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Deloitte’s 2024 Chief Data Officer (CDO) Survey (available here) highlights a critical insight: data quality is a cornerstone of success for organizations navigating today’s complex business environment. The report emphasizes the importance of accurate, actionable data in driving growth, efficiency, and AI innovation while addressing challenges like data quality, culture, and evolving regulatory demands.
At RevenueBase, our vision is to help businesses turn business data into a strategic asset. We provide the most accurate company and contact data to empower B2B sales, marketing, and operations teams to connect with their ideal customers and achieve superior results. As we expand our offerings, we are developing tools to help data teams tune their own data. For example, our email verification solution can validate nearly any business email, including catch-all domains, providing a critical signal about whether someone is still with their company.
The Deloitte report underscores the transformative potential of high-quality data. By prioritizing accuracy and reliability, organizations can unlock new opportunities, align data with strategic goals, and thrive in an increasingly competitive, data-driven world.
The CDO role is expanding in influence, with organizations increasingly relying on data not just for decision-making but as a strategic advantage. This aligns closely with our mission at RevenueBase: delivering unmatched data precision to help businesses thrive in a data-driven world.
Key Takeaways from the Report
Data Strategy as a Competitive Edge
Over 73% of CDOs now have a formal data strategy in place, enabling a shift from strategy development to implementation. Data teams have made progress in building robust data infrastructure, while business teams are using the data to change the game.
The Role of AI in Driving Transformation
AI and Generative AI have become top priorities, with 49% of CDOs highlighting their importance for the next 12 months. These technologies are reshaping industries by automating processes, improving decision-making, and personalizing customer experiences.
Challenges in Achieving Data Excellence
Despite progress, 66% of CDOs cite organizational culture as a barrier to data strategy implementation, and 59% identify data quality as a key hurdle to successful AI adoption.
Data as a Strategic Asset
Over 66% of CDOs report improving business process efficiency and compliance through data initiatives. This underscores a universal truth: data quality is a differentiator.
What This Means for the Future
The insights from Deloitte’s 2024 CDO Survey are a testament to the growing importance of data leadership in today’s business landscape. Whether it’s integrating AI, ensuring compliance, or simply connecting with the right audience, the message is clear: quality data powers progress.
At RevenueBase, we’re proud to support businesses in navigating this evolving data landscape. Our focus on accuracy and access enables teams to unlock the full potential of their data, driving results that align with the broader trends highlighted in the report.
Explore the full Deloitte 2024 CDO Survey here to see how CDOs are shaping the future—and let’s continue to transform business data together.
At RevenueBase, we deliver the industry’s most reliable and actionable B2B data to help businesses achieve their strategic goals. Discover how we can empower your organization to reach new heights. Contact us today.
