A recent survey by Gartner has revealed that only 44% of data and analytics (D&A) leaders believe their team is effective in providing value to their organization.<\/p>\n
Donna Medeiros, Senior Director Analyst at Gartner, stated that “the most successful Chief data and analytics officers (CDAOs) are outperforming their peers by projecting an executive presence and building an agile and strategic D&A function that shapes data-driven business performance and operational excellence.”<\/p>\n
From September to November 2022, the survey was conducted globally among 566 D&A leaders, and it discovered that D&A leaders who rated themselves as “effective” or “very effective” across 17 different executive leadership traits correlated with those reporting high organizational and team performance. For example, 43% of top-performing D&A leaders said they were effective at devoting time to their own professional development, compared to 19% of low performers.<\/p>\n
CDAOs are responsible for defining and implementing D&A strategy, overseeing D&A strategy, creating and implementing D&A governance, and managing data-driven culture change. Additionally, D&A functions such as data management, data governance, and advanced analytics are seeing increased investment. The average reported D&A budget is $5.41 million, and 44% of D&A teams grew in size over the previous year.<\/p>\n