Use it or lose it – data alone is no loyalty-maker

November 27, 2015 4:32

For all the focus on data those in the media industry often struggle with the human element of using the plethora of information at our disposal argues Katie Rockliff.

Unless you’ve been living under a rock these last few years, you will have noticed that data has emerged as the undisputed king of all things in big business today.

According to ‘Wider: The rise of the CDO’, the appointment of a chief data officer is a transformational change that elevates the importance of data to the top of the organisation; 25 per cent of Fortune 500 companies now employ a CDO (source: IBM). A further 25 per cent plan to have a chief data office employed by 2017 (up from just 6 per cent in 2013), a figure that jumps to 50%per cent in heavily regulated industries such as banking and insurance.

Danny Gilligan, co-founder of Venture capitalist firm, Reinventure, proclaimed to BRW, “When we look at the disruptive transformation of most industries, data sits at the heart of everything.”

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Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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