The Rise of Chief Data Officers
In the future of data, as businesses understand more and more how important data is, we expect to see more Chief Data Officers (CDOs) being hired. These CDOs are responsible for making sure that a company’s data is correct, safe, and easy to use. They create rules about how data should be handled, make sure the data is good quality, and make sure the company follows the rules about data.
According to IDC, the number of Chief Data Officers (CDOs) in the United States is expected to go up from 1,000 in 2019 to 5,000 by 2024. This increase is because data is becoming more and more important for businesses, so they’re hiring someone specifically to handle their data strategies.
- At JPMorgan Chase: Jacqueline Comey is the Chief Data Officer. She’s in charge of coming up with new ways to use data to make the company better, like figuring out innovative ideas and understanding what customers want.
- At Unilever: Arif Karsan is the Chief Data Officer. He uses data to make marketing campaigns work better, make customers feel special, and make the company’s supply chain run smoother. They’re both examples of how companies are using new data technology to get ahead.
Real-time applications of CDOs :
- Data Governance: CDOs are instrumental in developing data governance policies and ensuring adherence to data regulations.
- Data Quality Management: CDOs are tasked with managing data quality, guaranteeing the accuracy and currency of organizational data.
- Data Security: CDOs are responsible for ensuring the security of organizational data, protecting it from unauthorized access.
Top 10 Big Data Trends For 2024
Today, we live in a new digital age where things like Artificial Intelligence and Machine Learning have changed how businesses and society work. Big data trends have become important for understanding what’s happening in the market and making decisions for businesses. With so much data available, companies want to find better ways to use it. Big data trends have been especially helpful during the COVID-19 pandemic, boosting sectors like healthcare and online shopping.
It is expected that the big data market is going to shoot up to 200 USD Billion by 2025. So, let’s check out the Top 10 Big Data Trends for 2024.
List of Upcoming 10 Big Data Trends For 2024
- Growing IoT Networks
- More Approachable Artificial Intelligence
- The Rise of Predictive Analytics
- Cloud Migration of Dark Data
- The Rise of Chief Data Officers
- Quantum Computing
- Smarter and Tighter Cybersecurity
- Endpoint Security
- Cloud Security
- Open Source Data
- Data Democratization
- Data Ethics
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