Podcast appearances and mentions of doug laney

Generative AI and unstructured data are transforming how businesses improve customer experiences and streamline internal processes. As technology evolves, companies find new ways to gain insights, automate tasks, and personalize interactions, unlocking new growth opportunities. The integration of these technologies is reshaping operations, driving efficiency, and enhancing decision-making, helping businesses stay competitive and agile in a rapidly changing landscape. Organizations that embrace these innovations can better adapt to customer needs and market demands, positioning themselves for long-term success.In this episode, Doug Laney speaks to Katrina M. Conn, Senior Practice Director of Data Science at Teradata, and Sri Raghavan, Principal of Data Science and Analytics at AWS, about sustainability efforts and the ethical considerations surrounding AI. Key Takeaways:Generative AI is being integrated into various business solutions.Unstructured data is crucial for enhancing customer experiences.Real-time analytics can improve customer complaint resolution.Sustainability is a key focus in AI resource management.Explainability in AI models is essential for ethical decision-making.The combination of structured and unstructured data enhances insights.AI innovations are making analytics more accessible to users.Trusted AI frameworks are vital for security and governance.Chapters: 00:00 - Introduction to the Partnership and Generative AI02:50 - Technological Integration and Market Expansion06:08 - Leveraging Unstructured Data for Insights08:55 - Innovations in Customer Experience and Internal Processes11:48 - Sustainability and Resource Optimization in AI15:08 - Ensuring Ethical AI and Explainability23:57 - Conclusion and Future Directions

Trusted AI ensures that people, data, and AI systems work together transparently to create real value. This requires a focus on performance, innovation, and cost-effectiveness, all while maintaining transparency. However, challenges such as misaligned business strategies and data readiness can undermine trust in AI systems. To build trusted AI, it's crucial to first trust the data. A robust data platform is essential for creating reliable and sustainable AI systems. Tools like Teradata's ClearScape Analytics help address concerns about AI, including issues like generative AI hallucinations, by providing a solid foundation of trusted data and an open, connected architecture.In this episode, Doug Laney, Analytics Strategy Innovation Fellow with West Monroe Partners, speaks to Vedat Akgun, VP of Data Science & AI and Steve Anderson, Senior Director of Data Science & AI at Teradata, about trusted AI. Key Takeaways:Value creation, performance, innovation, and cost-effectiveness are crucial for achieving trusted AI.Trusting data is essential before building AI capabilities to avoid biases, inaccuracies, and ethical violations.A robust data platform is a foundation for creating trusted and sustainable AI systems.Generative AI raises concerns about hallucinations and fictitious data, highlighting the need for transparency and accountability.Teradata offers features and capabilities, such as ClearScape Analytics and an open and connected architecture, to address trust issues in AI.Chapters:00:00 - Introduction and Defining Trusted AI01:33 - Value Creation and the Importance of Driving Business Value03:27 - Transparency as a Principle of Trusted AI09:00 - Trusting Data Before Building AI Capabilities14:51 - The Role of a Robust Data Platform in Trusted AI21:09 - Concerns about Trust in Generative AI23:03 - Addressing Trust Issues with Teradata's Features and Capabilities25:01 - Conclusion

In this talk, Douglas emphasizes that data, when treated as a valuable asset rather than a byproduct, can drive immense value for organizations. Data's unique qualities—its ability to be used repeatedly without depletion and to generate more data—can transform businesses, especially when leveraged strategically through innovative technologies and proper asset management. Douglas advocates for organizations to move beyond just reporting and compliance, and instead focus on using data to generate actionable insights that improve outcomes and create new value streams.Originator of the "3 Vs" of big data: Volume, Velocity, and Variety. Douglas LaneyAdvisor. Speaker. Author. Instructor.https://www.douglasblaney.com/Doug Laney is a best-selling author and recognized authority on data and analytics strategy. He advises senior IT, business and data leaders on data monetization and valuation, data management and governance, external data strategies, analytics best practices, and establishing data and analytics organizations. Doug's book, Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage, was selected by CIO Magazine as the “Must-Read Book of the Year” and a “Top 5 Books for Business Leaders and Tech Innovators.”​Currently, the Data & Analytics Strategy Innovation Fellow with the consulting firm West Monroe, Doug previously held the position of Distinguished Analyst with Gartner's Chief Data Officer research and advisory team and was a three-time Gartner annual thought leadership award recipient.In addition, Doug launched and managed the Deloitte Analytics Institute, is a Forbes contributing writer and has been published in the Wall Street Journal and the Financial Times among other journals. Doug has guest-lectured at major business schools around the world and is a visiting professor with the University of Illinois Gies College of Business where he teaches Infonomics and Business Analytics Executive Overview courses, which also are available online via Coursera.He also co-chairs the annual MIT CDO/IQ Symposium, is a visiting professor at Carnegie Mellon University's Heinz College, is a member of the World Economic Forum's data exchange initiative, a member of the American Economic Association, and sits on various technology company advisory boards.Follow and connect with Doug via Twitter @Doug_Laney and LinkedIn. #infonomicsSubscribe to our podcast, and leave a reviewConnect with us on Instagram, FaceBook, Twitter , and LinkedInhttps://eima-inc.com/lets-talk-small-data@letstalksmalldatapodMusic credit: Yung Kartz

