How to Optimize Your Cost and Help Drive Efficiency

In Episode 34 of Season 3, of Driven by Data: The Podcast, Kyle Winterbottom is joined by Steve Pimblett, Chief Data Officer at The Very Group, where they discuss how to move data from a cost centre to a value creator, which includes;

• A transformation journey that has been ongoing for over a century
• Why some D&A teams are still seen as a cost centre and not a value-creating function
• Why demonstrating value creation is a primary responsibility of a Data Leader/CDO
• The tangible things that Steve has done to be seen as a value-creating function
• The 4 key pillars of their Data Strategy and measuring the capability maturity
• The value-creation measurement framework they’re using and how that helps to communicate
• Why you have to connect data and insight to action
• The importance of talking in outcomes and the benefits of those outcomes, and not data
• Why it’s imperative to have an operating model that supports value-creation
• A Joint-Venture model to prove value and take to an investment board
• How they’ve used hastags to demonstrate the value of Data & Analytics as an enabler to the business functions in those JV’s
• Why ‘data as a product’ has bridged the communication gap and acts as a client success manager
• Why PR has been critical in the success of the D&A team and how external validation has helped