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NEW YORK, Dec. 8, 2022 /PRNewswire=KYODO JBN/ --

  --Biennial study uncovers expanding role of the CDO and wider establishment

    of data management across industries worldwide

EDM Council, the cross-industry trade association for data management, has

released its 2023 Global Data Management Benchmark Report (

https://c212.net/c/link/?t=0&l=en&o=3731325-1&h=1496432454&u=https%3A%2F%2Fapp.smartsheet.com%2Fb%2Fform%2F897efe1b8f0548cc8ae6d96a472f804a&a=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 Chief Data Officer role and the practice of data management, specifically

that:

  - 65% of respondents stated their firm has formally appointed a Chief Data

Officer 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% Data Executives in non-financial markets report to the C-Suite, with

20% of those reporting directly to the CEO

"In my 30+ years as a data executive, the scope of responsibilities has

expanded considerably, but especially so in the last few years," said John

Bottega, President, EDM Council. "This year's Benchmark Report shows Data

Executives, and the data management function as a whole, taking on a much

greater strategic role as they help to define not only their firm's data

management vision but also their analytics, AI/ML, ESG and sustainability data

direction."

This fourth edition of the Benchmark Report saw a three-fold increase in

overall participation, plus responses from more industries, with 58% of

responses coming from non-financial companies, a 27% increase from the 2020

survey. The Benchmark studies use DCAM (

https://c212.net/c/link/?t=0&l=en&o=3731325-1&h=2582440730&u=https%3A%2F%2Fedmcouncil.org%2Fpage%2Faboutdcamreview&a=DCAM

) (Data Management Capability Assessment Model), which outlines best practices

for data programs, as the framework to assess how the profession as a whole has

progressed its data management program agenda.

Survey participants indicate that 80% have data governance programs in progress

or already established. The Report also highlights the critical role of

responsible, ethical management of the public's data but the need for

improvement, with only 62% of respondents indicating the establishment or

progress of sustainable data analytic governance programs, although this has

increased from 51% in 2020. The topic of data literacy as a crucial element of

a strong data-driven culture is also represented in the analysis as a key

factor of a firm's overall success. Download the Benchmark Report (

https://c212.net/c/link/?t=0&l=en&o=3731325-1&h=1616941244&u=https%3A%2F%2Fapp.smartsheet.com%2Fb%2Fform%2Fc252e4ac08594d8e92b17a8fefdfa61d&a=Benchmark+Report

).

About EDM Council

EDM Council is the global association created to elevate the practice of data

management and analytics as a business and operational priority. The Council is

the leading, global advocate for the development and implementation of data

standards, best practices and comprehensive training and certification

programs. With over 350 member global organizations from the Americas, EMEA and

Asia, and over 15,000 data management professionals as members, EDM Council

provides a venue for data professionals to interact, communicate, and

collaborate on the challenges and advances in data management and analytics as

critical organizational functions. For more, visit https://edmcouncil.org/.

SOURCE  EDM Council

CONTACT: Greg Tarmin, +1 917-868-7791, greg@paragonpr.com