Real-time data insights help identify performance bottlenecks, manage data efficiently, and drive innovation. Despite the growing need for these capabilities, organisations often face challenges in implementing effective real-time analytics. Achieving high-concurrency data processing is crucial for overcoming performance bottlenecks in real-time analytics. Embracing real-time analytics is not just a necessity, but a way to transform your data into actionable insights, optimise performance, and fuel business growth.Yellowbrick is a modern data platform built on Kubernetes for enterprise data warehousing, ad-hoc and streaming analytics, AI and BI workloads that ensures comprehensive data security, unparalleled flexibility, and high performance. In this podcast, Doug Laney, a Data Strategy Innovation Fellow with West Monroe, speaks to Mark Cusack, the CTO of Yellowbrick, about the power of real-time analytics. Key Takeaways:Real-time analytics enables faster business decisions based on up-to-date data and focuses on enabling actions.Using a SQL data platform like Yellowbrick, designed for high-concurrency data processing, can address performance bottlenecks in real-time analytics.Chapters:00:00 - Introduction and Overview01:07 - The Benefits of Real-Time Analytics06:23 - Overcoming Challenges in Implementing Real-Time Analytics06:51 - High Concurrency Data Processing for Real-Time Analytics13:59 - Yellowbrick: A Secure and Efficient SQL Data Platform

Managing large volumes of data in the context of AI and machine learning applications presents challenges related to data quality, data preparation, and automation. The requirements of data management are changing with the advent of generative AI, requiring more flexibility and the ability to handle larger volumes of data. Pimcore leverages AI and machine learning to automate data utilization and improve data intelligence. By streamlining data management and integrating various data sources, Pimcore drives revenue growth for its customers. The platform combines data management and experience management to deliver personalized data across communication channels. Pimcore's MDM solution addresses the challenges of integrating data for both human and machine consumption. The choice between physical and virtual MDM hubs depends on the use case and industry. In this episode of the EM360 Podcast, Doug Laney, Data and Analytics Strategy Innovation Fellow at West Monroe speaks to Dietmar Rietsch, Managing Director and Co-Founder of Pimcore, to discuss: Data managementAIMachine learningData quality

Government organisations face a multitude of challenges when it comes to managing their data effectively. From interoperability issues between systems to the need for seamless collaboration across agencies, the complexity can be overwhelming. Safe Software's FME platform offers a comprehensive solution to these challenges by providing a flexible and intuitive data integration platform tailored to the unique needs of government agencies.With FME, government organisations can overcome the barriers that hinder efficient data management. FME enables streamlined operations and improved decision-making processes by seamlessly connecting disparate systems and applications. Whether it's digital plan submissions, emergency services coordination, or interagency health data sharing, FME empowers government agencies to achieve their data integration goals with ease.In this episode of the EM360 Podcast, Doug Laney, Data and Analytics Strategy Innovation Fellow at West Monroe speaks to Tom Seymour, Government Sales Team Lead at Safe Software, to discuss: Data integration and interoperability Safe Software's FME platform FME in governments Advantages of FME ROI with FME

With a little imagination, the possibilities for monetizing data are endless. In this episode of The Main Scoop™, hosts Greg Lotko and Daniel Newman are joined by Doug Laney, fellow at West Monroe and author of the best-selling books Infonomics and Data Juice, to explore unique strategies for - and real examples of - collateralizing data assets. It was a great conversation and one you don't want to miss. Like what you've heard? Check out all our past episodes here, and be sure to subscribe so you never miss an episode of The Main Scoop™ series.

