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5 Steps To Transform into A Data-Driven Organization : Webinar

Ganes Kesari, Gramener's Chief Data Scientist & Co-Founder hosted an informative webinar that will teach you how to assess your data maturity.<br><br>Who should watch?<br>Executives, Analytics Officers, Business Heads, Directors.<br><br>Learnings:<br><br>-Data Science. What exactly is it, and why is it significant?<br>-How to determine data science maturity and its challenges<br>-How does data science maturity help your company advance?<br><br>Webinar link: https://info.gramener.com/5-steps-to-transform-into-data-driven-organization<br><br>To know more about data maturity visit:<br>https://gramener.com/data-maturity/#

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5 Steps To Transform into A Data-Driven Organization : Webinar

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  1. 5 Steps to Transform into a Data-Driven Organization Webinar, May 2021 Ganes Kesari

  2. Top Challenges CDOs Face 5-Steps To Become Data-Driven How Data Maturity Can Help You

  3. Introduction GanesKesari Co-founder & Chief Decision Scientist • Insights as Stories Help start, apply and adopt Data Science • 100+ Clients /gkesari @kesaritweets “Simplify Data Science for all”

  4. “Digital Transformation” – Urgency without clarity? Comic by Marketoonist

  5. “Digital Transformation” and Data: A pandemic snapshot • Role of data leaders in digital transformation • Data leaders are leading or heavily involved in digital transformation • Data teams have grown (49%), budgets have expanded (43%) • Almost half increased their team headcount • By end of this year, in 75% of large enterprises, the CDO office will be a mission-critical function like IT, HR, and Finance. Gartner’s 6thCDO Survey, 2021

  6. Here’s a short & simple poll to help you reflect. Poll #1 Which of these is the biggest challenge for your organization?

  7. Top Challenges CDOs Face How Data Maturity Can Help You 5-Steps to Become Data-Driven

  8. Not every organization achieves the same level of value from data • The gap between data science ‘leaders’ and ’laggards’ is widening.1 • Only 37% executives report that they have created a data-driven organization.2 Funding and Resources People and Skills • Top 5 challenges reported by CDOs3 Culture and Change Data literacy Data Science Strategy • Reference: McKinsey report - Catch them if you can: How leaders in data and analytics have pulled ahead • Reference: New Vantage Partners survey - Big Data and AI Executive Survey 2020 • Reference: Gartner report – 5 Pitfalls to avoid when designing an effective data & analytics organization

  9. These challenges vary throughout an organization’s data journey • How to make data a habit across every individual in the organization? • How can “data value” influence every investment we make? • How to scale up our governanceand processes to improve execution? • How do we establish clear linkages between data and business ROI Level 4 Level 5 • How do we move up from Pilots to Production? • How to orient our data science strategywith our business goals? • What business problems should we solve first? • What skills and tools do we need? Level 3 • How to tap into internal and external data for the right business insights? • How can data stories help our users adopt data for decision making? Level 1 Level 2

  10. One factor that influences the outcomes of all your data initiatives “ Data maturity is a pre-requisite to getting the most from your analytics program. Capabilities Gaps Benchmark - Gartner

  11. Data Maturity is like a compass on your data journey

  12. Here’s a short & simple poll to help you reflect. Poll #2 Have you ever done a data maturity assessment for your organization/team?

  13. Top Challenges CDOs Face How Data Maturity Can Help You 5-Steps to Become Data-Driven

  14. Organizations mature in their data journey through five levels Level 1 Basic Level 2 Opportunistic Level 3 Systematic Level 4 Differentiating Level 5 Transformational D&A is transactional and managed in silos D&A Strategy is not business relevant Business executives become D&A champions Business-led with clear data leadership roles Lacks trust in data; analysis is adhoc Lacks leadership support; organizational barriers Data types treated differently D&A is central to business strategy Clear linkages to outcome and business ROI Data value influences investments Gartner Maturity Model for Data and Analytics (D&A)2 • Gartner found1 that 87% of organizations were in low maturity (levels 1 & 2) • Reference: Gartner press release – 87 percent organizations have low maturity • Reference: Gartner research - IT Score for Data & Analytics

  15. How can you assess your data maturity? • Not very different from SAT/CAT tests.. • ..tailored to gauge data capabilities

  16. What goes into the data maturity score? Gramener Data Science Maturity Assessment methodology

  17. What can data maturity assessments tell you? Gramener Data Science Maturity Toolkit

  18. “ “ Amongst organizations that reached the highest level of Data Maturity, nearly half of them significantly exceeded business goals. Analytics maturity IS associated with company performance. 59 of 72 key metrics show association. - IIA - Deloitte Reference: IIA report Reference: Deloitte report

  19. Steering your organization on the data-driven path

  20. Top Challenges CDOs Face How Data Maturity Can Help You 5-Steps to Become Data-Driven

  21. The 5 steps to a data-driven organization 1. Reflect ..on Organizational Strategy • Define the Vision & Strategy • Assess maturity & benchmark

