Data is powerful. It is used by organizations to make better business decisions, streamline operations and reduce overall operating costs. Many of today’s Fortune 1000 companies transformed their business by embarking on a digital journey that aligned data as their most valuable asset.
Of course, things that are valuable need to be protected. Data has the power to be transformative because it often contains sensitive information that could bring harm to the individuals it concerns.
Chief privacy officers face new regulatory requirements for protecting and reporting on that sensitive data, which has created an urgent need for companies to better manage their data assets in the first place. Previously unregulated organizations are enhancing their data governance programs to address this need. As part of that effort, it’s necessary for CPOs and chief data officers to collaborate more efficiently to manage, protect and report on their organizations’ data.