Doug Laney, innovation fellow for data and analytics strategy with West Monroe, joins host Andrew Miller to discuss valuing data – including why organizations are interested in measuring the value of their data and ways to quantify data's value. Please visit tdwi.org/events and locate the TDWI Nashville agenda to learn more about Doug's course on data monetization.

Learn how to squeeze the most out of your data assets during our interview with Doug Laney, Innovation Fellow at West Monroe and author of the best-selling books, Infonomics & Data Juice. He'll also share the advantages of monetizing your data and how to get started now.Highlights:2:00 - Doug's background4:10 - His role as innovation fellow at West Monroe5:10 - What does digital mean to you?7:00 - About Doug's books, Infonomics and Data Juice10:30 - Get ideas from adjacent industries11:30 - Learnings from other companies13:10 - Substituting data for inventory14:37 - Commonalities in stories15:30 - How do you think about data monetization?18:40 - The benefits of data monetization programs22:00 - Data as an asset23:20 - How do you assess a client's data acumen?23:58 - Companies that get data monetization right25:20 - Private equity target for data monetization26:40 - Multiplier effect around making data more valuable28:34 - How have the ideas in his books impact businesses

How do you come up with new ideas to monetize data assets? My guest is the one and only Doug Laney who just published a new book called Data Juice: 101 stories of how organizations are squeezing value from available data assets. Signup to win a free copy at http://discoveringdata.com/juice (discoveringdata.com/juice). You can follow Doug Laney on https://www.linkedin.com/in/douglaney (LinkedIn). Episode page https://www.discoveringdata.com/podcast/episode-047 (https://www.discoveringdata.com/podcast/episode-047) For Brands Do you want to showcase your thought leadership with great content and build trust with a global audience of data leaders? We publish conversations with industry leaders to help practitioners create more business outcomes. Explore all the ways to tell your data story here https://www.discoveringdata.com/brands (https://www.discoveringdata.com/brands). For sponsors Want to help educate the next generation of data leaders? As a sponsor, you get to hang out with the very in the industry. Want to see if you are a match? Apply now: https://www.discoveringdata.com/sponsors (https://www.discoveringdata.com/sponsors) For Guests Do you enjoy educating an audience? Do you want to help data leaders build indispensable data products? That's awesome! Great episodes start with a clear transformation. Pitch your idea at https://www.discoveringdata.com/guest (https://www.discoveringdata.com/guest).

Data management is essential for the enterprise to get right, especially now as firms across all sectors are collecting and using vast amounts of data.  But what exactly is good data management? Why do we need it? And what are some of the unacknowledged ramifications that have serious impacts on our day-to-day lives? In this episode of the EM360 Podcast, Analyst https://em360tech.com/user/3642 (Doug Laney) speaks to https://www.linkedin.com/in/mkapushesky/ (Misha Kapushesky), CEO at https://em360tech.com/solution-providers/genestack (Genestack) and https://www.linkedin.com/in/vivek-iyer-686b301/ (Vivek Iyer), Team Lead, Human Genetics Informatics, from the https://www.linkedin.com/company/wellcome--institute/ (Wellcome Institute), to discuss: What makes good data management How data impacts everyday life Driving behavioural and cultural change

