Notes about Cutting-Edge Technologies and Everything

    Central to treating data as an asset, data monetization should align with familiar research and development (R&D) and product management/marketing approaches. Not to oversimplify the many challenges and activities involved in monetizing data, certain basic concepts will reap significant rewards if executed well.  Evolve from Data Project Management to Data Product Management Although you may already have a data leader such as a chief data officer (CDO), or an analytics leader, the first step toward data monetization is to designate a team tasked with identifying and pursuing opportunities for and generating demonstrable economic benefits from available data assets. They may report to a data and analytics executive, into the enterprise architecture group, a chief digital officer, or perhaps even a business unit head.  Creating a distinct, dedicated data product management role is vital especially when business and data leaders agree on pursu...

Data has emerged as an imperative foundational asset for all organizations. Data fuels significant initiatives such as digital transformation and the adoption of analytics, machine learning, and AI. Organizations that are able to tame, manage, and unlock their data assets stand to benefit in myriad ways, including improvements to decision-making and operational efficiency, better fraud prediction and prevention, better risk management and control, and more. In addition, data products and services can often lead to new or additional revenue. As companies increasingly depend on data to power essential products and services, they are investing in tools and processes to manage essential operations and services. In this post, we describe these tools as well as the community of practitioners using them. One sign of the growing maturity of these tools and practices is that a community of engineers and developers are beginning to coalesce around the term “DataOps” (data operations). Our conver...