Data economy: what is it and why is the CDO the key?

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Discover the opportunities that the data economy brings and why the role of the CDO is key in all of this.

Chief Data Officers: How to Increase Business Impact?

The amount of data generated by people as consumers of products and services and by companies is now overwhelming and is expected to grow at an ever-increasing rate. Having a strategy to organize information is key to promoting profitable processes and innovation within companies.

Companies are aware of the power of data to drive transformation and the positive impact on their business results, to the point that the role of data director is increasingly key within organizations. What is this function and what is its relationship with the data economy?

HubSpot BLOG

In 2020, fueled by the COVID-19 pandemic, the total instagram database of data created, captured, copied and consumed worldwide reached 64.2 zettabytes . By 2025, global data creation is expected to increase to over 180 zettabytes .

Source: Statista



What is the data economy and how does it work?
The data economy represents the global supply and demand of data that is generated instantly through applications and all kinds of services used. Companies that can be described as “data economy leaders” are those that have managed to dynamically adjust their decisions based on the information available in real time.

In this global digital ecosystem, a network of providers collects, organizes and exchanges data in order to obtain value from the accumulated information. The data is obtained from search engines, social networks, suppliers and companies that implement devices connected to the Internet of Things (IoT). This collected data is stored in data centers on their own servers or in the cloud and will be accessible by different users through their devices.