DataEd Webinar: Implementing Successful Data Strategies - Developing Organizational Readiness and Framework
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The document discusses developing an effective data strategy. It begins by introducing Micheline Casey and Peter Aiken, experts in data strategy. It then discusses what a data strategy is, why it is important to have one, and key characteristics of an effective data strategy. The document outlines the process for developing a data strategy, including pre-planning, aligning with organizational goals, prioritizing initiatives, and performing assessments. It emphasizes the importance of implementing foundational data practices before advanced practices. The presentation concludes with discussing challenges to developing a data strategy and taking a question.
![What is a Strategy?
• Current use derived from military
• "a pattern in a stream of decisions" [Henry Mintzberg]
9Copyright 2016 by Data Blueprint Slide #](https://image.slidesharecdn.com/2016yourdatastrategydama-ncr-v05-161013225647/85/DataEd-Webinar-Implementing-Successful-Data-Strategies-Developing-Organizational-Readiness-and-Framework-9-320.jpg)
![We believe ...
Data
Assets
Financial
Assets
Real
Estate Assets
Inventory
Assets
Non-
depletable
Available for
subsequent
use
Can be
used up
Can be
used up
Non-
degrading √ √ Can degrade
over time
Can degrade
over time
Durable Non-taxed √ √
Strategic
Asset √ √ √ √
• Today, data is the most powerful, yet underutilized and poorly
managed organizational asset
• Data is your
– Sole
– Non-depletable
– Non-degrading
– Durable
– Strategic
• Asset
– Data is the new oil!
– Data is the new (s)oil!
– Data is the new bacon!
• Our mission is to unlock business value by
– Strengthening your data management capabilities
– Providing tailored solutions, and
– Building lasting partnerships
15Copyright 2016 by Data Blueprint Slide #
Asset: A resource controlled by the organization as a result of past events or transactions and from which
future economic benefits are expected to flow [Wikipedia]](https://image.slidesharecdn.com/2016yourdatastrategydama-ncr-v05-161013225647/85/DataEd-Webinar-Implementing-Successful-Data-Strategies-Developing-Organizational-Readiness-and-Framework-15-320.jpg)
DataEd Webinar: Implementing Successful Data Strategies - Developing Organizational Readiness and Framework
- 1. Micheline Casey & Peter Aiken, PhD Developing Your Data Strategy Ensuring Alignment with Business Strategy, and Making it Practical and Actionable 1
- 2. Micheline Casey • Micheline Casey is a senior executive with over 20 years experience helping organizations use data and information technology to grow and achieve strategic objectives. She is passionate about pushing boundaries with data, analytics, and tech, and applying design thinking to improve data product and service delivery. As principal at CDO, LLC, she works with a variety of organizations in multiple industries advising on the role of the chief data officer, data and analytics strategy, and organizational design considerations. • Ms. Casey was the first Chief Data Officer at the Board of Governors of the Federal Reserve System. She headed the Office of the Chief Data Officer (OCDO) and was responsible for the FRB enterprise data strategy and innovation; overseeing data governance policy development; transforming data management practices; and, integrating data architecture. Ms. Casey was the first state government Chief Data Officer in the country, and part of the Governor’s Office in the State of Colorado. Prior to her work in public service, Ms. Casey worked for several technology companies, including ChoicePoint (now LexisNexis), iXL Holdings, and IBM Global Services. • Ms. Casey has been profiled in several industry articles on the role of the chief data officer. She was named to DC’s Top 50 Women in Tech by FedScoop magazine and on the 2011 Top 25 Information Managers list by Information Management magazine. 2Copyright 2016 by Data Blueprint Slide #
- 3. • 30+ years in data management • Repeated international recognition • Founder, Data Blueprint (datablueprint.com) • Associate Professor of IS (vcu.edu) • DAMA International (dama.org) • 9 books and dozens of articles • Experienced w/ 500+ data management practices • Multi-year immersions: – US DoD (DISA/Army/Marines/DLA) – Nokia – Deutsche Bank – Wells Fargo – Walmart – … Peter Aiken, Ph.D. • DAMA International President 2009-2013 • DAMA International Achievement Award 2001 (with Dr. E. F. "Ted" Codd • DAMA International Community Award 2005 PETER AIKEN WITH JUANITA BILLINGS FOREWORD BY JOHN BOTTEGA MONETIZING DATA MANAGEMENT Unlocking the Value in Your Organization’s Most Important Asset. The Case for the Chief Data Officer Recasting the C-Suite to Leverage Your MostValuable Asset Peter Aiken and Michael Gorman 3Copyright 2016 by Data Blueprint Slide #
- 4. Copyright 2016 by Data Blueprint Slide # Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour 4 Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1
- 5. Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable 5Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1 • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A
