Your data is costing you a fortune! How can this be, after all your top executives have rigorously focused on budget and resource management reducing the overlap of applications and the duplication of processing efforts throughout the organization. Congratulations, you have successfully positioned and managed data as a byproduct of application processing. Data is not being handled like the organizational asset everyone claims it to be.

In order to embrace the value and power of data in this rapidly evolving digital era, a companywide approach must be adopted. New roles, responsibilities, organizational commitments and executive buy-in must be generated to elevate the importance of data throughout the organization. In a recent keynote at the MDM and Data Governance Summit, I outlined the responsibilities of a chief data officer. The CDO is an emerging role to which organizations are increasingly turning to help address the growing gaps in managing and harnessing the value of data.

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