Episode 19 Bill Schmarzo: Using design thinking x data science to monetise data
In my 19th Episode I speak to the incredible and enigmatic Bill Schmarzo innovator, educator, influencer and the Dean of Big Data. We talk about: 1) The origin of the "Dean of Big Data! 2) How organisations identify sources of value creation with data 3) Why the "pre-work" or "foundations" are the investments companies need to forge at the beginning of their data strategies 4) Why Design Thinking is important in the process of data transformation 5) Why there is a need to marry Design Thinking with Data Science 6) Why data initiatives die of passive / aggressive behaviour 7) Why culture is so hard and why exec management need to let go and get out of the way 8) Why command and control structures continue to impede transformation 9) What is value engineering and why it's important in the process of data and business transformation 10) Why companies need to do "proof of value" before committing to use cases 11) Why the economics of learning are more powerful than the economies of scale 12) What is "orphaned analytics" and how companies need to avoid this analytics debt 13) Why looking at the Tesla FSD model should be the model and inspiration for data initiatives 14) Why organisation improvisation leads to an empowerment of teams 15) Why swirls are better than boxes for successful collaboration, innovation and successful outcomes 16) Why there needs to be a person in the company focused solely on "data monetisation! 17) Why data will be the catalyst for economic growth in the 21st Century 18) What is the "analytics chasm" and why does it exist 19) The birth of "nano economics" for data 20) How to optimise the machine - human interface About Bill: The “Dean of Big Data,” I bring a business-first approach to helping organizations leverage advanced analytics and data science to uncover the customer, product and operational insights buried in the organization’s data that power digital transformation. He drives data monetization. Uniquely integrated Design Thinking with Data Science and employs a “Rapid exploration, rapid testing, failure-empowering, continuously-learning” data science development methodology that enables the monetization of the insights buried in the data. An influencer and innovator. Recognized as an industry leader in Big Data, Data Science, Design Thinking and Data Monetization, integrating these disciplines to drive organizational empowerment and digital transformation. Professor and Educator. He has developed and teaches the “Big Data MBA” – a course for integrating data and analytics into the operations of the business – at University of San Francisco School of Management and National University of Ireland-Galway School of Business & Economics. He also lectures to numerous universities and organizations worldwide. As an author he has written 4 books “Big Data: Understanding How Data Powers Big Business,” “Big Data MBA: Driving Business Strategies with Data Science” and the forthcoming “Economics of Data, Analytics and Digital Transformation;” and published over 350 industry-leading articles and educational videos on the application of Big Data, Data Science, AI / ML and IoT to drive data monetization and digital transformation.