cdo partners building a data strategy - bbd.pdf @cdopartners [email protected] cdo partners -...
TRANSCRIPT
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
PUTTING DATA AT THE HEART OF YOUR ORGANISATION
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
FRAMEWORKS USED BY STARTUPS
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
JEFF IMMELT - CEO OF GE
“We want to treat analytics like it’s as core to the company over the next 20 years as material science has been over the past 50 years” McKinsey Quarterly October 2016 - Straight talk about Big Data
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
COMPANIES WHO ARE DATA DRIVEN
6%“Output and productivity are 5-6% higher than what would be expected” MIT Technology Review
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
BUT…
4%“Only 4% [of
organisations] are really good at data and
analytics” Bain Brief “The Value of Big Data”
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
IT ISN’T FOR LACK OF TRYING…
40%“Have state of the art tools and dedicated teams in place”
Bain Brief
“The Value of Big Data”
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
ONLY…
20%“Have a clear data
strategy and…high quality, consistent
data” Bain Brief
“The Value of Big Data”
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
DATA CAPITAL
▸ As important as financial capital
▸ Data comes from activity
▸ Data generates data
▸ Platforms tend to win
▸ Look where the data doesn’t exist
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
WHAT ARE THE POSSIBILITIES?
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
BUSINESS INTELLIGENCE
BUSINESS GOALS DATA
PLATFORM CAPABILITY
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
DATA DRIVEN
BUSINESS GOALS
BUSINESS MODEL
PLATFORM CAPABILITY
DATA
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
HOW TO MAP THE BUSINESS MODEL
The Business Model Canvas
designed by: Strategyzer AGThe makers of Business Model Generation and Strategyzer
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
strategyzer.com
Revenue Streams
Customer SegmentsValue PropositionsKey ActivitiesKey Partners
Cost Structure
Customer Relationships
Designed by: Date: Version:Designed for:
ChannelsKey Resources
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
WORKING WITH THE CANVAS
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
DATA AND ANALYTICS LANDSCAPE - 10 POINT FRAMEWORK
Business
Goals
Process
Applications
Capability
Users
Change and governance
Delivery and support
Platform
Architecture
Tools and technology
Infrastructure
Data
What do we use/not use?
What do we have/not have?
What processes could we/should we datafy?
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
WHAT ARE WE LOOKING FOR
▸ Situation
▸ Issues
▸ Implications
▸ Solutions
▸ Approach
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
WHAT ARE WE LOOKING FOR
▸ Situation
▸ Issues
▸ Implications
▸ Solutions
▸ Approach
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
UNDERSTAND YOUR BUSINESS CASES
▸ Efficiency
▸ Doing the things we do better
▸ Effectiveness
▸ Doing the right things
▸ Transformation
▸ What could we do?
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
BUILD ROADMAP
▸ Understanding of:
▸ Business model
▸ Data and analytics landscape
▸ Business cases
▸ Begin to prioritise and build a roadmap
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
ASK THE RIGHT QUESTIONS
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
BE ENTREPRENEURIAL (OR INTRAPRENEURIAL)
▸ Get creative!
▸ Look for opportunities for data capital
▸ Shake the tree a bit - doesn’t have to cost money
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
WORK WITH THE CANVAS
The Business Model Canvas
designed by: Strategyzer AGThe makers of Business Model Generation and Strategyzer
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
strategyzer.com
Revenue Streams
Customer SegmentsValue PropositionsKey ActivitiesKey Partners
Cost Structure
Customer Relationships
Designed by: Date: Version:Designed for:
ChannelsKey Resources
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
VALIDATE ASSUMPTIONS
© 2013 Lean Startup Machine. You are free to use it and earn money with it as an entrepreneur, consultant, or executive, as long as you are not a software company (the latter need to license it from us).www.ValidationBoard.com
Validation Board
Track Pivots
1st Pivot 2nd Pivot 3rd Pivot 4th PivotStart
RiskiestAssumption
MethodCore AssumptionsAny assumption that, if invalidated, will break the business
Which Core Assumption has the highest level of uncertainty?
What is the lowest cost way to test the Riskiest Assumption?
Choose: Exploration, Pitch, or Concierge
Only put the Riskiest Assumption from an experiment in these boxes
Record data & learnings separately
If Invalidated, pivot at least one Core Hypothesis
If Validated, brainstorm and test the next Riskiest Assumption
What is the weakest outcome we will accept as validation?
MinimumSuccessCriterion
1
3
5
2
4
6
1
3
5
2
4
6
Project Name: Team Leader Name:
Customer Hypothesis
Problem Hypothesis
Solution Hypothesis
Design Experiment
Track Pivots
Tip: For two-sided markets,
always validate the riskier side first
Tip: Clear all post-its from this area after each experiment is completed
Invalidated Validated
GETOUT
OF THEBLDG
Results
Tip: Do NOT define a solution
until you’ve validated the problem
Remember:Limit one sticky-note per box
Write in ALL CAPS
Do not write more than 5 words on any sticky-note
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
THINK LIKE A STARTUP…
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
BUILD CAPABILITIES, PLATFORMS AND PROCESSES
▸ Self-service
▸ Data preparation and data storytelling
▸ Prove the value quickly
▸ Architectures and governance enabling data discovery
▸ Process for executing on insights
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
CULTURE (A WHOLE OTHER TOPIC)
▸ Encourage creativity
▸ Fail fast, learn, iterate
▸ Transparency
▸ Where to record what you learn?
▸ Who are your initial “tribes” and customers
▸ Sales and marketing
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
CONCLUSIONS
▸ Case for having a data and analytics strategy
▸ Case for putting data at the heart of your business model
▸ How you might do that using a different perspective
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
RESOURCES AND CONTACTS
http://bit.ly/UKOUG16
@mccarthymorgan
WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]
CDO PARTNERS - MAKING DATA WORK
JOIN US TONIGHT FOR DATA RELATED CHAT
All Bar One Brindsley Place
8pm onwards
http://bit.ly/OBDdrinks