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New Data ROI Report: The Data Office Playbook v1.0

The EDM Council convened the Data Office ROI Working Group to develop comprehensive guidelines to help organizations navigate data challenges. The downloadable report discusses these challenges and recommended data management best practices for developing a return on investment (ROI) for the data office. The Data Office ROI Playbook v1.0 is the culmination of intense work by more than 125 cross-industry practitioners and interviews with 15 CDOs around the world over the course of 15 months.

Download Data Office ROI Report: Playbook v1.0

The Data Office ROI Playbook v1.0 consists of:
  • 7 steps, 28 plays and 4 actions that any organization can implement
  • Mappings of data ROI to DCAM (Data Management Capability Assessment Model), CDMC (Cloud Data Management Capabilities), and ESG (Environment, Social and Governance) frameworks from the EDM Council
  • 16 business cases and 19 case studies

Waters Technology: Putting a price on your head (of data): The ROI of a CDO

EDM Council In the News: Waters Technology

The chief data officer has become recognized as a key role in a financial firm’s ability to manage its data assets, and reduce costs and risk. So why is it also so notoriously short-lived?

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Read the full article by Max Bowie, featuring EDM Council, the Data ROI project and working group, DCAM, CDMC and more in Waters Technology (subscription required).

YDC announces General Availability of YDC Data Economics Center

YDC just announced the General Availability of YDC Data Economics Center, with YDC Data Products allowing users to tie the value of their data initiatives to industry frameworks such as EDM Council’s Data Management Capability Assessment Model (DCAM) and Cloud Data Management Capabilities (CDMC).

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EDM Council has released its 2023 Global Data Management Benchmark Report

EDM Council Benchmark Report Details Strategic Rise of Chief Data Officers 
Biennial study uncovers expanding role of the CDO and wider establishment of data management across industries worldwide

New York, NY, December 8, 2022 – EDM Council, the cross-industry trade association for data management, has released its 2023 Global Data Management Benchmark Report, indicating the importance of Chief Data Officers across industries and the growth of data management as a formal discipline within organizations.

The 2023 Benchmark Report’s data revealed the growing strategic significance of the Chief Data Officer role and the practice of data management, specifically that:

  • 65% of respondents stated their firm has formally appointed a Chief Data Officer or Chief Data Executive, up from 60% in 2020
  • 86% of finance industry CDOs now report to the C-Suite, increasing from 72% in 2020
  • 80% of Data Executives in non-financial markets report to the C-Suite, with 20% of those reporting directly to the CEO

“In my 30+ years as a data executive, the scope of responsibilities has expanded considerably, but especially so in the last few years,” said John Bottega, President, EDM Council. “This year’s Benchmark Report shows Data Executives, and the data management function as a whole, taking on a much greater strategic role as they help to define not only their firm’s data management vision but also their analytics, AI/ML, ESG and sustainability data direction.”

This fourth edition of the Benchmark Report saw a three-fold increase in overall participation, plus responses from more industries, with 58% of responses coming from non-financial companies, a 27% increase from the 2020 survey. The Benchmark studies use DCAM (Data Management Capability Assessment Model), which outlines best practices for data programs, as the framework to assess how the profession as a whole has progressed its data management program agenda.

Survey participants indicate that 80% have data governance programs in progress or already established. The Report also highlights the critical role of responsible, ethical management of the public’s data but the need for improvement, with only 62% of respondents indicating the establishment or progress of sustainable data analytic governance programs, although this has increased from 51% in 2020. The topic of data literacy as a crucial element of a strong data-driven culture is also represented in the analysis as a key factor of a firm’s overall success.

Download the Benchmark Report

About EDM Council
EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading, global advocate for the development and implementation of data standards, best practices and comprehensive training and certification programs. With over 350 member global organizations from the Americas, EMEA and Asia, and over 15,000 data management professionals as members, EDM Council provides a venue for data professionals to interact, communicate, and collaborate on the challenges and advances in data management and analytics as critical organizational functions. For more, visit https://edmcouncil.org/.