Your critical enterprise data should serve as a foundation for your business providing significant business value. So why not leverage this data for EVERYTHING it is worth?In this episode of CDO Matters, Malcolm sits down with West Monroe's Data & Analytics Strategy Innovation Fellow, former Gartner analyst and best-selling author Doug Laney to discuss the business value that can come from data. Doug's book, Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage, was selected by CIO Magazine as the “Must-Read Book of the Year,” a “Top 5 Books for Business Leaders and Tech Innovators,” and by the Wall Street Journal as one of its “5 Summer Reads for CIOs.”  His latest book, Data Juice: 101 Real-World Stories of How Organizations Are Squeezing Value From Available Data Assets has received accolades from business, data, analytics and IT executives and practitioners around the world.  During their discussion, they touch on key data value topics including how to measure data as an asset within your organization, the overall state of data management, evaluating data context and reporting on the actual value that critical data brings. They go on to talk about alternative forms of data value (e.g., tokenized data, cryptocurrencies) and how the principles of his latest book apply to real-world business use cases. The conversation closes with the two weighing in on what they believe the future will be like for enterprise data strategies before concluding on the importance of sharing data governance within your business. **Stick around to the end of the podcast as Doug makes you a valuable offer you don't want to miss** Key Moments [4:53] The Importance of Info-nomics [9:00] Measuring Data as an Asset [12:23] The State of Data Management [15:03] Evaluating Data Context [19:33] Reporting on the Value of Data [23:53] Alternative Data Values – Tokenizing Data & Crypto [25:43] Applying ‘Data Juice' to Real-World Use Cases [31:03] The Future of Enterprise Data Strategy [35:23] Sharing Data Governance Key TakeawaysThe 3 Ms of Info-nomics: Measure, Manage and Monetize [6:51 – 8:55] “With [CDOs], the role is still kind of being defined…it's really about how to manage and leverage data as an actual asset. That's really what's at the core of what [CDOs] need to be doing to drive and prove value from data.” – Doug LaneyHow to Measure the Monetary Impact of Your Data [8:57 – 9:55] “The state of data management...I would give it about a five or maybe a solid six [out of 10] ...Getting back to the notion of measuring, what I would hear all the time from all the CDOs and CIOs…is that the impacts here from a data perspective are indirect.” – Malcolm Hawker Improving the Data Process for Better Performance [10:24 – 11:20] “We developed an entire metrics framework…that can be used to empirically track how improvements in various quality metrics and data governance indicators drive improvements in business process performance leading to revenue improvements, profit improvements, market share, risk reduction, etc.” – Doug Laney Why Value Your Data? [17:06 – 19:10] “Depending on why you want to value the data, whether you are trying to get investments or whether you are trying to justify the benefits of an analytic use case …there are a variety of reasons that you would want to value your data...the standards methods of evaluating any asset are the cost approach, the market approach and the income approach.” – Doug LaneyReporting on Data Value [20:00 – 22:07] “If data was a balance sheet asset, I think it would help some organizations and hurt others...there are certain things that you want to keep proprietary and out of the prying eyes of investors and competitors...If you could report on the value of your data, it might augment the evaluation of your company…Data is not a balance sheet asset according to accounting standards.” – Doug LaneyAbout Doug Laney Doug Laney is a best-selling author and recognized authority on data and analytics strategy. He advises senior IT, business and data leaders on data monetization and valuation, data management and governance, external data strategies, analytics best practices and establishing data and analytics organizations. EPISODE LINKS & RESOURCES: Follow Doug on LinkedInDoug's Published Works:Infonomics: How to Monetize, Manage, and Measure Information for Competitive AdvantageData Juice: 101 Real-World Stories of How Organizations Are Squeezing Value From Available Data Assets

Watch this episode on YouTube: https://youtu.be/3pBzWmdluy0 This Week's Guest is Best-Selling Data Author, Professor, and Consultant, Doug Laney Douglas Laney is the data & analytics strategy innovation fellow with the consultancy, West Monroe. Formerly he was a vice president and distinguished analyst with Gartner's Chief Data Officer (CDO) research and advisory practice. He is an accomplished […]

Doug Laney is the Data & Analytics Strategy Innovation Fellow at West Monroe Partners. He consults to business, data, and analytics leaders on conceiving and implementing new data-driven value streams. He originated the field of infonomics and authored the best-selling book Infonomics. He is a three-time Gartner annual thought leadership award recipient, a World Economic Forum advisor, a Forbes contributing author, and co-chairs the annual MIT Chief Data Officer Symposium. He also is a visiting professor at the University of Illinois and Carnegie Mellon business schools, and sits on various high-tech company advisory boards.In this episode, we cover a range of topics including:- Infonomics - His latest book Data Juice - Quantifying data's economic value - Applying asset management principles to data management - Data monetization patterns - Collateralizing data - Underwriting and insuring the data asset - Testing ideas for feasibility - How to price data products 

Our guest this episode is Doug Laney, Data & Analytics Innovation Fellow at West Monroe and author of "Infonomics: How to Monetize, Manage, and Measure Information as an Asset for Competitive Advantage". Doug discusses why "Data Diligence" should be added to your ever-growing list of diligences and opportunities for monetizing the data that exists within your organization. Links: + Doug Laney: https://www.linkedin.com/in/douglaney/ + Infonomics: https://www.amazon.com/gp/product/B075QM8P2T

In Episode 8 of Season 2 on Driven by Data: The Podcast, Kyle Winterbottom is joined by Doug Laney, Data and Analytics Innovation Fellow at West Monroe and renowned Author of Infonomics, where they talk about driving the value of a business through monetizing their data, which includes: Doug Laney's journey including his previous work experience and his work now at West Monroe An insight into the value businesses can drive from data and being data fluent The influence of 9/11 on how businesses viewed their continuity plans and whole system resilience towards data The first steps a business should take to monetize their data and the level of investment it will take The benefits of data monetization and do the benefits outweigh the costs? What do the next 5 years have in store for the renowned Doug Laney!

