HOW TO DO IT EFFECTIVELY? HOW TO BUILD NEW PRODUCTS AND SERVICES BASED ON DATA?
This is the Holy Grail for everyone involved in data management. What – in the eyes of decision-makers – will change the perception of the value of data in an organization, than a tangible example of how resources can be used to build a specific financial value? When, having data, we can repack and reformat it in such a way as to create a new data-based product and services, then we become a business creators in the company.
Of course, it’s always easier said than done. Data monetization is a challenging activity – often being a virtuosity bordering on innovation and business courage. Examples of successful monetization (i.e. the one that creates a predictable and constant stream of value) are not so common, but they can be spectacular. Sometimes organizations do not even try to monetize – because they lack faith and competence, and above all, they lack the right leaders in the data area. Though the success could be quite close. Regulatory issues and the blurred boundaries of data ownership are also challenging.
How to properly approach data monetization? What do the experiences of others teach us? How are new data-based products and services built? We will look for answers to these and other challenges during the April CDO Forum Club meeting.
14.45 – 15.00 – We invite you to talk freely over a cup of coffee / tea – let’s get to know each other!
15.00 – 15.05 – Welcoming of the participants of the CDO Forum Club and introduction to the subject of the meeting (Przemysław Gamdzyk – Organizer of CDO Forum Club, Evention)
15.05 – 15.25 – The road to data monetization – signposts and examples
Data as a source of profit creation on the external side (new services, improvement of the offer) and internal side (process optimization, cost reduction). Necessary things – how to effectively introduce analytics to the organization. Case studies: 1. Large technology start-up (optimization of analytics, areas for improvement in the area of data and their use – which was achieved thanks to a good Data Governance structure and conducting several POCs based on it, identifying non-optimal processes); 2. A large clothing brand (choosing the right path and area for the implementation of advanced analytics based on ML / AI – as a result, an ML model was built that predicted the sales volume and allowed for an analysis of how different types of promotion affect it – instead of manual and based on assumptions and expert historical analysis (Kamil Cerazy – Warsaw School of Economics, Associate Manager, Market Risk, Financial Services Consulting, PwC Polska)
15.25 – 15.45 – panel among practitioners – The art of data monetization
Let’s talk about what are good ideas for data monetization? Where to get them – how to stimulate creativity and innovation in this area? Who should be involved in this? How to convince others in the company to accept them? How to build an action plan with a good idea and support for it? How and when to evaluate the implementation – so as not to stumble into a blind path and, at the same time, not cut off the promising options too early? (Tomasz Jamiński – Head of Data Science Grupa OLX; Artur Grządziel – Big Data Solution Architect, Data Scientist GE Healthcare; Tomasz Burzyński – Chief Data Officer, InPost; Tomasz Szmajter – Country Sales Manager, AZ Frame)
15.45 – 16.15 – Let’s talk in subgroups: discussions in smaller teams.
How to effectively monetize your data? What challenges do you have to face? What do our own experiences teach us? Is this a topic only for selected industries? Who does it best?
The groups will be looked after by representatives of the Program Council of the CDO Forum.
16.15 – 16.25 – Summary of discussions at the joint Forum
16.25 – 16.30 – Substantive commentary to the whole meeting
16.30 – 16.40 – Summary and end of the meeting (Przemysław Gamdzyk – Organizer of CDO Forum Club, Evention)
More details and registration link available >> here