VIDEO TRANSCRIPTION
Hello again. This is the second video that aims to introduce you the presentation I’ve generated about Data Analytics and Big Data, a deep enough explanation for non-technical roles. If you haven’t seen yet the first video or downloaded the first presentation, I recommend you do it before continuing.
In this second delivery I wanted to dwell on an issue I consider critical in today's society. I would like in this presentation to condense all the necessary aspects so that organizations understand how to make the most of these technologies so necessary for their existence. For this reason, I’ve titled it “Inside the organization” or how to lead a data-driven revolution in your company balancing technology, design and business.
In this valuable resource, you will find things about the data-driven concept, very important to understand the path or maturity levels must be achieved progressively. Another important issue is knowing how much data and emotions are related to decisions. Here you’ll find details to understand how much. I also talk about the analytical principles that organizations must follow and the easiest way to obtain analytical value through a simple and straightforward process. And finally, I refer to a good data-governance importance to cement all of the above. Without a good data governance policy or a good CDO, things get very complicated.
The first part of this presentation is an intense dive into the idea of data-driven organizations. The first slides scrutinize company maturity levels, one by one until reaching the culmination in which the data-science is at the center of its strategy. To do this, I have allowed myself the license to use comic strips I’ve modified myself to reinforce the message at each level based on the explanation of its vision and organizational model, culture and talent, investment and value generation, and the infrastructure. It starts with the first, the RESISTANT company. It goes through the DATA AWARE company that begins to think about the data and the DATA SAVVY company that already desperately searches for INSIGHTS. Until you reach karma, the company that allows its decisions and strategy to turn around data: the DATA DRIVEN company.
I provide you with a table to understand what level you are. In addition, I try to give a little context to the subject including some slides that show the Spanish case in terms of data-driven excellence. The data collected by a highly renowned Barcelona business school is very revealing and interesting. They’re especially interested in the main motivations and business units that pull the car in terms of being a Data-Driven company. Interesting.
In the middle part, I spend a good time to highlight the close relationship between data, emotions and decisions. To see it with more perspective I provide with different situations organization deals with every day, whether simple, complicated, complex or chaotic. Although I also provide the recipe recommended by a renowned technology consultant, I warn you about the need to also deal with fear and anger. These emotions can make the decisions made daily in the organization not fair or equitable. That’s why I show you different cognitive biases, some of them so famous, and logical fallacies you will surely recognize in your day to day.
To partially reduce this important risk, I focus some slides on analytical principles and mantras should guide your data-driven strategy. In the same way, I stop in explaining how to connect data and analytics with business value. Using the value pyramid, I explain the different steps an organization must carry out with an initial top down approach, to finally get feedback bottom up. Value generation from data evidence. That’s the real intention of these slides.
Upon reaching this point in the presentation, I ask you if it’s difficult to control and pilot these concepts may seem complex. The answer is data governance. After briefly showing risks and consequences of bad data-government, I explain the term in relation to data modeling and data quality. And, similar to data-driven maturity levels in companies, I explain for a few slides the path those companies need follow to achieve good data-governance also. Same type of jokes but differences regarding maturity levels. This is because different authors propose different models. Never mind. We use one of the most widespread models, one that can reveal the differences regarding responsibility, metadata, quality and provisioning.
Finally, we echo a current shift in the way in which data governance is carried out. The hierarchical data-governance supported by systems of record is evolving towards the network data-government supported by systems of engagement. And that’s why the CDO role becomes so important, something we explain in the last slide.
Done. This all what we would like to talk in the presentation. A good resource that you may need if you want to understand the implications of starting a decided path towards corporate excellence in Data Analytics and Big Data.
The next is a monograph on Big Data. Do not miss it.
See you
