Posted on : August 27, 2016
Views : 74
Category : Startup
Michael Gardner, Managing Director, BNY Mellon Innovation Center, Silicon Valley, discusses How to lay down your plans for growth (alignment, clarity and performance management systems).
- Because data has become the fourth pillar of value creation (in addition to land, labor and capital), there are various ways that the data can drive value (monetization of data etc.) however Michael focuses on operationalization of data and data-aligned business models.
- Digital business are ones where data becomes a key differentiator (behavioral economics etc.). Data enables evidence-based management which leads to alignment, clarity of objectives, product feedback loops and performance). Therefore, firms should instrument their businesses now! Think about key operational metrics, logging key events (and processes to do so) and using logs to build operational baseline.