One might conclude it makes a lot of sense to insure business data after considering Tableau’s report that included Ponemon’s estimate that the “average total cost of a data breach was estimated at $3.62 million.” The December 2017 report entitled “2018 Top 10 Business Intelligence Trends” included the #5 Rise of the Chief Data Officer (CDO)
The fact that CDO’s and/or CAO’s are being appointed and assigned accountability for business impact and improved outcomes, also demonstrates the strategic value of data and analytics in modern organizations.
Also the report included these comments from Peter Cregger (CDO at FNI):
My job is to bring tools and technologies and empower the team.
You have to decide where the pain point is.
What is the real risk to your business?
Here are all 10 trends:
- Don’t Fear AI (Artificial Intelligence)
- Liberal Arts Impact
- Promise of NLP (Natural Language Processing)
- Multi-Cloud Debate
- Rise of the CDO
- Crowd Sourced Governance
- Data Insurance
- Data Engineer Role
- Location IoT (Internet of Things)
- Academics Investment
No surprises in this list!