Who owns big data at your firm?
While most agree that big data will impact the future of business – for everyone from leading Wall Street law firms, to global banks, to large healthcare organizations – and almost as many are excited about its prospects, it’s clear that some imperatives still need to be ironed out.
A recent Wall Street Journal article highlights one recurring argument: who should be the owner of big data within an organization? IT? Legal? Compliance? BD/Marketing? Although there’s no clear-cut answer, it seems “the CIO is best positioned to bring together all departments and to best understand what data is being collected and how it flows throughout the organization.”
This brings to mind an important point: how valuable is data if it isn’t contextualized and disseminated in an integrated manner, reaching all silos of the organization and working towards larger business goals? As Law.com’s Jayne Navarre points out, having a data analyst on board, whether in-house or on contract, can be an efficient way to develop a big picture strategic plan. However, this could be easier said than done, as finding qualified talent with the technical capabilities to handle large datasets remains a challenge for many.