Data is an intangible asset with unique economic properties. What are some of the strategies we can use to monetise it? Follow me as I unpack this with Doug Laney, author of "Infonomics: How to Monetize, Manage, and Measure Information as an Asset for Competitive Advantage". Learn more at https://www.discoveringdata.com/ (https://www.discoveringdata.com)

If data, and information more broadly, is a company's most important asset, then why is it so often treated with less respect than office furniture? It's in various states of disarray, often unaccounted for, and employees bring it home against corporate policy. This week, we're joined by Doug Laney, author of the best-selling book, "Infonomics: How to Monetize, Manage, and Measure Information as an Asset for Competitive Advantage.” We'll talk about taking better care of your data, so it can take better care of you. This episode will feature: Tips for how to truly measure the value of all your information assets Steps for getting your information house in order Is data the new oil, bacon, gold, oxygen, currency, or sand?

Doug Laney is a best-selling author and recognized authority on data and analytics strategy. He advises senior IT, business and data leaders on data monetization and valuation, data management and governance, external data strategies, analytics best practices, and establishing data and analytics organizations. Doug's book, Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage, was selected by CIO Magazine as the “Must-Read Book of the Year” and a “Top 5 Books for Business Leaders and Tech Innovators.” Now the Data & Analytics Strategy Innovation Fellow with the consulting firm West Monroe, previously Doug was a Distinguished Analyst with Gartner's Chief Data Officer research and advisory team and was a three-time Gartner annual thought leadership award recipient. In addition, he launched and managed the Deloitte Analytics Institute, is a Forbes contributing writer and has been published in the Wall Street Journal and the Financial Times among other journals. Doug has guest-lectured at major business schools around the world and is a visiting professor with the University of Illinois Gies College of Business where he teaches Infonomics and Business Analytics Executive Overview courses, which also are available online via Coursera. He also co-chairs the annual MIT CDO/IQ Symposium, is a visiting professor at Carnegie Mellon University's Heinz College, is a member of the World Economic Forum's data exchange initiative, and sits on various technology company advisory boards. Follow and connect with Doug via Twitter @Doug_Laney and LinkedIn. #infonomics

This week on Data Leadership Lessons, we welcome Doug Laney, the author of the best-selling book, “Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage.” This is a fascinating episode for executives and data nerds alike! Enjoy! Watch this episode on YouTube: https://youtu.be/km8E5DCBexI Your next business card will be a YouTube channel! – Learn more at https://algmin.com Save 20% on your first order at the DATAVERSITY Training Center with promo code “AlgminDL” – https://training.dataversity.net/?utm_source=algmindl_res About Doug Laney: Douglas Laney is the data & analytics strategy innovation fellow with the consultancy, West Monroe. Formerly he was a vice president and distinguished analyst with Gartner’s Chief Data Officer (CDO) research and advisory practice. He is an accomplished practitioner and recognized authority on data and analytics strategy, and is a three-time recipient of Gartner’s annual Thought Leadership Award, and is regularly considered one of the top global influencers these topics. Mr. Laney specializes in and assists organizations with data monetization and valuation, open and syndicated data, data governance, and big-data based innovation. In 2001 he coined the “3Vs” of volume, velocity and variety, now commonly used in defining Big Data. Nearly two decades ago, Mr. Laney originated the field of Infonomics, developing methods to quantify information’s economic value and apply asset management practices to information assets. He authored the book “Infonomics: Monetizing, Managing and Measuring Information as a Competitive Advantage,” and lectures at leading business schools on the topic. In addition to his dozens of Gartner research publications and blogs, Mr. Laney is a contributing author with Forbes and Information Management Magazine, and has been published in the Wall Street Journal and the Financial Times. He also edited and co-authored Forbes’ e-book on Big Data. Prior to rejoining Gartner, Mr. Laney helped form and lead the Deloitte Analytics Institute, a global initiative to grow Deloitte’s multi-billion-dollar analytics business through marketing, social media, thought leadership, internal education, sales support, and recruiting. Today, Mr. Laney is also a visiting professor at the University of Illinois Gies School of Business and the Carnegie Mellon Heinz College of Business where he teaches graduate-level courses on analytics and infonomics, also available via Coursera. Doug Laney at West Monroe – https://www.westmonroe.com/our-team/doug-laney Infonomics Book – https://www.amazon.com/Infonomics-Monetize-Information-Competitive-Advantage/dp/1138090387 Episode Transcript 100:00:00,329 –> 00:00:03,769anthony_algmin: Shoot, thirty five, forty five minutes. Um, yeah, I think you do everything. 200:00:03,829 –> 00:00:04,829anthony_algmin: and uh, 300:00:06,249 –> 00:00:09,289anthony_algmin: we will just take it from there. All right. Any other questions before we 400:00:09,309 –> 00:00:10,309anthony_algmin: kicked us off A real. 5

