Re-Architecting Data + AI Teams for Success
Are Your Data & Analytics Teams Evolving to Stay Relevant in the Business World?
It's not a one-size-fits-all solution, but here's a crucial fact: Data & Analytics teams need to adapt and even pivot to remain strategically valuable to companies and organizations. Sounds challenging, right?
According to a recent article in Harvard Business Review, along with research by Gartner, the average tenure of a Chief Data Officer is only 2 to 2.5 years. And it seems that trend hasn't changed much. The research suggests various reasons for this, such as large-scale transformations taking multiple years, high expectations versus slow value delivery, organizational chart challenges, and more.
While some of these factors may be beyond immediate control, there are ways to take charge of your own destiny within an organization. Drawing from my own experience, I'll share some insights on building successful Data & AI teams and making them thrive alongside the organization.
Understand the Business Model: Grasp how your organization generates revenue and identify how Data & Analytics can contribute to both the top and bottom lines. Make sure you connect potential use cases to the desired outcomes and quantify their return on investment. Don't forget to showcase successful cases to gain further support and drive momentum within the organization.
Understand Business Readiness & Value Creation Opportunities: Each organization and its functions are at different stages of maturity regarding Data & Analytics. Take a consultative approach to tailor a strategy that unlocks value across the enterprise. Adapt to pursue both quick-wins and long-term strategic goals. Recognize the limitations and opportunities within the organization, and collaborate with stakeholders to align the D&A roadmap with their needs and expectations.
Understand the Team the Organization Needs: To make a real impact, establish an effective engagement model for your team. Optimize and streamline core tasks so you can dedicate more resources to new and impactful use cases. Recognize the symbiotic relationship between data and analytics. You can't achieve true customer personalization without a unified view of your customers, including privacy and consent management.
By following these guidelines, you can navigate the ever-evolving landscape of Data & Analytics and position yourself and your team for success. Don't leave anyone in the dark—strive for strategic alignment, clear communication, and collaboration throughout the organization.
When functional teams are integrated and blended together, they can have a greater impact on the organization. On the other hand, organizations with separate, disconnected teams working on individual activities will struggle to deliver and compete.
In the world of technology, disruption is always present and its pace is increasing. This is particularly true with low/no-code ML/AI platforms and Gen AI. However, the teams that excel in applying a wide range of tech capabilities and data to solve important challenges for the organization will have a competitive advantage and high demand.
About the Author: Frederique De Letter is the Senior Director Business Insights & Analytics at Keller Williams Realty and a frequent speaker & panelist @ CDO events including IQPC CDAO, Corinium Global Intelligence etc.