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CDO Webinar: 2017 Trends in Data Strategy

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December is traditionally a time to start to look into next year. Trends are derived, and lessons learned applied. Join Kelle and John while we ask several of our peers and CDOs to look ahead at what might be new, and look back at what has worked and not worked. We will make our own predictions and offer up some advice on how to prepare yourself for maximum agility.

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CDO Webinar: 2017 Trends in Data Strategy

  1. 1. The First Step in Information Management www.firstsanfranciscopartners.com Produced by: Monthly CDO Webinar Series Brought to you in partnership with: #CDOVision December 1, 2016 Sponsored by: Data Strategy 2017 Trends in
  2. 2. Sponsored by: Joining John and Kelle today ... Micheline Casey of CDO, LLC Data and Analytics Strategy Consultant pg 2© 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  3. 3. Sponsored by: Agenda ▪ 2017 trends we’ll cover − Data Management − Data Strategy, CDOs and Top Data Jobs − Data Monetization − Compliance − Predictive Analytics − Big Data ▪ An announcement ▪ Q&A pg 3© 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  4. 4. Sponsored by: ▪ Data Quality – Long overdue for evolution. Look for metadata needs to evolve to tag data with quality certificate. Automation of manual policy, bypass hand-built certification and “trusted source” identification. ▪ Artificial Intelligence and Machine Learning – Will be deployed to generate intelligent profiling and rules and, therefore, alert stewards or “close the loop” and recommend specific remediation actions. ▪ Data Governance – Applied DG will expand as stand-alone programs looking for a cause will give way to DG tied to programs like MDM and predictive analytics. Governance will be tied to business initiatives, e.g., customer experience, not just data initiatives. ▪ Master Data Management – MDM market is shifting and maturing. Reference Data Management is becoming recognized as a mainstream domain. ▪ Metadata – It’s changing. Beside tagging and tokenization, it will need to easily support lineage and data purpose registration. pg 4© 2016 First San Francisco Partners www.firstsanfranciscopartners.com Data Management TREND #CDOVision
  5. 5. Sponsored by: Data Management − Consider data quality needs for your future (not just present) and plan accordingly − Applied DG needs application with the same priority as embedded PM, DQ or data lakes get − As DG becomes “business as usual,” you will need to adapt traditional organizational models, compensation and accountabilities − Consider mastering your data as a process, not just a technology − Permitted usage should be explicitly planned and managed − Structure data in ways easy to appropriately consume data − Know the purpose of the data and register that purpose; i.e., data purpose registration is another kind of metadata − Technical solutions are changing, but business and governance requirements are not pg 5 TAKEAWAYS © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  6. 6. Sponsored by: ▪ Gartner Group prediction that 30% of CDOs will become CEOs may be optimistic, but its message of growing relevance of the CDO is very significant ▪ FSFP - There will be CDO shakeout and many companies will churn their CDOs − 50% voluntary, 50% not ▪ TDJ (Top Data Job) will grow, even if titles are not “CDO” (e.g., “SVP Data Strategy” or “SVP Data Products”), as companies monetize data and get more serious about data asset management ▪ A smart Data Manager/CDO will combine all specific data effort into a data strategy ▪ The Data Supply Chain will be more recognized as a larger part of a data strategy © 2016 First San Francisco Partners www.firstsanfranciscopartners.com pg 6 Data Strategy, CDOs & Top Data Jobs TREND #CDOVision
  7. 7. Sponsored by: − The development of a “Data Strategy” should be viewed as just the data requirements (people, process, technology and data) of the overall corporate strategy. − If you are a CDO, you had better have a data strategy in your hand as you walk around. − If you are a CDO, make sure expectations are realistic. − If want to be a CDO, look into an MBA. − It isn't the title, it is the role. © 2016 First San Francisco Partners www.firstsanfranciscopartners.com pg 7 Data Strategy, CDOs and Top Data Jobs TAKEAWAYS #CDOVision
