1、CDO Outlook 2023Data knights in shining armourPerspectives from Chief Data Officers(CDOs)2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a

2、private English company limited by guarantee.All rights reserved.ForewordPerspective deep-divesPath to value realisationMethodology and acknowledgementsAbout KPMG01 The evolution in CDOs standing02 Seat at the table03 Offensive from defensive04 Modernising the data estate05 Scaling up with AI06 Data

3、 productisation07 Data ROI/Value08 Crossing the cultural chasm01 Synergising business and data strategy02 Harnessing the modern data estate03 Weaving data into the fabric of organisationalculture04 Demonstrate data valueContents 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liabi

4、lity Partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.CDO Outlook 2023 3ForewordExecutive summaryPerspectives deep-dive457Path to value realisation01

5、.CDOs at the forefront of data led transformation02.Seat at the table03.Going beyond defensive04.Modernising the data estate05.Scaling up with AI and cognitive technologies06.Productising data07.Formalising value from data08.Crossing the cultural chasm15Survey methodology and acknowledgementsAbout K

6、PMG Lighthouse the Global Center of Excellence for Data,AI and Emerging Technologies DCAM benchmarking summary232421About EDM Council25CDO Outlook 2023 4ForewordWe hear it quite often these days”data is the new oil”;“data is the new fuel”;“data is the new gold”.But do we ad-hear to it?Do we commit t

7、o managing this incredibly important asset with the priority it requires the priority it deserves.And do we really appreciate how important this fuel,this oil,is to our accelerated dependency on analytics,machine learning and artificial intelligence?This is where the rubber meets the road and where

8、all organisations,across all industries need to be moving towards.Managing a companys information assets is as important as managing a companys financials.Do it correctly and you will grow your business,leverage new technology,reduce risk and stay compliant with regional and international policy,eth

9、ics and best practices.Handling it incorrectly,and you can put the brakes on your organisations momentum and ability to compete in todays complex business environment.Going digital and realising its benefits can only be realised if the information that feeds your application and analytics is accurat

10、e,timely and trusted.Your information must be accessible yet protected,intuitive,yet used ethically.And like any important asset,a company must have faith in the senior executive entrusted to manage the asset the Chief Data Officer.The emergence of the CDO,now just about 21 years old,has grown from

11、a back-office function to front-and-center in todays executive suites.But there is still much to be done.Firms must embrace this new paradigm and alter their culture to be nimble,yet responsible in leveraging a firms information.This will require leadership from the top,and data management acumen fr

12、om everyone else.DCAM the data management capability assessment model,developed by the EDM council,was designed to help organisations raise their information management knowledge.To create a common data language that firms can rally around and use.The report you are about to review is a summary of a

13、n extensive survey conducted by KPMG in India,asking leading organisations across India about their data management readiness.Do they have that senior executive that is providing a data vision?Does that individual have a seat at the table?Are they bringing business and technology together with data

14、to drive their business?As firms progress along this journey,leveraging best practice models like the DCAM,learning from others who have forged the way before them,is the recommended approach to bringing your organisation into this new digital information reality.There are many insights to be gleame

15、d from this report.Read it carefully and adhere to its advice and recommendations.Your firm will thank you for it.John BottegaPresidentEDM Council 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent

16、member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent member firms affiliated

17、with KPMG International Limited,a private English company limited by guarantee.All rights reserved.CDO Outlook 2023 report has been created by conducting surveys and guided interviews with 75+data management leaders,CDOs,CDAOs and data offices across industry sectors in India.Following are the key p

18、erspectives emerging from these discussions on aspects relating to managing and governing data to drive enterprise value.CDO Outlook 2023 5Executive summary1234Modernisingthe data estateGoing beyond defensiveCDOs at the forefront of data-led transformationSeat at the tableCDOs are no longer playing

19、it safe with a defensive strategy-they have taken strategic pivot towards an offensive approach69%are investing in data quality initiativesCDOs are appointed as the strategic leaders who drive data innovation,foster a data-driven culture,and contribute significantly to an organisationsoverall succes