This week on Data Leadership Lessons, we welcome Doug Laney, the author of the best-selling book, “Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage.” This is a fascinating episode for executives and data nerds alike! Enjoy! Watch this episode on YouTube: https://youtu.be/km8E5DCBexI Your next business card will be a YouTube channel! – […]

As we wrap up Season 2 of the Data Chief Podcast, It's time to once again thank all of our listeners for tuning in and sending Cindi your ideas, and to all of our awesome guests who willingly shared their time and insights along the way.  This season The Data Chief shared stories such as Sol Rashidi, CAO Estèe Lauder Companies, about how she starts every day by reading for an hour.  Or from Season one, Alberto Rey Villaverdo, Executive Director of Advanced Analytics at VirginMedia, about how he reads an hour or more every single day. It's those stories that have inspired this special end-of-season episode.In this podcast, Cindi is joined by four distinct authors with must-read books, two new that are new to bookshelves, and two that are time-tested. Be sure to check out the companion blog on thedatachief.com for other books Cindi recommends as well.In this episode you'll hear from Randy Bean, author of Fail Fast, Learn Faster.John Thompson on Building Analytics TeamsCole Knussbaumer Knaflic on Storytelling with DataDoug Laney on Infonomics: How to Monetize, Manage, and Measure Information as an Asset for Competitive AdvantageKey TakeawaysFrom Randy Bean, Developing a data culture is an ongoing process: Becoming data-driven or developing a data culture is not a destination, it's an ongoing process that never truly ends. In fact, the most sophisticated data companies are often the most worried about how they're doing. This mindset of continued iteration and improvement is what fuels innovation. When you feel like you have it all figured out, think again.From John Thompson, When building an analytics team, hybrid models deliver the best of both worlds: Although more complex than other organizational models, hybrid data teams allow you to meet the needs of your business in a faster, more scalable, and more effective way. How? At any given time, high-volume data professionals will be focused on repetitive tasks like data acquisition, data integration, feature engineering, modeling, and feeding data objects up the chain, while artisanal data scientists directly interface with the subject matter experts embedded across various lines of business. From Cole Knussbaumer Knaflic, Shape data stories with your audience in mind: When presenting data, it's important to understand who your audience is. What do they care about? How will this information impact them? What action should they take after receiving it? Tailoring your data story to them and building a narrative arc that takes them along for the journey is key to creating the kinds of a-ha moments that stick.From Doug Laney, Data monetization requires innovative thinking: For many organizations, the value of their data outweighs the value of the rest of their business. Instead of focusing on the limitations of regulations like GDPR or HIPPA when going to monetize it, try to think outside the box. Can your data help you develop a new product or service? Can it forge a partner relationship? Can you sell a derivative of it? The possibilities are limitless.--The Data Chief is presented by our friends at ThoughtSpot. Searching through your company's data for insights doesn't have to be complicated. With ThoughtSpot, anyone in your organization can easily answer their own data questions, find the facts, and make better, faster decisions. Learn more at thoughtspot.com. 

