CDO PARTNERS BUILDING A DATA STRATEGY - BBD.pdf @cdopartners [email protected] cdo partners - making data work how to map the business model the business model canvas

BUILDING A DATA STRATEGYCDO PARTNERS

WWW.CDO-PARTNERS.COM @CDOPARTNERS [email protected]

CDO PARTNERS - MAKING DATA WORK

PUTTING DATA AT THE HEART OF YOUR ORGANISATION

http://www.cdo-partners.com

mailto:[email protected]



FRAMEWORKS USED BY STARTUPS



CASE FOR DATA STRATEGYBUILDING A DATA STRATEGY



JEFF IMMELT - CEO OF GE

“We want to treat analytics like it’s as core to the company over the next 20 years as material science has been over the past 50 years” McKinsey Quarterly October 2016 - Straight talk about Big Data





COMPANIES WHO ARE DATA DRIVEN

6%“Output and productivity are 5-6% higher than what would be expected” MIT Technology Review





BUT…

4%“Only 4% [of

organisations] are really good at data and

analytics” Bain Brief “The Value of Big Data”





IT ISN’T FOR LACK OF TRYING…

40%“Have state of the art tools and dedicated teams in place”

Bain Brief

“The Value of Big Data”





ONLY…

20%“Have a clear data

strategy and…high quality, consistent

data” Bain Brief

“The Value of Big Data”





DATA CAPITAL

▸ As important as financial capital

▸ Data comes from activity

▸ Data generates data

▸ Platforms tend to win

▸ Look where the data doesn’t exist





WHAT ARE THE POSSIBILITIES?



FRAMEWORKSBUILDING A DATA STRATEGY



BUSINESS INTELLIGENCE

BUSINESS GOALS DATA

PLATFORM CAPABILITY





DATA DRIVEN

BUSINESS GOALS

BUSINESS MODEL

PLATFORM CAPABILITY

DATA





HOW TO MAP THE BUSINESS MODEL

The Business Model Canvas

designed by: Strategyzer AGThe makers of Business Model Generation and Strategyzer

This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

strategyzer.com

Revenue Streams

Customer SegmentsValue PropositionsKey ActivitiesKey Partners

Cost Structure

Customer Relationships

Designed by: Date: Version:Designed for:

ChannelsKey Resources





WORKING WITH THE CANVAS





DATA AND ANALYTICS LANDSCAPE - 10 POINT FRAMEWORK

Business

Goals

Process

Applications

Capability

Users

Change and governance

Delivery and support

Platform

Architecture

Tools and technology

Infrastructure

Data

What do we use/not use?

What do we have/not have?

What processes could we/should we datafy?





WHAT ARE WE LOOKING FOR

▸ Situation

▸ Issues

▸ Implications

▸ Solutions

▸ Approach





WHAT ARE WE LOOKING FOR

▸ Situation

▸ Issues

▸ Implications

▸ Solutions

▸ Approach





UNDERSTAND YOUR BUSINESS CASES

▸ Efficiency

▸ Doing the things we do better

▸ Effectiveness

▸ Doing the right things

▸ Transformation

▸ What could we do?



THEN WHATBUILDING A DATA STRATEGY



BUILD ROADMAP

▸ Understanding of:

▸ Business model

▸ Data and analytics landscape

▸ Business cases

▸ Begin to prioritise and build a roadmap





ASK THE RIGHT QUESTIONS





BE ENTREPRENEURIAL (OR INTRAPRENEURIAL)

▸ Get creative!

▸ Look for opportunities for data capital

▸ Shake the tree a bit - doesn’t have to cost money





WORK WITH THE CANVAS

The Business Model Canvas

designed by: Strategyzer AGThe makers of Business Model Generation and Strategyzer

This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

strategyzer.com

Revenue Streams

Customer SegmentsValue PropositionsKey ActivitiesKey Partners

Cost Structure

Customer Relationships

Designed by: Date: Version:Designed for:

ChannelsKey Resources





VALIDATE ASSUMPTIONS

© 2013 Lean Startup Machine. You are free to use it and earn money with it as an entrepreneur, consultant, or executive, as long as you are not a software company (the latter need to license it from us).www.ValidationBoard.com

Validation Board

Track Pivots

1st Pivot 2nd Pivot 3rd Pivot 4th PivotStart

RiskiestAssumption

MethodCore AssumptionsAny assumption that, if invalidated, will break the business

Which Core Assumption has the highest level of uncertainty?

What is the lowest cost way to test the Riskiest Assumption?

Choose: Exploration, Pitch, or Concierge

Only put the Riskiest Assumption from an experiment in these boxes

Record data & learnings separately

If Invalidated, pivot at least one Core Hypothesis

If Validated, brainstorm and test the next Riskiest Assumption

What is the weakest outcome we will accept as validation?

MinimumSuccessCriterion

1

3

5

2

4

6

1

3

5

2

4

6

Project Name: Team Leader Name:

Customer Hypothesis

Problem Hypothesis

Solution Hypothesis

Design Experiment

Track Pivots

Tip: For two-sided markets,

always validate the riskier side first

Tip: Clear all post-its from this area after each experiment is completed

Invalidated Validated

GETOUT

OF THEBLDG

Results

Tip: Do NOT define a solution

until you’ve validated the problem

Remember:Limit one sticky-note per box

Write in ALL CAPS

Do not write more than 5 words on any sticky-note





THINK LIKE A STARTUP…





BUILD CAPABILITIES, PLATFORMS AND PROCESSES

▸ Self-service

▸ Data preparation and data storytelling

▸ Prove the value quickly

▸ Architectures and governance enabling data discovery

▸ Process for executing on insights





CULTURE (A WHOLE OTHER TOPIC)

▸ Encourage creativity

▸ Fail fast, learn, iterate

▸ Transparency

▸ Where to record what you learn?

▸ Who are your initial “tribes” and customers

▸ Sales and marketing



CONCLUSIONSBUILDING A DATA STRATEGY



CONCLUSIONS

▸ Case for having a data and analytics strategy

▸ Case for putting data at the heart of your business model

▸ How you might do that using a different perspective





RESOURCES AND CONTACTS

http://bit.ly/UKOUG16

[email protected]

@mccarthymorgan



http://bit.ly/UKOUG16



JOIN US TONIGHT FOR DATA RELATED CHAT

All Bar One Brindsley Place

8pm onwards

http://bit.ly/OBDdrinks



http://bit.ly/OBDdrinks

Documents

CDO PARTNERS BUILDING A DATA STRATEGY - BBD.pdf @cdopartners [email protected] cdo partners - making data work how to map the business model the business model canvas