In the digital economy, data is like oxygen — giving life to innovation. And just as important, data security establishes the trust needed for that data to deliver value.
In fact, organizations with the most advanced security capabilities delivered 43% higher revenue growth than peers over a five-year period, according to research from the IBM Institute for Business Value (IBM IBV).
Yet, when corrupted or exposed through cyberattacks, data can fuel disruption. The cost of a data breach averaged almost $10 million in 2022 for U.S. organizations. When trust in data is broken, it impedes business growth and drives up spending.
The most successful Chief Data Officers (CDOs) navigate this challenge by establishing trust based on a strong foundation of secure data and then using that trusted data to accelerate opportunities. That is the clear takeaway from two recent studies of more than 3,300 CDOs, conducted independently by the IBM IBV and by Amazon Web Services (AWS).
CDOs in the IBM IBV study cited data security as their most critical responsibility. Similarly, respondents in the AWS CDO Agenda noted data governance — an essential element of data security — as their top priority.
The highest-performing CDOs take these priorities a step further. The IBM IBV study identified an elite group of CDOs who outperform peers by 40% in innovation and 10% in revenue growth. A critical differentiating trait: the way they align data security strategy with operat ..
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