Why Chief Data Officers are key to unlocking digital transformation for Indian businesses

The vital role of Chief Data Officers in advancing digital transformation in Indian companies

The Chief Data Officer (CDO) is a new important role in companies because data is becoming more important for business. The CDO works closely with other important people in the company and has a big influence across the organisation.

A study by IBM Institute for Business Value found that CDOs are under a lot of pressure to deliver results. Their job can be different depending on the company, and they usually only stay in the role for 4.5 years.

Companies want to use technology to grow their business, but they also need to make sure their data is safe. Most Indian CDOs said that making sure their data is secure is the most important thing. They also want to be ready to use the cloud.

The study found that more than half of the Indian CDOs said that keeping data secure is the most important part of their job. But not all of them are confident that their company's data is safe. Because of this pressure, CDOs are looking for ways to create value and protect it at the same time.

Siddhesh Naik, Country Leader, Data, AI & Automation, and Technology Sales, IBM India & South Asia, says, "As Indian businesses continue to progress on their transformation journeys, their CDOs need to create a clear line of sight from data to value and engage with ecosystem partners – while making sure that their data investments accelerate business growth and are a central element of business model innovation."

Some of the key India findings in the 2023 study include:

• Most CDOs (76 percent) believe that data security is the most important part of their data architecture, followed closely by being cloud-ready (71%) and having fast, real-time access (70 percent). 
• For 57 percent of CDOs, the most important responsibility is ensuring data security, and 56percent focus on increasing data ROI. 
• Only 56 percent of CDOs think their company's data is secure, while 68% believe their customers' data is secure. 
• CDOs are using AI and machine learning (67 percent), automation (64 percent), and hybrid cloud technology (66 percent) to unlock the value of data. 
• Less than half (48 percent) of CDOs say that they are making better and faster decisions by using AI and data, and only 38 percent are using AI to automate decision-making. 
• Over 61 percent of CDOs have set clear thresholds for automated decision-making. 
• 74 percent of CDOs work with ecosystem partners who are highly involved in their data strategy. 
• About 53 percent of CDOs say their data management strategy aligns with their digital transformation efforts.