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How do you drive data innovation across your organization?

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Data innovation is the process of creating new value from data, whether by developing new products, services, insights, or solutions. It can help your organization gain a competitive edge, improve customer satisfaction, and optimize operational efficiency. But how do you foster a culture of data innovation across your organization? Here are some tips to help you drive data innovation in your teams and departments.

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Jitender Girdhar

3 TEDx Talks | Bestselling Author | Entrepreneur | Columnist | I help founders and leaders 10x their impact | Follow…
James Tunkey

Chief Operating Officer @ I-OnAsia | TRIUM Global Executive MBA

1 Define your data vision and goals

The first step to drive data innovation is to have a clear and shared vision of what you want to achieve with data and why. This vision should align with your organization's mission, values, and strategy, and reflect the needs and expectations of your customers and stakeholders. You should also set specific, measurable, achievable, relevant, and time-bound (SMART) goals for your data initiatives, and communicate them clearly to your teams. This will help you create a sense of purpose, direction, and accountability for your data innovation efforts.

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Jitender Girdhar

3 TEDx Talks | Bestselling Author | Entrepreneur | Columnist | I help founders and leaders 10x their impact | Follow for No-Nonsense insights on Leadership, Growth, and Mindset
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The first and foremost thing is to have complete clarity on the objective. The stakeholders need to agree on the KPIs and prepare the strategy accordingly. Most such initiative fail, because of not having clarity on vision.

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2 Empower your data talent

The second step to drive data innovation is to empower your data talent, meaning the people who have the skills, knowledge, and passion to work with data. You should provide them with the tools, resources, and support they need to access, analyze, visualize, and share data effectively. You should also encourage them to collaborate, experiment, learn, and innovate with data, and reward them for their achievements and contributions. You should also create opportunities for them to grow and develop their data skills, such as through training, mentoring, or coaching.

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Jagat S.

Driving Growth for Retail, CPG, eCommerce | Delivery Leader | ex-Infosys | Writer, Speaker | Empathetic Mentor | Int'l roles (US, EU) I ex-Infosys
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Having working on large and medium scale data innovation and transformation projects here are few 'hygiene' factors that needs to be in place so that Data talents are empowered and are setup for success. 1. Create a COE/ecosystem to foster collaboration and continuous learning. Provide access and the bandwidth to pursue exploratory work. 2. Nurture the data 'champions' with a Rewards & Recognition and 'Skill Tag' program and career advancements. 3. Provide them with opportunities to attend high impact training, get mentoring, and participate in professional development activities. 4. Goal Setting: Setting up of clear goals and KPIs for the data talent that is also linked to the organizational goals and objectives.

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3 Build a data-driven culture

The third step to drive data innovation is to build a data-driven culture, meaning a culture that values and uses data to inform decisions, actions, and outcomes. You should promote a mindset of curiosity, openness, and evidence-based reasoning among your teams, and foster a climate of trust, transparency, and feedback around data. You should also involve your teams in the data innovation process, and solicit their input, ideas, and feedback. You should also celebrate your data successes, and learn from your data failures.

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James Tunkey

Chief Operating Officer @ I-OnAsia | TRIUM Global Executive MBA
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Take inspiration from the nearly-disastrous Apollo 13 Space mission. If not for a common cultural bond and organizational mission at #NASA, the flight would have ended as a disaster. A common cultural bond creates a safe space for people to address shortcomings and failures, uniting to address existential challenges. And, as we know from the Apollo 13 lore, common culture can have a big impact in the arenas of applied science, serendipity, and non-linear thinking. When “failure isnt an option”, and you are close to crash and burn, culture may save you. In that moment, you don’t want everyone to think the same, or have the same #analyticalskills. You want people who understand what it means to be data-driven to ask, “Have you thought of X?”

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4 Leverage external data sources and partners

The fourth step to drive data innovation is to leverage external data sources and partners, meaning the data and expertise that exist outside your organization. You should explore the opportunities and challenges of using external data, such as from social media, sensors, or open data platforms, to enrich your internal data and generate new insights. You should also seek out and collaborate with external partners, such as customers, suppliers, or researchers, who can offer different perspectives, experiences, or solutions for your data challenges.

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5 Monitor and measure your data impact

The fifth step to drive data innovation is to monitor and measure your data impact, meaning the results and benefits of your data initiatives for your organization and its stakeholders. You should define and track key performance indicators (KPIs) that reflect your data goals, and use them to evaluate your data progress and outcomes. You should also collect and analyze feedback from your customers and stakeholders on how your data products or services meet their needs and expectations. You should also report and communicate your data impact to your teams, management, and external audiences, and use it to inform your future data actions and priorities.

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6 Adapt and improve your data practices

The sixth step to drive data innovation is to adapt and improve your data practices, meaning the ways you collect, store, manage, and use data in your organization. You should continuously monitor and assess the quality, relevance, and security of your data, and address any issues or gaps that arise. You should also keep up with the latest trends, technologies, and best practices in data, and adopt or adapt them to your context and needs. You should also seek out and implement feedback and suggestions from your teams, customers, and partners on how to improve your data practices.

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Valerie Nielsen

| Risk Management | Internal Audit | Process Improvement | Technology | Operationalizing Compliance | Third Party Vendors | Geopolitics | Revenue at Risk | Board Member | Transformation | Governance | Speaker |
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It is all about the users. Innovation is interesting and it is fun to participate in the process. The data innovation team has to solve a pain point and/or problem for a constituency that needs a data problem solved.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How do you drive data innovation across your organization?

1

2

3

4

5

6

7

1 Define your data vision and goals

2 Empower your data talent

3 Build a data-driven culture

4 Leverage external data sources and partners

5 Monitor and measure your data impact

6 Adapt and improve your data practices

7 Here’s what else to consider

Analytical Skills

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How do you drive data innovation across your organization?

1

2

3

4

5

6

7

1 Define your data vision and goals

2 Empower your data talent

3 Build a data-driven culture

4 Leverage external data sources and partners

5 Monitor and measure your data impact

6 Adapt and improve your data practices

7 Here’s what else to consider

Analytical Skills

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