Doug Laney is the preeminent expert in the field of infonomics — and it's not just because he literally wrote the book on it.    As the Data & Analytics Strategy Innovation Fellow at consulting firm West Monroe, Doug helps businesses use infonomics to measure the economic value of their data and monetize it. He also is a visiting professor at the University of Illinois at Urbana-Champaign where he teaches classes on analytics and infonomics.    On this episode of Experiencing Data, Doug and I talk about his book Infonomics, the many different ways that businesses can monetize data, the role of creativity and product management in producing innovative data products, and the ever-evolving role of the Chief Data Officer.   In our chat, we covered:    Why Doug's book Infonomics argues that measuring data for its value potential is key to effectively managing and monetizing it. (2:21) A 'regenerative asset': Innovative methods for deploying and monetizing data — and the differences between direct, indirect, and inverted data monetization. (5:10) The responsibilities of a Chief Data Officer (CDO) — and how taking a product management approach to data can generate additional value. (13:28) Why Doug believes that a 'lack of vision and leadership' is partly behind organizational hesitancy of data monetization efforts. (17:10) ‘A pretty unique skill': The importance of bringing in people with experience creating and marketing data products when monetizing data. (19:10) Insurance and torrenting: Creative ways companies have leveraged their data to generate additional value. (24:27) Ethical data monetization: Why Doug believes consumers must receive a benefit when organizations leverage their data for profit. (27:14) The data monetization workshops Doug runs for businesses looking to generate new value streams from its data. (29:42) Quotes from Today's Episode “Many organizations [endure] a vicious cycle of not measuring [their data], and therefore not managing, and therefore not monetizing their data as well as they can. The idea behind my book Infonomics is, flip that. I'll just start with measuring your data, understanding what you have, its quality characteristics, and its value potential. But vision is important as well, and so that's where we start with monetization, and thinking more broadly about the ways to generate measurable economic benefits from data.” - Doug (4:13)   “A lot of people will compare data to oil and say that ‘Data is the new oil.' But you can only use a drop of oil one way at a time. When you consume a drop of oil, it creates heat and energy and pollution, and when you use a drop of oil, it doesn't generate more oil. Data is very different. It has unique economic qualities that economists would call a non-rivalrous, non-depleting, and regenerative asset.” - Doug (7:52)   “The Chief Data Officer (CDO) role has come on strong in organizations that really want to manage their data as an actual asset, ensure that it is accounted for as generating value and is being managed and controlled effectively. Most CDOs play both offense and defense in controlling and governing data on one side and in enabling it on the other side to drive more business value.”- Doug (14:17)   “The more successful teams that I read about and I see tend to be of a mixed skill set, they're cross-functional; there's a space for creativity and learning, there's a concept of experimentation that's happening there.” - Brian (19:10)   “Companies that become more data-driven have a market-to-book value that's nearly two times higher than the market average. And companies that make the bulk of their revenue by selling data products or derivative data have a market-to-book value that's nearly three times the market average. So, there's a really compelling reason to do this. It's just that not a lot of executives are really comfortable with it. Data continues to be something that's really amorphous and they don't really have their heads around.” - Doug (21:38)   “There's got to be a benefit to the consumer in the way that you use their data. And that benefit has to be clear, and defined, and ideally measured for them, that we're able to reduce the price of this product that you use because we're able to share your data, even if it's anonymously; this reduces the price of your product.” - Doug (28:24)   Links referenced Infonomics: https://www.amazon.com/Infonomics-Monetize-Information-Competitive-Advantage/dp/1138090387 Email: dlaney@westmonroe.com LinkedIn: https://www.linkedin.com/in/douglaney/ Westmonroe.com: https://westmonroe.com Coursera: https://www.coursera.org/instructor/dblaney

