Because of exponential data growth and use case potential, data -- not people -- has emerged as many organizations’ most prized possession. In a recent survey of nearly 1,000 IT directors across the US, UK and Germany, 77% of respondents said that data is now their organization’s most valuable asset. Still, the same survey found that 72% of organizations are unable to generate insights through the analysis of data. Despite recognizing data’s value and role in improved business performance, many organizations remain ill-equipped to deal with the data they currently have, let alone data silos that will inevitably continue to grow.

Gaining access to as much data as possible is an admirable goal: Without people who know how to process and make that data actionable, the full potential of data will never be realized. It’s for this reason that chief data officers (CDOs) have become so vital. By managing and using available data to improve business practices across an entire organization -- from finance and HR, to product development and marketing -- CDOs offer the ability to fundamentally transform business strategies. In fact, CDOs’ ability to intrinsically understand an organization’s business and plan for its future makes them ideal candidates for future CEOs.

For those who doubt data professionals’ potential beyond solely technical tasks, consider the following five reasons why CDOs are already transforming into legitimate business leaders:

Success requires supporting CDOs’ expanded destiny

According to KPMG, organizations that have a CDO are twice as likely to have a clear digital strategy, and having a dedicated owner is essential for effective implementation of data use within an organization. What’s more, Forrester indicates that a CDO is present in 89% of organizations that have systematically harnessed data to improve their differentiation in the market and invested accordingly. Clearly CDOs are a critical component of modern business across nearly all sectors; however, the most innovative and forward-looking organizations are recognizing that the destiny of CDOs surpasses traditional role boundaries. Given all they contribute to today’s digital business landscape, CDOs have a very real opportunity to become the CEOs of tomorrow, and the onus is on organizations and their executive leadership to support them in this natural evolution.

Mathias Golombek joined Exasol in 2004 as software developer, led the database optimization team and became a member of the executive board in 2013. Although he is primarily responsible for the Exasol technology, his most important role is to build a great environment, where smart people enjoy building products.