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Exploring investment priority

What is the right balance between improving decisions, operations and monetisation?

As we saw in the video:

  • Mostly “improving decision making” is indicative of the early stages of exploring data value and a good place to start as it helps you identify what data you have, what data you need and how much you trust that data to make decisions.
  • Mostly “Improving operations” is indicative of manufacturing or process intense industries. This is also a good place to start as it forces you to identify what success looks like and what needs to be tracked.
  • Mostly “monetisation of data” is indicative of data-heavy companies, often startups, whose “reason for being” is to drive monetary value from the data they have.

It may be worth you revisiting this at the end of the course to see if your views have changed.

Let’s use the workbooks to bring this alive. Based upon what has been discussed, take a moment to capture some ideas for your opportunities using the Data Value Canvas.

The table from the Data Value Canvas for capturing ideas on improving decision making, improving operations and monetisation.Data Value Canvas (Click to expand)

Again there are no right or wrong ideas at this stage – we will revisit these later in the course.

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Introduction to Data for Business Leaders

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