This week I enjoyed the honor of being chairman of the Unleash Innovation in BI, Data & Analytics Global Executive Summit in Amsterdam. The biggest value for me was learning from segment leaders across multiple industries how they create a data driven digital business.
Please check if my lessons learned for a data-first-business are helpful for you:
1. Measurable business outcomes are the most important factor to convince any CxO or employee about the value of data or AI.
Results have to be visible faster in today’s enterprises. For example at Scotch & Soda, a new data, BI or AI project needs to show impact within 6 months.
2. Technology is no longer the issue (if you have the right one) said CDO Martin Hairer from Med-El.
3. People are the next frontier for AI says Loren Roosendaal from Nyenrode Business University. Many employees are doing the wrong job and tasks as in context of learning and knowledge explosion but lack of data and smart analytics.
4. Passion is the new currency. I really like this statement as it stands for the importance of customer experience, but also as guidance to hire hungry people.
5. At DSW Health Insurance 250 of 600 employees are IT and data specialists, because they have a #Digitalfirst approach. How is that in your company?
6. You need to understand what data is relevant
Thibault LEMARIE from Scotch & Soda showed by let all attendees put post-it stickers on him with their criteria for a successful event. He proofed that it is hard to capture the relevant data for better decisions making
7. AI & ML: Everybody wants to leverage it, but struggles to find a first small scope to show success. On my table we discussed examples in context of supplier master data. (Let me know if you want go deeper). All agreed that you need to get the data foundation right.