Research Report
Futureproofing with Data: How ANZ CDOs are Preparing for Tomorrow
September 5, 2024
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Executive Summary

This report provides comprehensive insights from over 270 Chief Data Officers (CDOs) and senior data executives across Australia and New Zealand, gathered between March 2024 and November 2023. A prominent theme emerges around the strategic alignment of data initiatives with broader business objectives, highlighting a shift towards closer collaboration between data teams and business unit leaders. Key priorities among CDOs include enhancing operational efficiency and navigating the complexities of data governance and regulatory compliance. Looking forward, CDOs are increasingly focusing on leveraging advanced analytics and AI to drive competitive advantage and innovation.  

Introduction  

The critical role of Chief Data Officers (CDOs) in steering organisations through technological disruptions and fostering a data-driven culture that supports sustainable growth, and resilience is becoming increasingly apparent in 2024. In the rapidly evolving enterprise landscape across Australia, our research highlights the need for CDOs to stay equipped with insights on industry trends, compliance and regulatory changes, and emerging technologies impacting the market.  

Key Findings

1. Smooth collaboration with business unit leaders is vital - Nearly half (48.5%) of the respondents align their department's strategic initiatives with the broader business goals of the organisation through direct collaboration with business unit leaders.  

2. CDO can’t escape cost reduction and efficiency improvement goals - The primary focus of current major initiatives to support business outcomes is streamlining operational efficiency and reducing costs, which accounts for 33.9% of responses.

3. Advanced analytics and AI helping to transform – More than half of respondents (53.6%) foresee that advanced analytics and AI will bring the most significant competitive advantage for their organisation in leveraging technology and data in the next 2-3 years.

4. Overcoming resistance to change is a critical task ahead - The most significant challenge in promoting a culture that values and effectively utilises technology and data across the organisation is overcoming resistance to change, as indicated by 28.9% of respondents.

5. Technological disruptions and innovations are key catalysts - Changes in external factors or trends affecting departmental strategy over the next 2-3 years are primarily driven by technological disruptions and innovations, as indicated by 28.3% of respondents. This underscores the importance of staying adaptable and forward-thinking in response to rapidly evolving technological landscapes.

6. Not everyone leverages data optimally - The majority of respondents (42.3%) describe their company's data culture as data-aware, meaning they use data regularly but not exclusively. This indicates a significant reliance on data, though it is not yet the sole basis for decision-making, highlighting an ongoing transition towards more data-centric approaches in many organisations.

7. We are moderately prepared for evolving tech trends - Most respondents feel moderately prepared to manage the impact of evolving tech trends on their organisation, with 51.5% rating their preparedness at 3 out of 5. This suggests a general sense of readiness, but also indicates room for improvement in adapting to and leveraging new technologies.

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Exclusive membership organisation, Factor, has launched a new Research and Advisory arm, aimed at helping both C-Suite leaders and providers in the enterprise and public sectors. 

It comes after Factor rebranded at the beginning of the 24/25 financial year, with the new identity representing an expanded vision and commitment to offering top-tier thought leadership and networking opportunities to senior executives across ANZ, Singapore and a number of other countries and regions. Now, the new arm of Factor is being spearheaded by VP and Head of Research Craig Baty and VP of Advisory Partnerships Shayne Arundell. 

Craig Baty
VP, Head of Research & Advisory
Factor

With over 30 years of C-level experience in ICT, HR, marketing, sales, operations, market research, and international business, Craig brings a wealth of knowledge and expertise to Factor.  
“I’m pleased to be part of Factor’s expansion into Research & Advisory services, and I’m looking forward to sharing actionable insights with our members and providers to guide them on best practices in the market,” says Craig.  

Craig has held a number of C-level roles including his own start-up, Global VP Global Marketing and VP Digital Services in Fujitsu Tokyo HQ and CTO & Head of Marketing for APAC. He also served as Distinguished Lead Analyst for ISG and established the Provider Lens research arm in AP. As Group VP and Head of Research for Gartner AP/J and CEO of Gartner Japan he earned the first AP/J Gartner Thought Leadership award, established what is now Gartner for Marketing, and pioneered the Gartner SWOT analysis methodology.   

Shayne Arundell
VP of Advisory Partnerships
Factor

While, Shayne Arundell, a seasoned leader with a proven track record of success in the APAC region. Bringing over 15 years of Partnerships experience to Factor from FMCG, Fintech and Research and Advisory industries.

Shayne is also a Gartner alumni, previously serving as Director of Enterprise Sales, and as APAC Vice President for Intelligence Cloud at Korn Ferry, both being leading global consulting firms.  

“Factor is the newest leader in advisory, backed by fiercely local insights, from an extensive market research database you won’t see anywhere else,” Shayne explains. 

Within our expertise Factor will cover a range of topics, including, but not limited to:

  • Artificial Intelligence and Machine Learning
  • Cyber Security
  • 5G Landscape
  • Hybrid Cloud
  • Technology Profitability
  • AU Fintech
  • Digital Transformation and Enablement
  • CX, EX, UX

Both Craig and Shayne are supported by Factor’s team of experts and analysts, including Director of Insights and Value, Darren Adams, who is a highly regarded professional in the APAC data and analytics space, drawing on his experience in communications, client relations, B2B marketing, data and strategy in the technology sector.  
“People are at the heart of everything we do at Factor, and data is our key in transforming their interactions into understandings. I'm excited to share cutting-edge insights and understanding with our community, to help foster deeper, lasting and beneficial connections,” Darren says.

While Factor’s Editor-In-Chief, Madeline Palmer, an expert media professional, oversees a broad range of strategic, editorial, and managerial tasks to ensure the production and dissemination off high-quality research content. 

“Our new membership app will be one-stop shop for all technology leaders to connect and learn through events, advisory and multi-media content, and I am looking forward to being part of that journey,” says Madeline.  
The Directions™ portal on Factor’s new membership app is a cutting-edge platform, allowing users explore a repository of reports and other content, as well as create their own research visualisations with Factor’s existing database.

Factor’s CEO and founder, Josh Heid, says this new phase for the company is something he’s been working towards for quite some time.  
“After six incredible years of empowering and enabling leaders, our rebrand as Factor, coupled with the launch of our Research and Advisory arm, is about offering our members and providers with the best services and products the market can offer,” Josh explains. “I’m very proud of the team at Factor and what we have built.”   

For more information about Factor’s new Research and Advisory offerings click below. 

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Written by
Madeline Palmer
Editor in Chief
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Anand Tiwari
Industry Analyst
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Topics
Data Strategy, Data Culture, AI & ML, Data Analytics, Compliance & Governance, Cost Optimization