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D A T A D R I V E
NBusiness Neil Sholay
Vice President Digital Business
Our Three Digital Beliefs Still Hold True
1.Interactions between people, places and things creates value
2.Platforms & Eco-systems are the new plane of competition
3.Data is the foundation of Digital Business
Information is replacing technology as the most critical business asset.
And so business leaders must make the data around and within their business ecosystem the centre of new planning, funding and revenue models.
New wave, New focus:
Data Has Huge Emergent Potential
It is often said that Data is the new oil, but is it really?
Data makes more dataData can be consumed by multiple people, places and things at the same timeIts value increases when combined (with other data)
And most of us don’t understand its value. 84%
of S&P 500’s market value is intangible assets
5%
of organisations know the value of their data
Less than
Source: Ocean Tomo LLC, 2015 Intangible Asset Market Value Study; The Wall Street Journal
Brand Value (1960s) vs Data Value (2020)
Coca-Cola’s brand value $58.5 Bn (+4% YoY) Revenues $21.9 BnAd Spend $4 Bn
Source : Forbes
Some are born data driven
We must move beyond HAVING data to BEING data driven
Data Is Already Driving ExperienceBeyond Digital Marketing
Characteristics of a Data Driven Business
Drive “data value” across connected ecosystemsPeople and machines in
partnershipLearns and improves -
continuouslyUses data to create new
business models
Data has economic value
Introducing the Data Driven Airport
• Improving the Passenger Experience
• Measuring foot-fall, linger time and interest
• Context aware offers and day of travel communication
Predictive Based Maintenance
Digital customer service and workforce solutions, which offer better service levels and staff experience
Reduced employee absence by 55%
Two things you do with data.
1. Do things better2. Decide things better
CAPTURE
KEEP
USE
MANAGE ACQUIRE APPLY
• This is where most business are today
• Focus is upon Big Data / Data Lakes & Single View of customer
• Lots of Capture & Keep but limited Use
• Data Driven Business is more than Big Data
CAPTURE
KEEP
USE
OWN
BUY
SHARE
MANAGE ACQUIRE APPLY
• Majority of Businesses use only Owned data
• Combining 1st party data with 3rd party data, to create new products and services and experiences
Sharing data to discover new segments
CAPTURE
KEEP
USE
OWN
BUY
SHARE
ANALYTICS
ALGORITHMS
APPS
MANAGE ACQUIRE APPLY
A Partnership of Humans & Machines
Smart People who Advise
Smart Machines that Automate
Smart Businesses that Anticipate
Where Is Your Business on This Continuum?
A business that has data
A business driven by data
A business that Anticipates
Better Outcomes
Connecting the world’s industrial assets: Digital Manufacturing
...taking in machine-grade data at scale, analyse it and act upon it to improve outcomes
Augmenting your Digital Platform With New Capabilities
Today’s leading enterprises don’t have data They are driven by dataTo get ahead of that curve, we must all:• Re-understand what our data means to
us.• Re-appraise how data can revitalise
our strategy and operations.• Model how to manage, acquire and
apply our data effectively.• And constantly improve. Because data
never ends.
Mappinga New Data Agenda