Align Incentives to Business Outcomes

Welcome to a special author's episode of The Data Chief, where we delve into the minds of three influential authors who are shaping the conversation around data and AI. First, Geoff Woods, author of The AI-Driven Leader, shares his philosophy of prioritizing strategy over technology to make faster, smarter decisions. Next, Wendy Batchelder, author of The Data Governance Handbook, discusses how to transform governance from a rigid bureaucracy into a business accelerator by focusing on business outcomes. Finally, Malcolm Hawker, author of The Data Hero Playbook, challenges data leaders to adopt a heroic mindset by becoming customer-driven and aligning their incentives with business success. Join us to learn how to lead effectively in the AI era by building a strategy-driven, governed, and customer-centric data function.

The Data Chief Podcast: Author Episode Key Moments

Geoff Woods: The AI-Driven Leader

• From "IT Problem" to Strategic Partner (06:20): Woods advocates for viewing AI as a "strategic thought partner" rather than an assistant or replacement, and emphasizes that AI strategy must align with business strategy.
• The CRIT Framework for Smarter Prompts (12:25): He introduces the CRIT framework for prompt engineering: Context, Role, Interview, Task. This method helps leaders get non-obvious, high-impact strategies from AI by having the AI ask the right questions.
• Beyond the Bottom Line: AI's Human Impact (22:17): Woods discusses the ROI of AI, including a case where AI identified savings equivalent to 2% of a company's revenue. 

Wendy Batchelder: The Data Governance Handbook

• Data Governance as an Accelerator (32:33): Wendy Batchelder addresses the myth that data governance is a "dirty word" or a code for "no," arguing that its true purpose is to be an accelerator.
• Speaking the Language of Business (35:17): Batchelder emphasizes that data governance should be embedded from the start of a project, not as an afterthought. She provides an example of "bad" vs. "good" communication, urging data professionals to speak the language of the business.
• Measuring Value with Business Outcomes (40:00): She outlines how to measure the value of data governance by connecting it to business outcomes like increased revenue or improved customer service. 

Malcolm Hawker: The Data Hero Playbook

• From Limiting Mindset to Growth Mindset (56:00): Hawker discusses why he wrote the book, calling the current moment a "do or die" opportunity for CDOs. He challenges the "limiting mindset" that leads to defeatism.
• Customer-Driven, Not Data-Driven (1:08:00): He urges data leaders to be "customer-driven, not data-driven," emphasizing the need for data teams to become more business literate.
• The Power of Product Management (1:14:00): Hawker advocates for bringing product management disciplines into data teams. This approach focuses on putting the customer at the center and ensures that data products are economically viable and tied to ROI.

Key Quotes:

• "It is not technology first, strategy second. It is strategy first, technology second.” - Geoff Woods
• "The companies that are treating data as something that helps drive business outcomes are thinking about data at the beginning and set up at the end." - Wendy Batchelder
• “If you deliver value to your customers, if you are the lever of change and transformation in your organization, if you show value from data, you will get a seat at the table." - Malcolm Hawker

Mentions

• The AI-Driven Leader: Harnessing AI to Make Faster, Smarter
• How AI is transforming strategy development
• Data Governance Handbook: A practical approach to building trust in data
• 5 key reasons why data analytics is important to business
• The Data Hero Playbook: Developing Your Data Leadership Superpowers
• CDOs and CDAOs: Rethink your role or fade away

Guest Bios:

About Geoff Woods 

Geoff Woods is the #1 bestselling author of The AI-Driven Leader, host of the AI-Driven Leader podcast, and Founder of AI Leadership and The AI-Driven Leadership Collective™, a highly vetted network of executives collaborating to harness AI to build better businesses and better lives. As the former Chief Growth Officer of Jindal Steel & Power, Geoff's strategic leadership helped the company grow its market cap from $750 million to over $12 billion in just four years. Prior to that, he co-founded the training and consulting company behind The ONE Thing, advising businesses ranging from $10 million to $60 billion in annual revenue.

About Wendy Batchelder 

Wendy Batchelder is a three-time Chief Data Officer across financial services, technology & healthcare industries, with a wide understanding of how to take highly technical aspects of data management and translate them into simple, concise business valued solutions that are practical and simple to understand. Her background has led her to lead global data & analytics organizations at four Fortune 500 companies. She approaches situations with curiosity and humility, which has led to applying innovative data solutions to challenges with increased complexity to deliver value that companies can measure.

A lifelong learner, Wendy graduated from Miami University with a B.S. in Accounting and Information Systems, from Drake University with a Masters of Accountancy, from University of Iowa with an Executive MBA, and pursues ongoing education through Harvard Business School. Her work history includes EY, KPMG, Aviva, Wells Fargo, VMware and Salesforce.

About Malcolm Hawker

Malcolm helps senior business leaders harness the power of data to transform their businesses. As a former Gartner analyst, he has consulted with some of the world's largest and best-known brands on their enterprise information management strategies and digital transformation initiatives.

He is a frequent public speaker on data and analytics best practices with a passion for Master Data Management (MDM) and Data Governance. He welcomes the opportunity to share practical and actionable insights on how companies can become truly data-driven by implementing the cultural, technical, and organizational changes needed for success in the digital age. He is also the author of The Data Hero Playbook

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