Informatica, an enterprise cloud data management leader, released the results of its highly anticipated annual CDO Insights survey. The research report—CDO Insights 2023: How to Empower Data-Led Business Resiliency—was informed by a November 2022 survey across 600 chief data officers and chief data & analytics officers in the US, Europe, and Asia Pacific. Findings from the report reveal that cloud and data management investments show no signs of slowing down in 2023, and data governance is the #1 priority for US CDOs.
“CDOs are increasingly more focused on enabling business objectives rather than purely technical ones,” said Jitesh Ghai, Chief Product Officer, Informatica. “Our survey findings align with Informatica customers’ desire for data management capabilities and a well-planned strategy linked to clear business outcomes. By driving organizational alignment on that strategy and making the appropriate data management investments to support it, they will differentiate their organizations, drive clear business outcomes and enable success in 2023 and beyond.”
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Key Findings from the Study
- Despite macroeconomic factors, organizations are increasing their investment in data management.
- 68% of data executives predict increased data management investment in 2023.
- Data fragmentation and lack of cooperation across the business remain an issue.
- 55% of data executives reported having more than 1,000 sources of data in their organization.
- 50% will use five or more tools to support data management priorities in 2023
- Improving data quality and data governance are top priorities globally.
- 52% of data executives cited improved governance over their data and processes as a top data strategy priority for 2023.
- 42% of data executives plan to invest in data quality and master data management capabilities, highly sought-after data management capabilities.
- Strategy alignment is critical; alignment equals investment and success.
- 73% of data leaders with strongly aligned business and data strategies predict increased investments.
- 76% of data executives that reported being very or completely aligned on their data and business strategy also had complete control of their budget.
As data strategies evolve rapidly, data leaders are looking to change and adapt quickly, including exploring new trends such as data mesh, data fabric, data observability, ESG and sustainability, and data marketplaces – all of which require data visibility and governance. As data leaders bring strategies and tools together to achieve their business priorities, developing metrics and measurements for business outcomes is critical. Taken together, these findings emphasize data management, control, and unification in 2023, pointing to an increasing focus on data leadership driving new data strategies and measurable business outcomes.
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