Driven by Data | The Newsletter, Edition 76

With our Q3 event fast approaching and some other surprises up our sleeve, we have been swamped at Orbition HQ. We hope all our UK followers had a lovely summer bank holiday weekend and everyone is geared up for the months ahead!

Driven by Data | The Podcast

In Episode 43, of Season 4, of Driven By Data: The Podcast , Kyle Winterbottom was joined by Stijn (Stan) Christiaens , Co-Founder and Chief Data Citizen at Collibra . They discussed the framework to create financial value through data, the data vendor landscape and more, which included the catalyst for launching Collibra, what the title Chief Data Citizen means, setting up the chief data office inside Collibra and much much more.

Listen to the full episode here:

Current Roles

We currently have some exciting roles available. If any of them catch your interest, please reach out to our outstanding Senior Talent Partner, Natalia Kurasinski .

• Chief Data Officer
• Data Consultant
• Data Transformation Director
• Data Modeler
• Senior Data Architect x 2

Orbition Group at Chief Data Officer Exchange Travel and Hospitality

Next month, join Kyle Winterbottom for an engaging panel discussion titled "Creating Your Data Dream Team – Hiring and Retention in the Travel & Hospitality Sector," taking place on Day 2 at midday.

Building a successful data team in the travel and hospitality industry is a complex endeavour. The ideal candidates must possess a unique blend of technical and business skills, which can be challenging to find. While some companies struggle to attract new talent to the sector, others face difficulties in recruiting senior leaders who have both technical expertise and industry experience.

With top tech talent in high demand, it's essential to craft a forward-thinking strategy for hiring and retention. This discussion will delve into overcoming these challenges and how to build a data team that drives success in this increasingly competitive industry.

Featuring:

• Matt Lovell - Global Head of Data and Insight, Pret A Manger
• Dean Clyne - Head of Data & Analytics, MAG (Airports Group)
• John Bartlett - Head of Performance Insight & Excellence, 洲际酒店集团

Check out the full agenda here:

Can't make the CDO Exchange? Fear not, Kyle Winterbottom will also be attending the DTX 360 event at the London ExCeL in October. More info below:

Orbition Group Q3 event is just around the corner!

We’re absolutely thrilled to welcome back our amazing D&A community in just over a week for our London Q3 event. This summer has flown by, and we’ve been eagerly anticipating the chance to reconnect with our dynamic and inspiring community. ??

Our upcoming event promises to be one of the highlights of the year, bringing together thought leaders, innovators, and professionals from across the D&A landscape. ??

The DBD Mentorship

Applications for the 8th cohort of our Driven by Data: The Mentorship Programme are closing this October! This free programme has already established over 200 partnerships worldwide and is dedicated to developing, upskilling, and progressing the next generation of leaders in the data and analytics industry.

The programme connects aspiring data professionals with elite mentors from the Orbition Group community. These mentors are high-profile thought leaders in the global D&A space, including business leaders, published authors, and keynote speakers. Their guidance and expertise provide invaluable support to those looking to grow and excel in their careers.

With such a strong response from aspiring mentees, we’re now seeking more mentors to meet the growing demand. At Orbition Group , we’re committed to supporting the D&A community and shaping the future of our industry. If you’re passionate about mentoring and helping to develop the next wave of Data Leaders, we’d love to have you on board. Check out what mentor Roberto Maranca had to say:

Click on this link to join us in making a lasting impact:

Lookback Tuesday

At Orbition Group , our commitment to fostering inclusive workforces for our clients is unwavering. With this dedication in mind, at the start of the year, we published a research project aimed at assessing the extent of the gender disparity in the data industry. This involved quantitatively examining gender representation among junior, mid-level, and senior data professionals across the United Kingdom, the United States, and Europe.