In my 23rd episode I speak to author Doug Laney! We talk about: 1) What he's up to now 2) What is data due diligence and how it's helping Private Equity firms 3) Separating the I & T from IT 4) How Delta airlines valued their data during the pandemic to secure loans 5) Why the accountants have ignored the value of data on the balance sheet 6) Steps companies need to take from being reactive to having proactive mindsets around data 7) The difference between data and oil - it's not the new oil! 7) Why data monetisation needs to be introverted an thought about differently to generate economic value 8) Industries leading the way in monetisation 9) The approach to getting the most value out of data 10) Who should drive data monetisation 11) Trend based vs. driver based models 12) His new book About Doug: Douglas Laney is the data & analytics strategy innovation fellow with the consultancy, West Monroe. Formerly he was a vice president and distinguished analyst with Gartner's Chief Data Officer (CDO) research and advisory practice. He is an accomplished practitioner and recognized authority on data and analytics strategy, and is a three-time recipient of Gartner's annual Thought Leadership Award, and is regularly considered one of the top global influencers these topics. Mr. Laney specializes in and assists organizations with data monetization and valuation, open and syndicated data, data governance, and big-data based innovation. In 2001 he coined the "3Vs" of volume, velocity and variety, now commonly used in defining Big Data. He authored the book "Infonomics: Monetizing, Managing and Measuring Information as a Competitive Advantage," and lectures at leading business schools on the topic. Mr. Laney resides in Chicago with his wife and son, where he enjoys Cubs games, biking the lakefront, cooking, theatre, competitive tennis and not-very-competitive golf. About Samir Samir is a data strategy and analytics leader, CEO and Founder of datazuum. He has a history of helping data executives and leaders craft and execute their data strategies. His passion for data strategy led him to launch the Data Accelerator Workshop, and host the Data Strategy Show. After a career in both private and public sectors Samir launched the datazuum brand in 2012, with a view to working with executives to deliver data strategy at a time when data was not seen as a business asset. Today datazuum delivers projects across both private and public sectors including: Charities, Financial Services (Banking & Insurance), Government, Housing & Construction, Law Enforcement, Logistics, Media & Publishing, Outsourcing, Postal, Retail, Telecoms, Transport and Utilities. Samir has 20 years of international experience across Europe, North America, and Africa. Is a regular speaker at international conferences, coach / mentor, a charity fundraiser, and youth champion for Working Knowledge - supporting young people to achieve their personal and career goals in life. Samir lives in London with his wife and daughter. Contact: samir@datazuum.com

It has become a cliche to say data is an asset. If an organization is not making an attempt to measure, manage, and monetize, information can't be an asset. Doug Laney is one of the foremost thought leaders who has been espousing Infonomics and the need for organizations to monetize their data. Doug was also the leader who came up with 3 Vs to describe Big Data and the one who came up with 4 types of analytics namely Descriptive, Diagnostic, Predictive, and Prescriptive. Doug's assertion is that leading organizations focus on reaping the benefits by implementing the last 3 types of analytics. To enable any type of analytics though, leaders in organizations have to ensure that data literacy and data culture are pervasive.

Doug Laney is one the leading data personalities today, and works in a number of roles including consulting and education.

Infonomics author Doug Laney joins me for a chat about strategy, tools, gamification, virtual conferences, and enterprise tech. We also peer into the future. What do conferences look like in two years? We also talk about Miro and Virbela.Support the show

https://www.engati.com/ Engati is the world's leading no-code, multi-lingual chatbot platform. https://open.spotify.com/show/3G0uQwPnQib22emRi9VhUg Blog link: https://blog.engati.com/ | Subscribe now. Doug Laney, Principal, Data and Analytic strategy, Caserta talks about the 3 V's of data innovation on Engati CX. He says that data is an important asset for a company. He also mentions that after analysing the data companies can improve their processes, target the relevant markets, understand them, look for new product opportunities. If you like the video, please subscribe to the channel, so we could keep producing more content like this! Follow us on Facebook: http://s.engati.com/157 LinkedIn: http://s.engati.com/158 Twitter: http://s.engati.com/156 Instagram: https://www.instagram.com/getengati/ https://www.engati.com/glossary/conversation-as-a-service https://www.engati.com/glossary/human-computer-interaction https://www.engati.com/glossary/speech-to-text-translation https://www.engati.com/glossary/business-process-improvement https://www.engati.com/glossary/cpaas https://www.engati.com/glossary/interoperability https://www.engati.com/glossary/scripting-language https://www.engati.com/glossary/inbound-call-centre #DougLaney #EngatiCX #DataInnovation

Today's guest is Doug Laney, Principal of Data & Analytics strategy at Caserta. Doug is an experienced thought leader, consultant, advisor, author, speaker and instructor on data and analytics strategy topics. He is the originator of the field of Infonomics and author of the best-selling book, "Infonomics: How to Monetize, Manage, and Measure Information for Competitive Advantage." He currently helps leading organizations conceive, architect and implements ways to innovate with their available data to drive increased business value from them at Caserta. Doug consults to chief data officers and other data/analytics leaders on best practices for managing, monetizing and measuring their information assets. In the episode, Doug will tell you about: Interesting projects he is working on at Caserta, Common trends they are helping organisations embrace within Data & Analytics, Key learnings from his best-selling book Infonomics, What he enjoys about working within Consulting, Advice to those looking to make the move into Data & Analytics, and Key skills needed for a successful career in Data Science