FIMA Study - Uncovering the Progress of the CDO 2.0: Top Takeaways
The role of the CDO in 2018 is on a journey between two worlds. The first is an increasingly outmoded, highly manual and compliance-driven world receding into the past. The second is the world of “Governance 2.0.” In this world, CDOs are using advancements in technology and governance strategies to shift more time and budget away from compliance activities and into the pursuit of stronger data discovery and traceability solutions that help deliver business-driven benefits. The pitfalls of falling behind the pace of change are significant. The existence of siloed data stuck in Excel, noncompatible databases, or paper records, as well as mounting regulatory challenges threaten the ability of data practices to keep up without maintaining a focus on best practices.