  8. 8. Sponsored by: ▪ Definition: Creating new products with data or selling data. Many who are claiming data monetization are actually trying to reduce expenses with data ▪ CEOs want to do it and many orgs. are trying to, but abilities are limited ▪ Monetization comes in two forms: internal and external − Internal: leveraging data to go beyond what you’re currently doing; improve product/service revenue stream, new product/feature/service development, better customer engagement and segmentation − External: creating and selling data products to meet the increasing demand for interesting data sets to better understand customers, businesses, patterns, macroeconomic conditions, etc. pg 8© 2016 First San Francisco Partners www.firstsanfranciscopartners.com Data Monetization TREND #CDOVision
  9. 9. Sponsored by: Data Monetization − Understand your data and how it could be valuable ▪including quality issues, limitations and biases − Apply product management, design thinking and agile development techniques to data − Be creative, think outside the box and set up new innovation paradigms to pull in ideas − Be aware of security, privacy and legal considerations pg 9 TAKEAWAYS © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  10. 10. Sponsored by: Compliance ▪ 2017 is the year of action for compliance-driven Data Management (DM) and Data Governance (DG) − The General Data Protection Regulation (GDPR) is a European Commission regulation that intends to strengthen and unify data protection for individuals within the European Union (EU). It also addresses export of personal data outside the EU − Dodd Frank and other rules may see changes as well § Organizations (governments) are opening their data pg 10© 2016 First San Francisco Partners www.firstsanfranciscopartners.com TREND #CDOVision
  11. 11. Sponsored by: Compliance − Read up on GDPR, if you’re not familiar with it § Suggested resource: whitecase.com’s Unlocking the EU General Data Protection Regulation − Plan and budget for GDPR if you have any clients in Europe or hold data on any EU citizens − Incorporate the consideration of GDPR into DM/DG plans pg 11 TAKEAWAYS © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  12. 12. Sponsored by: ▪ The hype is real, and predictive analytics is going to remain ▪ While still a hot hire, data scientists are in for a reset ▪ Data Science is a new role, and many organizations will start to push back on these activities as they look for the additional value beyond what has already been seen pg 12 Predictive Analytics TREND © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  13. 13. Sponsored by: Predictive Analytics − Don’t overpay for the “hype” − Leverage other successful innovation approaches to manage accordingly pg 13 TAKEAWAYS © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  14. 14. Sponsored by: ▪ Here to stay, but remember it is a response to a problem ▪ Internet of Things will drive more Big Data activity, and huge data volumes will need to be on the CDO’s agenda ▪ Constant stream of new uses will ensure need to handle enormous data stores and deal with the technology ramifications pg 14 Big Data TREND © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  15. 15. Sponsored by: Big Data − Capture the right data, not all the data: it’s what you’re able to do with the data that matters − Linking Big Data with an organization’s Small Data (i.e., master data) will provide the maximum value − Still need a data strategy − Is an IoT architect a necessary hire? pg 15 TAKEAWAYS © 2016 First San Francisco Partners www.firstsanfranciscopartners.com #CDOVision
  16. 16. Sponsored by: New Webinar Series in 2017 ▪ CDO Vision series comes to a close ▪ New series’ focus: − Data Insights and Analytics Frameworks − Data Lake vs. Data Warehouse − Descriptive, Prescriptive and Predictive Analytics − Interview with a Chief Data Scientist − Data-Centric Development − And more! ▪ Look for more info from DATAVERSITY about the new series, which kicks off January 5 (and the first Thursday of each month) pg 16© 2016 First San Francisco Partners www.firstsanfranciscopartners.com
  17. 17. Sponsored by: Questions? pg 17 ?
  18. 18. pg 18 Happy holidays … and we’ll see you in 2017! © 2016 First San Francisco Partners www.firstsanfranciscopartners.com Thank you! John Ladley Kelle O’Neal Micheline Casey

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