Название: Value-Driven dаta: Identifying, Communicating and Delivering Effective Business Solutions with Data
Автор: Edosa Odaro
Издательство: Kogan Page
Год: 2023
Страниц: 257
Язык: английский
Формат: pdf (true), epub
Размер: 14.0 MB

Value-Driven Data explains how data and business leaders can co-create and deploy data-driven solutions for their organizations.

Value-Driven Data explores how organizations can understand their problems and come up with better solutions, aligning data storytelling with business needs. The book reviews the main challenges that plague most data-to-business interactions and offers actionable strategies for effective data value implementation, including methods for tackling obstacles and incentivizing change.

Value-Driven Data is supported by tried-and-tested frameworks that can be applied to different contexts and organizations. It features cutting-edge examples relating to digital transformation, data strategy, resolving conflicts of interests, building a data P&L and AI value prediction methodology. Recognizing different types of data value, this book presents tangible methodologies for identifying, capturing, communicating, measuring and deploying data-enabled opportunities. This is essential reading for data specialists, business stakeholders and leaders involved in capturing and executing data value opportunities for organizations and for informing data value strategies.

But what is data value? And why is it so important? Put simply, I refer to data value as the potential for data to create economic opportunities, drive beneficial actions and improve our life outcomes in countless ways. With the help of advanced technology like Artificial Intelligence (AI) and Machine Learning, we can now process vast amounts of data to enable us to uncover hidden patterns, predict plausible possibilities and make better decisions than ever before.

The challenge of understanding data value is not new. In efforts to implement AI and other advanced data capabilities, this is often the most prominent obstacle between such value and the vision it is supposed to enable. Attempts to solve this challenge are not new either; a plethora of books and other material trying to realize this significant potential already exist. Yet they seem to have one thing in common – they sit at the extremes: being either very technical (such as attempting to device a mathematical formula for individual data fields in an Excel sheet) or very vague (such as speaking in broad terms about data being the new oil, the new gold or even the new oxygen).

A data warehouse is a database or infrastructure solution which enables the consolidation and storage of historical data ready for decision-making. A data cube is a technology solution for consolidating data items and organizing them into flexibility- and performance-enhancing multi-dimensional arrays for ease of analysis. A cube data warehouse implements and stores a data cube within a data warehouse.

“Value Driven Data cuts through the rumours and hearsay with real-life, no-nonsense examples of creating a data vision and value in practice. This is a comprehensive guide for both data professionals and business leaders. Once you have read it you won’t want to do research without it.” - Graeme McDermott, Chief Data Officer, Tempcover