20、s in the digital ageCDO is fast becoming the must-have position at the leadership table as it intends to deliver strategic improvements to the organisationCDOs role,influence,and impact is determined by reporting structure to C-suiteCDOs believe that technology is accelerating the delivery of emergi

21、ng analytics use-casesPlatform modernisationovercomes current key challenges dependence on legacy systems,interoperability and integration,etc.Over 70%of CDOs identify themselves as data strategists and collaborators82%of CDOs report to a member of the C-suite51%are enabling AI/ML and data analytics

22、 use-cases56%have identified legacy system/complex data infrastructureas their key70%82%51%56%Key perspectives from CDOs today 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent member firms affilia

23、ted with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Key perspectives from CDOs todayCDO Outlook 2023 6Executive summary5678Crossing the cultural chasmFormalisingvalue from dataScaling up with AI and cognitive technologiesProductisingdataCDOs are bei

24、ng asked to demonstrate tangible business outcomes and commercial valueKey challenge remains to ascertain revenue increase,opportunity cost saved and competitive advantages by data initiativesCDOs see AI and other cognitive technologies as means to scaling up data management by leveraging it for cla

25、ssification,cataloguing,quality,security and workflowsSome key focus areas where organisations are gearing up are generative AI,automated governance and quality,etc.CDOs shifting towards adopting data product-outlook and culture to curate and deploy data products for analytics use-casesPurpose is va

26、lue creation through curating high-quality reusable data and analytics products to empower consumersChange management defines the ways of engagement with stakeholders to increase awareness and buy-in to change,and drive end-user readiness and adoptionData literacy is not just a KRA anymore,but a cri

27、tical KPI for CDOs and data offices60%16%66%72%Nearly 60%are seeking to adopt intelligent and AI-enabled data management in theirorganisationOnly 16%were successfully able to arrive and implement direct data monetisationvia data-as-a-product.66%have confirmed reduction in cost via improved efficienc

28、y/automation/faster time to market as their primary ROI metric72%have confirmed that while data literacy programmesare in place in their organisations,the level varies across multiple business functions 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a mem

29、ber firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.CDO Outlook 2023 7Executive summaryPerspectives deep-divesPath to value realisationDCAM benchmarking summary01 CDOs at th

30、e forefront of data led transformation02 Seat at the table03 Going beyond defensive04 Modernising the data estate05 Scaling up with AI and cognitive technologies06 Productising data07 Formalising value from data08 Crossing the cultural chasm01 Synergising business and data strategy02 Harnessing the

31、modern data estate03 Building trust in data04 Weaving data into the fabric of organisationalcultureSurvey methodology and acknowledgementsAbout KPMG LighthouseAbout EDM Council01CDOs need to be at the forefront of data-led transformationResponses from CDO Outlook 2023 have clearly brought out the fa

32、ct that CDOs are leading from the front in enabling data led transformation for their organisations.The role of a Chief Data Officer has also evolved over the last couple of decades.Traditionally,the role was largely focused on regulatory compliance,setting up and building foundational capabilities

33、such as enabling data governance and standards,data quality and master data management to support data management and business intelligence initiatives.With exponential growth in data,digitalisation,emergence of new business models and opportunities to deliver value through data,the CDO roles have e

34、xpanded across all industriesCDOs today hold responsibilities of not just managing data but also rendering a spectrum of influence-from harnessing data potential to driving innovation and digital transformation.What are the different roles played by CDOs?Driver of data strategyDrives the data strate

35、gy by defining and maintaining oversight on its implementation and acting as an influencer for data cultureData governorData governor for metadata,data quality and master data management initiatives including establishing polices,roles and responsibilitiesData entrepreneurData entrepreneur via data

36、monetisation and data based innovationCollaborator Spearheading data initiatives by collaborating with business and technology teamsData defenderDefender-managing data risks,security and privacy concernsMore than 75%of the respondents have been delivering data initiatives with prime focus on driving

37、 data strategy and scaling the data capabilities across the organisationby working and collaborating closely with the business.While very few CDOs(USD 1bn16%of responses organisations with revenue between USD 38.5mn and USD 1bn13%of responses from organisations with revenue USD 38.5mnSurvey responde

