Chief information officers facing increasing data management responsibility as appetite for data insight grows
BOSTON, Oct. 27, 2015 /PRNewswire/ -- Experian Data Quality, a leading provider of data quality software and services, today announced the release of its latest study entitled, The role of the CIO in data management. The study finds that as the desire for data-driven insight grows, there is a need for a more centralized data strategy and data owner. While some organizations are creating a chief data officer (CDO) position, most businesses do not have this role. When there is no CDO, the chief information officer (CIO) handles most of the centralization of the data management strategy.
More than 250 CIOs from large organizations were interviewed for the study, which found that 52 percent of CIOs have become increasingly responsible for data management in the past 12 months. The CIO's main responsibilities in terms of data management are to improve the bottom line through lowering the cost of compliance, to provide platforms to support analytics, and to manage data value and risk.
Improving data management and data quality is no small task for the CIO. The study found the following:
** In the past 12 months, 92 percent of CIOs have experienced problems as a result of poor data quality
** The biggest challenge related to managing data -- experienced by 46 percent of CIOs -- is data quality issue resolution
** Sixty-three percent of CIOs say their ability to exploit data for business insights could use improvement
"Data is of critical importance to organizations and no longer can be managed in siloed, one-off approaches based on individual department needs, as it has been in the past," said Thomas Schutz, senior vice president and general manager of Experian Data Quality. "There are a number of new roles being created in businesses to manage and manipulate data. However, a central key owner on the C-level is needed.
The CIO, while strapped for time, is serving that role in many organizations. The CIO can help put technology, people and processes in place to better manage data and ensure the organization sees value from that asset."
To obtain a copy of Experian Data Quality's The role of the CIO in data management study, please visit https://www.edq.com/white-papers/role-of-the-cio-in-data-management/.
About Experian Data Quality
Experian Data Quality is a global leader in providing data quality software and services to organizations of all sizes. We help our clients to proactively manage the quality of their data through world-class validation, matching, enrichment and profiling capabilities. With flexible software-as-a-service and on-premise deployment models, Experian Data Quality software allows organizations around the world to truly connect with their customers by delivering intelligent interactions, every time.
Established in 1990 with offices throughout the United States, Europe and Asia Pacific, Experian Data Quality has more than 13,500 clients worldwide in retail, finance, education, insurance, government, healthcare and other sectors. For more information, visit https://www.edq.com.
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making.
We also help people to check their credit report and credit score, and protect against identity theft. In 2015, we were named by Forbes magazine as one of the "World's Most Innovative Companies."
We employ approximately 17,000 people in 38 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2015, was US$4.8 billion.
To find out more about our company, please visit http://www.experianplc.com or watch our documentary, "Inside Experian."
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
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