agile data strategy and lean execution
DESCRIPTION
Why there are so many problems with streamlining data strategy ? What are the major problems ? How do you solve them ? Using an approach based on Agile and Lean Concepts to achieve the goal of actionable data & analyticsTRANSCRIPT
Agile Data Strategy and Lean Execution
Mario Faria
[email protected] @mariofaria
http://www.cdo-inc.com/
Aug 22nd 2014
Agile data strategy and lean execution
August 22, 2014
Moderator: Mario Faria Chief Data Officer, CDO Inc. [email protected] Antanina Kapchonava Project Director, Data Driven Business [email protected]
Participants
Vik Manchanda Chief Information Officer
Mario Faria Chief Data Officer
Mike Jennings Senior Director
Enterprise Data Architecture
mario.faria@cdo-‐‑inc.com @mariofaria
h0p://www.cdo-‐‑inc.com
• One of the first Chief Data Officers in the world leading teams focused in Analytics, Data Monetization, Data Quality, Data Governance, Operations and Business Architecture
• Currently he is the head of CDO, Inc., advising
companies on how to cross the “data & analytics chasm”
• Worked as a CDO for ServiceSource and Boa
Vista (Equifax) • Worked for IBM, Accenture and Microsoft,
leading projects related to BI, DW, CRM, Supply Chain, Web Development and Management Consulting
• His motto is : "If you do not treat people, technology and data as economic assets, they will become liabilities“
Mario Faria Chief Data Officer
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How to transform data assets into competitive insights, that will drive business decisions and actions, using people,
processes and technologies ?
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On data and analytics
• Many problems with streamlining a data strategy • Major concerns with data management • How you can overcome the issues • What we have learned from the data journey
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The Manifesto for Agile Software Development
• Individuals and interactions over processes and tools
• Working software over comprehensive documentation
• Customer collaboration over contract negotiation
• Responding to change over following a plan
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Source : Leading Strategic Initiatives (www.leadingstrategicinitiatives.com)
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Data, Information, Analytics, Business Intelligence and Performance Management
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The Data Value Chain
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The Deming Model : Production Viewed as a System
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Toyota Production System
Implementing Data Management
Best Practices based on the Lean Principles that came from the
Toyota Manufacturing Process
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Chief Data Officer (focused on data
management)
Chief Digital Officer (focused on digital
transformation)
Chief Analytics Officer (focused on decision
management initiatives)
The ultimate leader who creates and executes digital, data and analytics strategies
to drive business value Copyright: Mario Faria 2014
The Chief Data / Analytics / Digital Officer roles
How did some
organiza/ons change to a data driven culture ?
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Executive Support
How AIG and Walgreens implemented some of these changes
Michael Jennings : Bio
©2014 Walgreen Co. All rights reserved. Confidential and proprietary information. All rights reserved.
Enterprise Data Strategy Brief 22 August 2014 Mike Jennings
Walgreens Company Overview
Data Opportunities Challenges to Fully Leveraging Data
Defining Enterprise Data Strategy
Why do we need this strategy? Enterprise Data Strategy will help:
Data Strategy Depends on Enterprise Data Management
Data Strategy Depends on Data Governance & Stewardship
Data Strategy Depends on Master Data & Reference Data
Data Strategy Depends on Data Quality
Data Strategy Depends on Enterprise Data Models & Data Integration
Data Strategy Depends on Leveraging Industry & National Standards
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RUTGERS UNIVERSITY, NJ B.A. – Computer Science
COLUMBIA UNIVERSITY, NY
CTA Diploma
UCLA, CA Executive IT & Business Integration
Coaching
Vik Manchanda Chief Information Officer
Affiliations: • SIPA • TiE • No Kid Goes Hungry • American Cancer Society
AIG Life and A&H Houston, 2012 – Present Senior Vice President, Chief Information Officer AIG Advisor Group Houston, 2009 – 2010 Sr. Consultant ACE Group, LTD. Houston, 2008 – 2009 Executive Vice President, Chief Architect & Data Officer AIG Global Services New York, 2005 – 2008 Vice President, Chief Strategy & Administration Officer AAIG Retirement Services Los Angeles, 2001 – 2005 Vice President, Senior Information Officer AIG Domestic Brokerage Group New York & INDIA, 1996 – 2001 Assistant Vice President, Information Services Group Bear Stearns, Inc.; New York, 1989 – 1996 Lehman Brothers; Citi Group; Suburban Propane; AT&T
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• Get Facts @ the right time and the right place."
• Use Facts everytime making crucial business decisions."
• Preserve Facts."
Winning with Data!
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Big Data Practice
Our approach reverse that ratio offering maximum business value in Revenue generation, Operational efficiency and Compliance
Business Intelligence
Data Mining
OAP
BPR Benchmarking
Data Warehousing
Analytics
Reporting
Traditionally 75% of effort spent in data aggregation and transformation yields 25% in benefits
Big Data
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Three Good Winning Examples:
ü At AIG, we use data gathered from physical exam and blood results and pass them through a model jointly created along with John Hopkins University to predict mortality rates and based upon that we underwrite insured, resulting in significant reduction in claims & increase in net profits.
ü At Ace, we created a model to apply to the insured to predict their risk level and accordingly either underwrote them with appropriate rate class or denied coverage. Same model was used to detect fraudulent claims.
ü At AIG, we are using a combination of mobile and data strategy to converge distribution channels such that each agent is able to offer multiple lines of businesses to the customers, as opposed to traditionally just creating leads for the other lines of business. Further we are creating incentives for cross-selling and upselling that are visibly working.
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• Link Compensation to Targets"
• Create Commission Transparency"
• Allow Margin Control at Point of Sale"
• Stricter Compliance and Governance"
• Yield Higher Revenues""
Incent The Right Behavior
Debate
Participants
Vik Manchanda Chief Information Officer
Mario Faria Chief Data Officer
Mike Jennings Senior Director
Enterprise Data Architecture
Q&A
Participants
Vik Manchanda Chief Information Officer
Mario Faria Chief Data Officer
Mike Jennings Senior Director
Enterprise Data Architecture
Conclusions
Agile Data Strategy and Lean Execution
Mario Faria
[email protected] @mariofaria
http://www.cdo-inc.com/