#194 [Radar Recap] Scaling Data ROI: Driving Analytics Adoption Within Your Organization with Laura Gent Felker, Omar Khawaja and Tiffany Perkins-Munn
Apr 4, 2024
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Laura Gent Felker, GTM Analytics Lead at MongoDB, Omar Khawaja, CDAO at Givaudan, and Tiffany Perkins-Munn, Managing Director at JPMorgan Chase, dive into scaling analytics adoption. They share insights on the financial and cultural challenges organizations face in leveraging data effectively. The trio emphasizes the role of storytelling in data communication and fostering a data-driven culture. They discuss change management strategies, the importance of process and literacy, and how to overcome scaling challenges for successful analytics integration.
Data leaders play a crucial role in driving a culture change around analytics tooling within organizations.
Enhancing data capabilities requires process efficiency, data quality, skills development, and people involvement.
Balancing technical and business skills is essential for employees to effectively utilize data in decision-making.
Establishing a data culture involves aligning data practices with company values, building trust in data, and ensuring data quality and governance.
Integrating data-driven insights with human intuition is vital for effective decision-making and fostering communication among teams.
Deep dives
Return on Investment for Data Initiatives
Using data and analytics to achieve specific business goals beyond revenue growth is crucial. Metrics such as reducing costs, improving operational efficiencies, optimizing processes, and enhancing customer experience contribute to overall value. Additionally, focusing on risk management, fraud detection, compliance, and customer trust through data and analytics adds significant value.
Improving Data Capabilities
Process efficiency, data quality, skills development, and people involvement are vital for enhancing data capabilities. Identifying bottlenecks in the data supply chain, ensuring data literacy across the organization, and promoting data-driven decision-making empower teams to leverage data effectively.
Enhancing Data Skills for Non-Technical Workers
Balancing technical and business skills is essential for employees to effectively use data. Targeted data literacy programs, understanding business operations, and aligning technical knowledge with business outcomes enable teams to make informed decisions and improve organizational performance.
Cultivating a Data Culture
Establishing a data culture requires aligning data practices with company values and operations. Building trust in data, telling compelling data-driven stories, and ensuring data quality and governance contribute to a successful data culture transformation.
Leveraging Data in Public and Private Sectors
Public-private partnerships facilitate data sharing and collaboration, promoting cross-industry data initiatives. While specific organizational goals may differ, the need to measure ROI, address data challenges, and enhance decision-making remains consistent across sectors.
Scaling Analytics Capabilities
Challenges in scaling analytics capabilities include data quality, infrastructure limitations, skill gaps, integration complexities, and regulatory compliance. Identifying and addressing these bottlenecks are crucial for expanding analytics functions effectively.
Balancing Data-Driven Decision-Making with Gut Feelings
Integrating data-driven insights with human intuition is important for effective decision-making. Building trust in data, establishing data accessibility, and fostering communication among teams enable a harmonious blend of data-driven and intuition-based decision-making.
Making Data Widely Accessible while Maintaining Control
Ensuring data discoverability and accessibility while maintaining data integrity requires assigning data owners, educating stakeholders, implementing metadata strategies, and promoting consistent data governance. These strategies enable organizations to share insights effectively while controlling data narratives.
Final Advice for Data Utilization
Be the change you want to see by role modeling effective data ownership, curation, and sharing. Align data initiatives with long-term business objectives and drive tangible value through short-term wins. Focus on business goals, prioritize data-driven decision-making, and measure outcomes to drive successful data utilization.
You've just invested in licenses for your favorite analytics tool, but now what? In this session, Laura Gent Felker, GTM Analytics Lead at MongoDB, Tiffany Perkins-Munn, Managing Director & Head of Data & Analytics at JPMC and Omar Khawaja, CDAO & Global Head Data & Analytics at Givaudan will explore best practices when it comes to scaling analytics adoption within the wider organization. They will discuss how to approach change management when it comes to driving analytics adoption, the role of data leaders in driving a culture change around analytics tooling, and a lot more.
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