Each year, Evanta conducts a proprietary survey among the thousands of members of our C-level communities around the world. Executives from the world’s leading organizations share their top priorities, challenges and investment plans for the year ahead, enabling us to highlight trends and develop timely and relevant content based on the feedback of members.
In our 2024 Leadership Perspective Survey, CDAOs across Evanta’s 13 communities are in the midst of the whirlwind of AI and generative AI and the possibilities that may be realized from this transformational technology. Data leaders are moving quickly to determine how to maximize AI tools while providing data governance and security. At the same time, CDAOs are focused on improving the organization’s ability to make data-driven decisions and driving growth and value through data.
More than 400 Chief Data & Analytics Officers have shared their key priorities and spending plans in our annual survey – here’s what they are reporting.
Operating Budgets Remain Steady
Fifty-two percent of CDAOs say that their operating budgets remained the same year over year, and 28% reported an increase in their budgets. While there may be some lingering economic challenges, only 20% of data leaders say their budget decreased from last year.
Planned Spending to Increase or Stay the Same
Similar to their budgets, CDAOs say that their planned investments in technology and services will remain the same (53%) or increase (26%) in 2024. Only 21% report that their planned spending will decrease this year.
Investing in AI & Data Governance
Fifty-four percent of CDAOs plan to spend on Artificial Intelligence tools and solutions this year – even more than in 2023, when 48% of data executives reported plans to spend on AI. The next highest spending areas for CDAOs are data governance (53%) and data quality (40%).
AI Takes the Top Spot for Priorities
CDAOs report that this year their top functional priority is generative and traditional AI – a new addition to the survey in 2024. Data and analytics strategy and governance – which are most likely integral to their AI strategies – continue to be important for data leaders.
Topics of Interest
In addition to their top areas of focus, CDAOs share what they most want to discuss with peers and solution providers at Evanta events. These are the trending topics for CDAOs in 2024:
- Data as a Product/Service
- D&A Leadership & Influence
- CDAO Role Evolution
- Measuring Business Outcomes/Performance
- Innovating for the Future
To learn more about sponsoring Evanta C-level communities and events – and how our proprietary insights can help you connect with C-level leaders – contact us.
Based on 400+ CDAO responses from Evanta’s proprietary Leadership Perspective Survey, March 2024.
by CDAOs, for CDAOs
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