38、nt profilingEmerging bloomers 5 Years of data office set-upEarly adopters2-5 Years of data office set-ups88%12%28%23%35%14%18%35%18%29%0-1515-Size of the data office26%36%38%IndianGCCCDO Outlook 2023 24Executive summaryPerspectives deep-divesPath to value realisationDCAM benchmarking summ

39、ary01 CDOs at the forefront of data led transformation02 Seat at the table03 Going beyond defensive04 Modernising the data estate05 Scaling up with AI and cognitive technologies06 Productising data07 Formalising value from data08 Crossing the cultural chasm01 Synergising business and data strategy02

40、 Harnessing the modern data estate03 Building trust in data04 Weaving data into the fabric of organisationalcultureSurvey methodology and acknowledgementsAbout KPMG LighthouseAbout EDM Council 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm o

41、f the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.About KPMG Lighthouse the Global Center of Excellence for Data,AI and Emerging TechnologiesLeverage data-driven insights and emergi

42、ng new technologies to transform your business with KPMG Lighthouse.Who we are:KPMG Lighthouse the Global Center of Excellence for Data,AI and Emerging Technologies combines the latest technologies and capabilities alongside our deep-rooted domain expertise to accelerate innovation and drive speed a

43、nd relevance to our clients businesses.Our people leverage data,analytics,and artificial intelligence to accelerate digital transformation at a global scale.What sets us apartWe take a business-first perspectiveLeveraging deep industry and process knowledgeWe lead in AIAt every opportunity,accelerat

44、e innovation01020304Focused on solving complex business issues with analytics,rather than a technology-first approachTo define problems,articulate and build domain solutions,and deliver broad-ranging servicesAcross the spectrum,create analytics,artificial intelligence and automation solutions that t

45、ransform business and operating modelsSupporting ideas at the pulse of emerging technologies,such as Internet of Things(IoT)and blockchainCDO Outlook 2023 25Executive summaryPerspectives deep-divesPath to value realisationDCAM benchmarking summary01 CDOs at the forefront of data led transformation02

46、 Seat at the table03 Going beyond defensive04 Modernising the data estate05 Scaling up with AI and cognitive technologies06 Productising data07 Formalising value from data08 Crossing the cultural chasm01 Synergising business and data strategy02 Harnessing the modern data estate03 Building trust in d

47、ata04 Weaving data into the fabric of organisationalcultureSurvey methodology and acknowledgementsAbout KPMG LighthouseAbout EDM Council 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent member fir

48、ms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.About EDM CouncilGlobal networking and member engagementWe facilitate the global community.The EDM Council fosters business relationships,networking and events to help professionals imple

49、ment change in their organisations.This includes conferences,webinars,workgroups and the online community,EDMConnectTM.Regulation and complianceWe consult and advise global regulators on data and analytics issues.Many regulators are EDM Council members because of our neutrality.They reference our fr

50、ameworks for internal use and external oversight responsibilities.Benchmarking and industry surveysWe assess the progress of data and analytics management across industry.Using the DCAM model provides a standard mechanism to evaluate the state of data and analytics management and its evolution.Membe

51、rs also use the framework to analyse their own firms progress.Best practices and industry work groupsThe EDM Council and its members define the capabilities and processes to implement sustainable data and analytics management.The EDM councilIs a cross-industry,non-profit,Global association created t

52、o lead best practices,standards and education in data management and analytics.The prime goal of data management andanalytics is to provide trusted and comprehensivecapabilities to meet business objectives.Toensure professionals can advance these criticalfunctions,the members of the EDM Council focu

53、son six key areas of advocacy below:Best practices and industry work groupsTraining and certificationData standards and ethicsGlobal collaboration and networkingRegulation and complianceBenchmarking350+global member firms25,000+professionalsData Management Capability Assessment modelDCAM is the best

54、 practice standard for datamanagement and analytics,highly adopted by our members cross-industry and by regulators as an independent standard,promoting data excellence.DCAM defines the strategic,organisational,technology and operational capabilities to establish and sustain a mature data management

55、and analytics function plus enable digital transformation,advanced analytics and emerging generative AI initiatives,while incorporating principles of data ethics.CDMCTM:Cloud Data Management Capabilities CDMC extends the DCAM framework in the era of cloud computing to accelerate cloud adoption while