- 6. 6Copyright 2016 by Data Blueprint Slide # IT Business Data As Is State of Data (as Perceived) |————— Project-based —————| |——— Program-based ———|
- 7. |——————————————— Program-based ——————————————| 7Copyright 2016 by Data Blueprint Slide # IT Business Data |————— Project-based —————| Desired To Be State of Data (as Understood)
- 8. Data Strategy Framework 8Copyright 2016 by Data Blueprint Slide # • Benefits & Success Criteria • Capability Targets • Solution Architecture • Organizational Development Solution • Leadership & Planning • Project Dev. & Execution • Cultural Readiness Road Map • Organization Mission • Strategy & Objectives • Organizational Structures • Performance Measures Business Needs • Organizational / Readiness • Business Processes • Data Management Practices • Data Assets • Technology Assets Current State • Business Value Targets • Capability Targets • Tactics • Data Strategy Vision Strategic Data Imperatives Business Needs Existing Capabilities ExecutionBusiness Value New Capabilities
- 9. What is a Strategy? • Current use derived from military • "a pattern in a stream of decisions" [Henry Mintzberg] 9Copyright 2016 by Data Blueprint Slide #
- 10. Former Walmart Business Strategy 10Copyright 2016 by Data Blueprint Slide # Every Day Low Price
- 11. Guiding Principle 11Copyright 2016 by Data Blueprint Slide # Strategy must be the Business and the Business must be the Strategy
- 12. Simon Sinek: How great leaders inspire action 12Copyright 2016 by Data Blueprint Slide # • “It’s not what you do, it’s why you do it” • “People don't buy what you do - they buy why you do it” http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html What How Why
- 13. Mike Tyson • “Everybody has a plan until they get punched in the face.” – http://f--f.info/?p=23071 13Copyright 2016 by Data Blueprint Slide #
- 14. Organizational Assets • Cash & other financial instruments • Real property • Inventory • Intellectual Property • Human – Knowledge – Skills – Abilities • Financial • Organizational reputation • Good will • Brand name • Data!!! 14Copyright 2016 by Data Blueprint Slide #
- 15. We believe ... Data Assets Financial Assets Real Estate Assets Inventory Assets Non- depletable Available for subsequent use Can be used up Can be used up Non- degrading √ √ Can degrade over time Can degrade over time Durable Non-taxed √ √ Strategic Asset √ √ √ √ • Today, data is the most powerful, yet underutilized and poorly managed organizational asset • Data is your – Sole – Non-depletable – Non-degrading – Durable – Strategic • Asset – Data is the new oil! – Data is the new (s)oil! – Data is the new bacon! • Our mission is to unlock business value by – Strengthening your data management capabilities – Providing tailored solutions, and – Building lasting partnerships 15Copyright 2016 by Data Blueprint Slide # Asset: A resource controlled by the organization as a result of past events or transactions and from which future economic benefits are expected to flow [Wikipedia]
- 16. Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable 16Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1 • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A
- 17. Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable 17Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1 • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A
- 18. What is a data strategy and why have one? ✤ A data strategy aligns with these priorities, goals, and objectives to scope and prioritize key data and analytics initiatives and activities. Ensures investment strategy into the right data capabilities and technologies. ✤ A data strategy is about leveraging data to create business value. ✤ Data is your competitive advantage - you need a strategy for ensuring it stays that way! ✤ “deepen the moat” ✤ change what it means for companies to compete against you
- 19. High-performing companies are more data driven ✤ Companies that put data at the center of marketing and sales decision improve marketing ROI by 15-20% (McKinsey, “Big Data, Analytics, and the Future of Marketing and Sales”, 2013) ✤ Companies that successfully use data outperform peers by up to 20% (EY, “Ready for takeoff?”, 2014) ✤ Firms that adopt data-driven decision making have output and productivity that is 5-6% higher than what would be expected given other investments and, in other performance measures such as asset utilization, ROE, and market value (MIT, “Strength in Numbers: How does DDD Affect a Firm’s Performance”, Brynjolfsson/Hitt/Kim, 2011) ✤ High performing organizations report significantly more advanced capabilities across all data capability areas (McKinsey, “The need to lead in data and analytics”, 2016): ✤ Five times likelier than their low-performing peers to have tools and expertise to work with unstructured and real-time data ✤ Twice as likely to make data accessible across the organization ✤ More diligent in measuring results Industry leaders who do more with data and analytics deliver the following value:
- 20. What are key characteristics of a good data strategy? ✤ aligns with business goals and objectives ✤ is actionable, measurable, and relevant ✤ identifies key support, resources, and constraints ✤ is a living document ✤ adds value to the organization!
