Despite what you may think, data has N🚫 intrinsic values.

Even today, businesses with a data-driven approach mindset and all their investments in data-related technologies such as data warehouses, data management, data pipelines, etc., do not include data and analytics leaders in the business conversation, and the data teams are treated as service desks rather than business partners.

Sound familiar?

Data and analytics leader and their data team deserve more, but now the question is how to make the data valuable if there is no intrinsic value in the data?

Data on its own does not have any intrinsic value, but how and what you do with data does. So if all the data and analytics leaders and their team would do is build #dashboard #businessintelligence, that's not going to help.

🫵You may wonder, what about achieving more complex outcomes such as training #machinelearning #AI models or building complex data products?

Let me tell you this; It is NOT about what they build. It is about how they worked out what to build and how they demonstrate the value of what their teams build.

To gain greater influence at the top table, be treated as a business partner, and be included in business conversations, the conversation, language, and terminologies matter. If all the data and analytics leaders talk about are #data #ai #ml #llms and etc., what businesses hear is the budget, cost, complexity, risk, and compliance.

What should they do?

✨Elevate the conversation from the data-driven approach and its related outcomes to business conversation. Talk about business decisions.

This shift will elevate the conversation, and you will have the business's attention. How do you do this?
🔹Pick a business operation and understand the business KPIs they care about
🔹Create a list of all business decisions they make and execute that are related to those KPIs
🔹Decompose the business decisions into smaller and more easy-to-understand decision units
🔹Identify their dependencies on each other and their data inputs
🔹Identify the #businessrules and decision logic associated with each of them
🔹Determine the metrics for each of them

🚀Now, you have the language with specific business terminologies to improve business decisions. Not only the language but also the blueprint and detailed roadmap of how to improve the metrics that will consequently improve business-related KPIs.

Learn more about Decision-Centric Approach® at https://lnkd.in/gcWUy9eU

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Published May 21st, 2024 at 07:30 am