56、 maintaining risk and compliance controls,including for generative AI solutions.This initiative is led by EDM Council with participation from the worlds top Cloud Service Providers(CSP):Amazon Web Services(AWS),Microsoft Azure,Google Cloud,IBM Cloud and 100+leading financial and cross-industry firms

57、.It includes 14 key controls and automations for protecting sensitive data in cloud,which are also now available through the major CSPs.CDO Outlook 2023 26Executive summaryPerspectives deep-divesPath to value realisationDCAM benchmarking summary01 CDOs at the forefront of data led transformation02 S

58、eat at the table03 Going beyond defensive04 Modernising the data estate05 Scaling up with AI and cognitive technologies06 Productising data07 Formalising value from data08 Crossing the cultural chasm01 Synergising business and data strategy02 Harnessing the modern data estate03 Building trust in dat

59、a04 Weaving data into the fabric of organisationalcultureSurvey methodology and acknowledgementsAbout KPMG LighthouseAbout EDM Council 2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent member firms

60、 affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Data ROI The Data ROI(Return on Investment)workgroup collaborates with industry leaders and SMEs to develop a standard best practice framework for defining ROI of data management programmes

61、,including measuring data as an assetESG Data Management The ESG workgroup develops best practices in the identification,collection and use of ESG(Environmental,Social and Governance)data.Cross-industry participants include major firms,key data and ratings companies,wealth management firms and leadi

62、ng regulators and standards bodies.Training&CertificationWe promote learning to prepare professionals for their next challenge,with in-depth training for DCAM,CDMC,data ethics&responsible AI,and OKG/FIBO,leading to accreditation and certification.eLearning programmes cover 7 development tracks and o

63、ffer 50+courses.Data StandardsWe advocate knowledge graph industry standards and training,plus global data standards such as LEI,ISO,and OMG.Open Knowledge Graph&Data Innovation LabMembers collaborate in the Data Innovation Lab,developing industry ontologies and shared industry use cases.This includ

64、es the Financial Industry Business Ontology(FIBO),an open-source semantic standard describing financial instruments,legal entities and financial processes,for IDMP(Identification of Medicinal Products)for the pharmaceutical and healthcare industry,and for other industries.Authors 2023 KPMG Assurance

65、 and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Amit PatnaikPartnerKPMG Lighthouse Data,AI&

66、Emerging TechnologiesAnkita SinghManagerKPMG Lighthouse Data,AI&Emerging TechnologiesAnuj KumarDirectorKPMG Lighthouse Data,AI&Emerging TechnologiesKamesh SrinivasanAssociate PartnerKPMG Lighthouse Data,AI&Emerging TechnologiesNishu JainTechnical DirectorKPMG Lighthouse Data,AI&Emerging Technologies

67、Ranjana SudalaiAssistant ManagerKPMG Lighthouse Data,AI&Emerging TechnologiesSankara SubramanianPartnerKPMG Lighthouse Data,AI&Emerging TechnologiesShraddha RoshanAssociate DirectorKPMG Lighthouse Data,AI&Emerging TechnologiesSoumya RajanManager KPMG Lighthouse Data,AI&Emerging TechnologiesCDO Outlo

68、ok 2023 27KPMG in India contacts:The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity.Although we endeavor to provide accurate and timely information,there can be no guarantee that such information is accurate

69、 as of the date it is received or that it will continue to be accurate in the future.No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.KPMG Assurance and Consulting Services LLP,Lodha Excelus,Apollo Mills Compound,N

70、M Joshi Marg,Mahalaxmi,Mumbai-400 011 Phone:+91 22 3989 6000,Fax:+91 22 3983 6000.2023 KPMG Assurance and Consulting Services LLP,an Indian Limited Liability Partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited,a private

71、 English company limited by guarantee.All rights reserved.The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization.This document is for e-communication only.(018_THL_1023_SP)Sachin AroraPartner&National HeadKPMG Lighthouse Data,AI&Emerging TechnologiesE:Sankara SubramanianPartner KPMG Lighthouse Data,AI&Emerging TechnologiesE: us on: