conscious journey toward enabling data culture. These companies use well defined business outcomes mapped to identified data strategy while supporting changes to existing processes in the data value chain.

Self-driving cars, lifelike robots, and autonomous delivery drones are the major headlines grabbing the face of the digital transformation we witness around us. It's true that none of these would have been possible without data and the analytic technology we have built to allow us to interpr…

As per a study report by Future Market Insights, the global intelligent enterprise data capture software market is estimated at US$ 9 Bn in 2022, and is projected to close in on a valuation of US$ 21.1 Bn by 2029, expanding at a CAGR of 12.9% from 2022 to 2029.

CDO Magazine celebrates women in data science, machine learning and analytics with our special International Women’s Month Series. Featuring known women data leaders in the industry

Has your business experienced a need for data scientists recently? The data science field is still a relatively new one, but demand has skyrocketed so quickly that it sometimes outpaces what businesses are equipped to handle. Thus, many companies are starting to get creative in order to bridge the gap and keep up with the competition.

CDO Magazine celebrates women in data science, machine learning and analytics with our special International Women’s Month Series.

There’s been a great mental shift around data over the past few years. Most organizations have gone from viewing data as a defensive or reflective tool to realizing that it is the ingredient that will help them grow into a market leader.

Relying on biased information undermines the effectiveness of both product development in the private sector and of elaboration and implementation of policies in the public sector. In business, specifically, and if big data is shaping the world, we first need to ask: Who is responsible for s…

When we think of trust, we tend to think of interpersonal relationships. That is, connections between human beings. We may have evidence-based theories for whether we choose to trust someone, based on experience. Or, we may just have a ‘hunch,’ otherwise known as gut instinct.

The amount of data generated by the businesses today is unprecedented. According to the World Economic Forum (WEF), by 2025, it is estimated that 463 exabytes of data will be created globally each day — that’s the equivalent of 200 million DVDs per day [WEF, 2019]. Why is so much captured an…

Why companies are shifting to first-party-data-driven customer experiences

In the financial sector — including fintech companies, digital wallets, banking, lending, microfinancing, investment, brokerages — as well as certain other sectors in some locales (e.g., real estate, iGaming), KYC is mandated by law.

Data culture is a profound shift that has become a key variable in business strategy execution. Adopting a data culture will empower organizations to leverage their data and become truly data-driven organizations. 

The world of data and technology is rapidly growing. Data-driven technologies are shaping behaviours, the way we interact and work. Due to the COVID-19 pandemic, across the world, the shift toward the adoption of technologies and data creation has grown tremendously. 

As we head into 2022, data leaders need to take a moment to consider the challenges and opportunities that come with the new technology landscape ahead. The emergence of the metaverse is going to change the way the game is played. 

A digital twin is a virtual, digital representation of a physical object or process that we can use AI on to rapidly and cheaply get answers about the real-world object or process.

The next stage in creating a data-driven organization

Data engineering as a profession continues to grow in importance, and as more companies push towards revamping legacy systems and overhauling their data strategy, we’ve seen the need for this talent increase dramatically over the past decade. In the past, certain job responsibilities like da…

As professionals whose responsibility is to guide organizations’ data use and governance, CDOs are aware of how data is crucial for good decision making - be of firm-level and sector innovation, as well as government decision making and development more broadly. 

Data is at the core of a successful digital transformation, and many businesses have reached the tipping point where they will not be able to survive using legacy architecture, on-premises datacenters, and traditional operating procedures.

Creating value out of the data assets that organizations hold in order to drive positive business outcomes is now a key agenda in every industry.

Data mismanagement is expensive. Recent research suggests that bad data—meaning low quality data and poor data governance—within an organization comes at a cost of 15-25% of revenue. And findings published in Harvard Business Review suggest that only 3% of companies are meeting basic standar…

Summary: Speed is the top reason that I hear for scaling AI, but a direct approach to generating it often has the unintended consequence of reducing both productivity and business value.  To scale AI across many business units and functions, companies need to balance three organizational beh…