EDM Council Benchmark Report Details Strategic Rise of CDOs
EDM Council, the cross-industry trade association for data management, has released its 2023 Global Data Management Benchmark Report, indicating the importance of Chief Data Officers across industries and the growth of data management as a formal discipline within organizations.
The 2023 Benchmark Report’s data revealed the growing strategic significance of the CDO role and the practice of data management:
- 65% of respondents stated their firm has formally appointed a CDO or Chief Data Executive, up from 60% in 2020
- 86% of finance industry CDOs now report to the C-Suite, increasing from 72% in 2020
- 80% of Data Executives in non-financial markets report to the C-Suite, with 20% of those reporting directly to the CEO