  22. The 5 steps to a data-driven organization • Identify strategic programs 1. Reflect ..on Organizational Strategy 2. Align ..on Business Priorities • Build a data roadmap

  23. The 5 steps to a data-driven organization • People, process & technology needs 1. Reflect ..on Organizational Strategy 2. Align ..on Business Priorities 3. Define ..the Execution Process • Define governance & execute

  24. The 5 steps to a data-driven organization • Improve data literacy, adoption 1. Reflect ..on Organizational Strategy 2. Align ..on Business Priorities 3. Define ..the Execution Process • Measure ROI from initiatives 4. Adopt ..to realize Business Value

  25. The 5 steps to a data-driven organization • Promote data-driven culture 1. Reflect ..on Organizational Strategy 2. Align ..on Business Priorities 3. Define ..the Execution Process 4. Adopt ..to realize Business Value 5. Radiate ..across the Organization

  26. The 5-step RADAR Methodology will help your business level-up RADAR Data-to-Value Methodology Reflect Align Define Adopt Radiate on Business Priorities the Execution Process on Organizational Strategy for Business Outcomes across the Organization • Smart Art design by TinyPPT.com

  27. How does the 5-step RADAR framework address the top 5 challenges? Align Define Funding and Resources People and Skills • Top 5 challenges reported by CDOs Culture and Change Data literacy Data Science Strategy Radiate Adopt Reflect

  28. How are data science projects typically picked and executed? Consider a small-sized retail chain who wants to start off on the analytics journey. Here’s what typically happens: • But, is this the best approach? What can go wrong? • Alignment with Biz strategy is assumed, as forecasting is a relatively common issue for retail • Lack of sales forecasts is assumed to be the most pressing business problem • Sales teams often don’t know how to action the statistical outputs of forecasting models • Consolidate data in a spreadsheet • Plot the data • Forecast using built in regression techniques in Excel • Now, the organization has sales forecasts which possibly are much better than intuition.

  29. Let’s revisit the same scenario using the 5-Step RADAR approach Consider a small-sized retail chain who wants to start off on the analytics journey. Here’s how it should be done: • Leadership sees supply-demand bottlenecks increasing as they scale • From use cases, (a) Sales forecasting, (b) Supply – Demand optimization & (c) Scenario planning, they chose (b) based on org priorities • A simple database which snapshots Sales and Inventory data is planned • This is used to create an optimization algorithm in 3 weeks. Processes were tweaked to allow for Sales & Warehouse teams to consume the outputs • Sales & Warehouse teams were taken through a data literacy training to better leverage the outputs 1. Reflect 2. Align 3. Define 4. Adopt 5. Radiate

  30. With each “Radiate” phase there is multiplying impact & value from data Radiate Reflect Adopt Radiate Reflect Adopt Reflect Define Align Align Align Define RADAR sets off a positive spiral of business value

  31. Discovering the treasure islands in your data-journey

  32. Here’s a short & simple poll to help you reflect. Poll #3 Which of these 5 steps do you need help with?

  33. A Logistics leader becomes Data-driven and slashes Warehouse Turn-times by 16% Context The client is a leading provider of logistics solutions in the US. They have a presence across the country and operate several dozen cold storage warehouses. • Challenges • The organization aspired to become data-driven and level-up into data science to transform the business operations: • Choosing the most impactful initiatives • Acquiring the skills, processes, and tools • Measuring ROI from data science investments • Organizing data science teams and promoting collaboration • Managing change and improving adoption 33

  34. Transforming into a data-driven organization, step by step Cycle 1 1. Reflect • Optimize warehouse operations to improve customer satisfaction 2. Align • Reduce warehouse turn-times 3. Define • Augment skills, processes • Build appointment scheduler 4. Adopt • Pilot in 3 warehouses • Storytelling for 80%+ adoption 5. Radiate • Productionize in all locations • Manage change

  35. Transforming into a data-driven organization, step by step Cycle 1 … Today 1. Reflect • Optimize warehouse operations to improve customer satisfaction • Improve Ops efficiency • Drive revenue impact 2. Align • Reduce warehouse turn-times • Design an innovation funnel • Expanded beyond quick-wins • Robust experimentation pipeline 3. Define • Augment skills, processes • Build appointment scheduler • Data maturity at Level 3 • Streamlined governance • Pilot in 3 warehouses • Storytelling for 80%+ adoption • 16% reduction in turn-time • ROI Tracking framework 4. Adopt • Productionize in all locations • Manage change • Data-driven leadership • Marketing, success stories 5. Radiate

  36. Free Toolkits and Useful References • Take our 5-minute Data Science Maturity Assessment to find out where you stand and what you should do next. References to learn more: When should you not invest in AI? Whiteboard Series:Executive insights with data in under 5 minutes Webinar:The best way to Choose your Data Science Projects The 5 roles that every data science team must hire

  37. Thank You! Reach out for a free discovery session: https://gramener.com/data-advisory-workshop /gkesari @kesaritweets gramener.com

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