Day One: Leveraging Data as a Strategic Asset
Monday, October 5th, 2020
9:10 AM Panel Discussion and Live Polling: Defining and Communicating the Value Proposition of the Data Organization
Incremental regulations have been driving executive sponsorship of data programs, but what will happen if the regulatory pressures lessen? How can you keep up the momentum when budgets are tightening? Data Officers have been at the forefront of creating a data driven culture that treats data as a strategic asset, but how can you make this process stickier? How do you effectively market yourself and your data organization to get continued funding? Hear lessons learned on how to:
- Outline the value proposition of your offering focused on solving needs and providing solutions
- Construct business cases to deliver value and innovation while continuing to meet obligations
- Communicate the value proposition of data to get the funding you need to allow data to reach the full potential
- Build bridges with the business to understand the different needs across the organization
Data organizations are now ultimately being tasked with enabling the business to grow revenue. Financial institutions have tremendous amounts of data to review spending, buying and lending patterns to better understand how to market additional products to customers. As businesses extract additional value from data and leverage it for revenue opportunities, ethics is becoming increasingly important. What are the ethical views around geolocation ethics and information ethics?
- What controls are required around ethics?
- What are your ethical obligations around data?
- What do you need to know about ethical risk tolerance?
- Where is the line when it comes to understanding the ins and outs of the customer to determine new product offerings and recommendations?