By prioritising value creation, data leaders can drive successful, data-driven initiatives more effectively. Practically, this means identifying key stakeholders and working closely with them to connect stakeholders' mission-critical priorities to D&A initiatives, detailing financial and nonfinancial stakeholder outcomes and impacts to get a complete value story. The aim and ambition must be to create a "value story". The demand for oil surged when Henry Ford fulfilled his promise to create an affordable car, which prompted the construction of more pipelines.ĭata leaders must intentionally shift their attention from data and technology to value creation. There is no chicken-and-egg dilemma here the engine came first. To borrow the metaphor "data is the new oil," companies did not begin investing billions in drilling wells, constructing pipelines, building tankers, and commissioning storage facilities before the internal combustion engine was invented. ![]() The traditional approach of starting with data and technology doesn't work. ![]() CDOs or data leaders who aim to demonstrate value early on, without the time, expense, and risk of failure, must reconsider their initial focus. It is no coincidence that 18 months is the average duration of a warehouse project addressing quality, governance, and data management. Shortly after their appointment, the excitement around the transformation that they promise begins to dwindle, and the honeymoon often ends abruptly around the 18-month mark. ![]() They are now described as one of the most unstable c-suite positions with an average tenure of about two years – hardly enough time to get their feet under the table. Brought in specifically to generate value from data.
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