The Four Big-Time Benefits of Building a Data Marketplace

Chief Data Officers (CDOs) and Chief Data Analytics Officers (CDAOs) have now reached a pivot point. In the early days of these roles, their objective was clear: Reduce organizational risk through regulatory compliance. CDOs and CDAOs took that original goal and they became great at it. They were able to take what was once a very difficult task—to safeguard the organization against fines—and ensure that their organizations had a formulaic way of handling accurate reporting. Even as CDOs and CDAOs have achieved considerable success in that endeavor, new challenges have emerged, challenges that have made the charter of the modern CDO and CDAO much larger than compliance. As a result, the hard work that laid the foundation for safeguarding against regulatory fines—data strategy and governance—is now being put to use for even more important, mission-critical business initiatives. For most organizations, the focus has shifted from compliance to delivering value. Business value comes in many forms, but data is at the heart of their work—after all, it’s literally in the middle of their title.

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The Four Big-Time Benefits of Building a Data Marketplace