The Importance of Financial Discipline in Data Strategy

In Episode 31 of Season 3, of Driven by Data: The Podcast, Kyle Winterbottom is joined by Taylor Culver, Founder of XenoData, where they discuss how Data Leaders can deliverable measurable value from their data strategy, which includes;

• Why ROI is a 'nice to have' for company executives, not a priority
• Innovation is what company execs and shareholders care about the most
• Finance leaders don’t measure impact on ROI, but IRR
• Organisations will happily spend on capex but not an opex, and what that means for Data Leaders
• Why culture and literacy aren’t the magic bullet, but good leadership is
• Data isn’t an asset, and if it was, why it wouldn’t be a good asset to have
• Why Data Leaders need to focus on adding the enterprise value of a firm
• If you’re being held accountable for ROI as a Data Leader then you’re already on the way out!
• Why Data Leaders already have everything they need to be successful
• The relationship between “value” and “ROI”
• Why innovation is what company execs and shareholders care about the most
• Why intangible value is far greater than the ROI you’ll generate
• Why finance leaders don’t measure impact on ROI, but IRR
• How data leaders can quantify their impact
• The importance of language
• Calculating the financial impact of data initiatives
• The differences between quantifying tangible and intangible benefits
• How ROI merely makes you more credible as a Data Leader
• Why organisations keep investing capital into data initiatives