- 21. Data strategy development - the process ✤ pre-planning ✤ alignment with organization strategy ✤ components and prioritization ✤ development ✤ lessons learned Gather inputs and ar.facts Conduct interviews and assessments Develop and iterate strategy Socialize final plan Finalize strategy and budget Conduct stakeholder reviews
- 22. The pre-planning process ✤ What will the data strategy development process look like and how will it be gated? ✤ Identify key stakeholders and participants ✤ Create communications plan ✤ Have an idea before you set out of when it’s ‘good enough’
- 23. Align with organizational strategic planning processes ✤ Most organizations have a formal strategic planning process and cycle - understand it, leverage it! ✤ All organizations have a budgeting process - you need it!
- 25. Key components of a data strategy ✤ Background ✤ Vision, business case, and benefits ✤ Goals, objectives, strategies, and initiatives ✤ Implementation roadmap and priorities ✤ Risks and success enablers ✤ Budgets estimates ✤ KPIs and Metrics
- 27. Prioritizing initiatives ✤ Value add to the organization based on business goals and objectives ✤ Key data capabilities or products your organization needs ✤ Look at existing projects to identify what is leverageable or creates multiplier effects ✤ Other dimensions could include: business unit- focused work; data domain work; functional work; systems work ✤ Identify key value points along the way!
- 28. Tell the story! ✤ Promote empathy - design thinking construct ✤ What are the narratives that will strike a chord with your stakeholders? ✤ What are the user personas or use cases that will get people excited? ✤ Stories reveal the hopes, dreams, and aspirations of organizations
- 29. Perform a post-mortem ✤ What worked? ✤ What didn’t work? ✤ Where can we improve next time? ✤ Gather lessons learned
- 30. Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable 30Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1 • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A
- 31. Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable 31Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1 • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A
- 32. Seven Deadly Data Sins 1. Not Understanding Data-Centric Thinking 2. Lacking Qualified Data Leadership 3. Not implementing a Robust, Programmatic Means of Developing Shared Data 4. Not Aligning The Data Program with IT Projects 5. Failing to Adequately Manage Expectations 6. Not Sequencing Data Strategy Implementation 7. Failing To Address Cultural And Change Management Challenges 32Copyright 2016 by Data Blueprint Slide #
- 33. Critical Factors • There Are No Unicorns • Changing is Hard • Compensate for the Lack of Data Competencies 33Copyright 2016 by Data Blueprint Slide #
- 34. Changing is Hard 34Copyright 2016 by Data Blueprint Slide # adapted from the Managing Complex Change model by Dr. Mary Lippitt, 1987 Culture is the biggest impediment to a shift in organizational thinking about data
- 35. The Enterprise Data Executive Takes One for the Team 35Copyright 2016 by Data Blueprint Slide #
- 36. Two Phase Approach to Data Strategy 36Copyright 2016 by Data Blueprint Slide # 1. Not Understanding Data-Centric Thinking 2. Lacking Qualified Data Leadership 3. Not implementing a Robust, Programmatic Means of Developing Shared Data 4. Not Aligning The Data Program with IT Projects 5. Failing to Adequately Manage Expectations 6. Not Sequencing Data Strategy Implementation 7. Failing To Address Cultural And Change Management Challenges
- 37. My Barn had to pass a foundation inspection • Before further construction could proceed • No IT equivalent in most organizations 37Copyright 2016 by Data Blueprint Slide #
- 38. You can accomplish Advanced Data Practices without becoming proficient in the Foundational Data Practices however this will: • Take longer • Cost more • Deliver less • Present greater risk (with thanks to Tom DeMarco) Data Management Practices Hierarchy Advanced Data Practices • MDM • Mining • Big Data • Analytics • Warehousing • SOA Foundational Data Practices Data Platform/Architecture Data Governance Data Quality Data Operations Data Management Strategy Technologies Capabilities 38Copyright 2016 by Data Blueprint Slide #
- 39. Copyright 2016 by Data Blueprint Slide # Developing Your Data Strategy: Ensuring Alignment with Business Strategy, and Making it Practical and Actionable • What is a Data Strategy? • Implementing a Data Strategy • Why is it so hard? • Q&A Copyright 2016 by Data Blueprint Slide # Data Strategy It Should Be Concise, Actionable, and Understandable by Business and IT! Peter J. Aiken • Todd Harbour 39 Peter Aiken • Todd Harbour Forward by Micheline Casey, CDO#1
- 40. Two Books 40Copyright 2016 by Data Blueprint Slide # PETER AIKEN WITH JUANITA BILLINGS FOREWORD BY JOHN BOTTEGA MONETIZING DATA MANAGEMENT Unlocking the Value in Your Organization’s Most Important Asset.
- 41. Thanks! 41
- 42. 10124 W. Broad Street, Suite C Glen Allen, Virginia 23060 804.521.4056 Copyright 2016 by Data Blueprint Slide # 42