Read the full report by clicking on the image below:

Talking to a CDO??Think Like an Economist

This week's insight blog is brought to you by Bill Schmarzo

The Chief Data Officer (CDO) role has evolved significantly over the past five to seven years. It has transitioned from a CIO Mini-me, focused on managing data infrastructure, to a business executive tasked with deriving value from the organisation’s data. Senior management now recognises the potential of data to optimise operations, mitigate risks, generate new revenue streams, and create a more compelling, differentiated customer experience. As a result, there is an increased demand for CDOs with economics training, highlighting the importance of an interdisciplinary approach to data management, advanced analytics, and business strategy.

Research shows that CDOs with economic backgrounds are increasingly successful[1]. Economics training equips CDOs with a robust framework for creating value and aligning data initiatives with organisational business and operational goals. These economics-equipped CDOs blend technical data expertise with strategic economic principles, enhancing their ability to interpret complex data and optimise operational decision-making. Their understanding of causal relationships and business implications further aligns data and AI strategies with broader organisational goals.

“The CDO Toolkit”

The original title for my book, “The Economics of Data, Analytics, and Digital Transformation,” was the “CDO Toolkit.” Given the CDO’s rapidly changing role and charter, I envisioned the book as a comprehensive resource to help CDOs navigate their evolving responsibilities. The CDO could use a toolkit to help them apply modern data economic concepts to unleash the value of their data by optimising or re-engineering key business processes, reducing operational and compliance risks, creating a more compelling and engaging customer experience, and driving data-driven innovation. This toolkit would equip CDOs with economic-based strategies and methodologies to manage and leverage data more effectively as a strategic business asset (Figure 1).

Organisations increasingly recognise the importance of leveraging data for a competitive edge. This has led to a growing requirement for Chief Data Officers (CDOs) who have a firm grasp of business and economic principles and the ability to “more effectively leverage data and analytics to power the organisation’s business and operational models” (Figure 2).

Let’s consider a situation where you need to interact with the Chief Data Officer (CDO) of a major theme park. Let’s explore how modern economic concepts can help facilitate a more relevant and meaningful discussion with the CDO.

Engaging a CDO:? Theme Parks Scenario

Leading theme parks concentrate intensively on guest experience, utilising sophisticated metrics to measure customer satisfaction and engagement. These metrics can encompass four core indicators: Safety, Courtesy, Show, and Efficiency, each contributing to exceptional service and memorable guest experiences.

To effectively engage the theme park’s CDO, aligning with the business and operational initiatives that the CDO is seeking to optimise is crucial. Start by thoroughly researching how data and analytics can enhance guest experiences in the abovementioned areas. Tools like the “Dean of Big Data” GPT can be invaluable in identifying, exploring, and understanding potential use cases (it’s free if you have ChatGPT4). This preparation will help you shape your conversation around initiatives to improve guest experiences, thus resonating with the CDO’s objectives and demonstrating your commitment to their key concerns. Table 1 lists some use cases that the “Dean of Big Data” GPT identified that might be relevant to the CDO conversation.

While the data and analytic technologies enabling these use cases are essential, the CDO will probably find the economic aspects of the data and analytics conversation even more compelling. Focusing on how to leverage data and analytics to create new sources of value for guests, the park, and individual attractions will better align with the CDO’s strategic goals. Highlighting the economic impact of data initiatives – such as increased revenue, improved operational efficiency, and enhanced guest satisfaction – can make your conversation more relevant, meaningful, and impactful.

Table 2 outlines how various economic data concepts can assist the CDO in unlocking the economic value of their data.

CDO: Thinking Like an Economist Summary

If you want to communicate effectively with the Chief Data Officer (CDO), it’s essential to understand that their role has evolved significantly. They are no longer just responsible for managing data systems; instead, they now focus on using data to create business, operational, and customer value. This shift means there is a growing demand for CDOs with a background in economics. Research shows that CDOs with expertise in economics are successful because they can combine their technical knowledge of data with strategic economic principles. This unique blend of skills allows them to lead their organisation in leveraging data and analytics to achieve better business and operational outcomes.

Originally published on Data Science Central on June 22, 2024. Republished here with permission of the author Bill Schmarzo .

And of course our weekly data joke:

Why did the data analyst get kicked off the baseball team?

They kept trying to “curve” the stats!

See you next time!