The 2022 Data Survey Results are in!

First off, congratulations to my friend Randy Bean for a successful acquisition of his firm by french company Wavestone. Second, congrats on celebrating the 10 year anniversary of the Data and AI Executive Survey.?

This past week, his firm published its analysis of the key trends shared by data leaders at some of the biggest movers in the data space — 94 firms from AIG to Wells Fargo, AbbVie to Pfizer, Albertsons to Starbucks. Lots to read of course, but there are a few key take aways that I think we should all pay attention to here. Here is my quick analysis:

Becoming "Data Driven"

• We know that organizations that are data driven are 162% more likely to surpass revenue goals BUT becoming a data-driven organization doesn’t just happen. In this year's survey, we learn that only 26.5% report having achieved that goal, with only 19.3% reporting having established a data culture.
• Cultural impediments remain the greatest barrier to organizations becoming data driven, with 91.9% of survey respondents identifying culture as their greatest challenge.

Executing on your Data Strategy

• Half of the respondents (53.0%) report having developed a corporate data strategy. But less than 60% of them report that these strategies are yielding results.
• Becoming "data driven" and executing on your data strategy will longer than expected. 60% expect it should take at least 2–3 years, the author believes that the truth is probably closer what 30% of respondents have expressed: 4 to 5 years or more.

I hope that this year concepts like the Data Mesh will help our data leaders make progress. For more on this topic, watch the below 3 min segment @ https://cxotalk.com/bruno (embedded below). The relevant section starts at min 9.

Finally. The good, the bad and the ugly for Data Leaders

• 10 years ago, only 12% of companies reported that they had hired a CDO. In 2022, almost 74% of organizations have CDOs. That’s great news!
• BUT. Close to 60% of respondents report that these leaders have yet to demonstrate that it has become successful and well-established.
• TURNOVER remains a challenge. In 2022, 43.2% of respondents report having had 2 or more at this point.

Could this be related to the fact that only to 40 % of organizations data as a business asset?

What Matters in 2022 then?

What are our data leaders top priority areas of investment in 2022?!? Building a Data Platform and Data Health are top of mind, followed by Cloud Migration, Literacy and Data Catalogs.

I'd love to hear your perspective and thought on the report. Randy and his team make it available for free here. Please share it with your teams!