{"id":97361,"date":"2023-04-20T10:03:27","date_gmt":"2023-04-20T03:03:27","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=97361"},"modified":"2023-04-20T10:04:33","modified_gmt":"2023-04-20T03:04:33","slug":"gartner-said-less-than-half-of-data-and-analytics-teams-effectively-provide-value-to-the-organization","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/gartner-said-less-than-half-of-data-and-analytics-teams-effectively-provide-value-to-the-organization\/","title":{"rendered":"Gartner says less than half of data and analytics teams effectively provide value to the organization"},"content":{"rendered":"\n

Less than half of data and analytics (D&A) leaders (44%) reported that their team is effective<\/a> in providing value to their organization, according to a new Gartner, Inc. survey. Chief data and analytics officers (CDAOs) must focus on presence, persistence and performance to succeed in their role and deliver measurable business results.<\/p>\n\n\n\n

\u201cD&A is in the business of driving stakeholder value,\u201d said Donna Medeiros<\/strong>, Senior Director Analyst, at Gartner. \u201cThe most successful 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.\u201d<\/p>\n\n\n\n

Successful CDAOs project executive presence<\/h3>\n\n\n\n

The survey found that D&A leaders who rated themselves as \u201ceffective\u201d or \u201cvery effective\u201d across 17 different executive leadership traits correlated with those reporting high organizational and team performance. For example, 43% of top-performing D&A leaders reported effectiveness in committing time to their own professional development, compared with 19% of low performers.<\/p>\n\n\n\n

\u201cSuccessful CDAOs must be elite leaders,\u201d said Alan Duncan<\/strong>, Distinguished VP Analyst, Gartner. \u201cTop-performing CDAOs invest in their success by developing skills to thrive in ambiguous circumstances, articulate compelling value stories and identify D&A products and services that can drive business impact.\u201d<\/p>\n\n\n\n

CDAOs must be persistent to meet newdemands<\/h3>\n\n\n\n

The survey found that CDAOs are tasked with a broad range of responsibilities, including defining and implementing D&A strategy (60%), oversight of D&A strategy (59%), creating and implementing D&A governance (55%) and managing data-driven culture change<\/a> (54%).<\/p>\n\n\n\n

Furthermore, many D&A functions are receiving increased investment, including data management (65%), data governance (63%) and advanced analytics (60%). The mean reported D&A budget is $5.41 million, and 44% of D&A teams increased in size in the last year.<\/p>\n\n\n\n

\u201cThe demands being placed upon D&A, as well as increased investment, reflect a growing confidence in CDAOs\u2019 abilities and recognition of the data office as an indispensable business function,\u201d said Medeiros. \u201cHowever, this leads to more work as pressure grows for D&A to achieve tangible business results.\u201d<\/p>\n\n\n\n

To build an effective D&A team, CDAOs must have a robust talent management strategy that goes beyond hiring ready-made talent. This should include education, training and coaching for data-driven culture and data literacy, both within the core D&A team and the broader business and technology communities.<\/p>\n\n\n\n

D&A Performance Must Tie to Business Strategy<\/h3>\n\n\n\n

The survey found that 78% of respondents rank corporate or organizational strategy and vision as one of the top three inputs to the D&A strategy. Additionally, 68% are prioritizing D&A initiatives based on alignment to strategic goals.<\/p>\n\n\n\n

\u201cCDAOs who prioritize strategy over tactics are the most successful,\u201d said Duncan. \u201cBecause the CDAO serves multiple stakeholders across the business, they must align with organizational strategic priorities and focus on selling the D&A vision to the CEO, CIO and CFO as key influencers.\u201d<\/p>\n\n\n\n

Consumer protection must be priority for crypto banking, says industry veteran<\/a><\/p>\n\n\n\n

Bangchak successfully concludes its annual general meeting<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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