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Economic Value of Data | @ExpoDX #IoT #IIoT #BigData #FinTech #DigitalTransformation

It isn’t the data that’s valuable; it’s the relationships and patterns (insights) gleaned from the data that are valuable

Since releasing the University of San Francisco research paper on “How to Determine the Economic Value of Your Data” (EvD), I have had numerous conversations with senior executives about the business and technology ramifications of EvD. Now with the release of Doug Laney’s “Infonomics” book that builds upon Doug’s EvD work at Gartner, I expect these conversations to intensify. In fact, I just traveled to Switzerland to discuss the potential business and technology ramifications of EvD with the management team of a leading European Telecommunications company.

From these conversations, I am starting to form some “theorems” to guide organizations regarding how EvD could impact their business and technology investments. A theorem is defined as “a general proposition not self-evident but proved by a chain of reasoning; a truth established by means of accepted truths.” Well, it might be a stretch to call these “theorems” at this point, but I hope over the next several months to turn these “observations” into “theorems.”

Also, I fully expect the number of theorems to grow as the EvD concepts mature, especially as organizations look for data and analytics to the fuel their digital transformation initiatives.

Economic Value of Data Theorem #1:
It isn’t the data that’s valuable; it’s the relationships and patterns (insights) gleaned from the data that are valuable.

We highlight the difference between monetizing data versus monetizing insights when we discuss the Big Data Business Model Maturity Index (see Figure 1).

Figure 1: Insights Monetization Phase of Big Data Business Model Maturity Index

Phase 4 of the Big Data Business Model Maturity Index is the “Monetization” phase. However, organizations should not focus on the monetization of their data, especially selling their data. Selling data is a business model decision, not a business transaction. And there are significant liabilities that await an organization that moves into the business of selling data (see Equifax…).

Instead, organizations should focus upon the monetization of the insights derived from the data. The monetization value isn’t in the data; the monetization value is in the unique customer, product, service, operational and market insights that are gleaned from the data. It is from these insights that organizations will be able to identify new services, new products, new customers, new markets, new audiences, new channels and new partnerships.

Economic Value of Data Theorem #2:
It is from the quantification of the relationships and patterns that we can make predictions about what is likely to happen.

It is the quantification of the relationships and patterns around customers, products, services, operations and markets that drive operational, management and strategic predictions. And it is the value of these predictions (in support of business use cases) that ultimately determines the economic value of your data. We want to quantify the relationships, patterns, propensities, tendencies, biases, preferences, associations and affiliations at the level of the individual customer, product, service, operational process and markets (see Figure 2).

Figure 2: Uncovering Relationships and Patterns in the Data

From these detailed insights, organizations can make predictions about their customers, products, services, operations and markets: what products and services customers are likely to buy, when customers will likely have a life stage change, what products are likely in need of servicing or retirement, what operations are likely candidates for operational optimization, what markets are likely ripe for new products or services, etc.

These predictions, though never 100% accurate, give organizations an “edge” in their operations, management and strategic decisions and use cases. For example, having better predictions about which customers are likely to attrite and the predicted lifetime value of those customers gives you an edge over the competition. It may not be much, but sometimes it is the smallest of edges that can separate the winners from the losers.

Economic Value of Data Theorem #3
Predictions drive monetization opportunities through improved (optimized) strategic and operational use cases.

It is application of predictions against business use cases (i.e., clusters of decisions) that determines the economic value of the data. For example, it is neither sufficient nor actionable to know that there is an increase in head injuries, lacerations and broken bones during and immediately after a local professional football game. That’s interesting, but not actionable.

Figure 3: Patriots vs Falcons Game Prediction

However, if you can predict a 37% increase in head injuries, lacerations and broken bones during and immediately after the professional football game, then that is actionable! With that prediction, I can now make recommendations (prescriptive analytics) about extra nurses, doctors and supplies one might need at the hospitals nearest the stadium.

The Future of Economic Value of Data Theorems
I can see the potential for more theorems as the EVD discussions mature. I can see, for example, a theorem on “variable predictability” and its importance in attributing financial value to the appropriate data sources.

We will continue to explore, test, fail and learn as we seek to perfect the methodology and formulas that can help organizations determine economic value of their data sources. I believe that this will become a business mandate as organizations look for a management framework to help them optimize the business and technology investments that are driving digital transformations.

The post 3 Theorems on the Economic Value of Data appeared first on InFocus Blog | Dell EMC Services.


DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the conference tracks for CloudEXPO | DXWorldEXPO 2018 New York.

DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City.

Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.

A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throughout enterprises of all sizes.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

2018 Conference Agenda, Keynotes and 10 Conference Tracks

DXWordEXPO New York 2018 and Cloud Expo New York 2018 agenda present 222 rockstar faculty members, 200 sessions and 22 keynotes and general sessions in 10 distinct conference tracks.

  • Cloud-Native | Serverless
  • DevOpsSummit
  • FinTechEXPO - New York Blockchain Event
  • CloudEXPO - Enterprise Cloud
  • DXWorldEXPO - Digital Transformation (DX)
  • Smart Cities | IoT | IIoT
  • AI | Machine Learning | Cognitive Computing
  • BigData | Analytics
  • The API Enterprise | Mobility | Security
  • Hot Topics | FinTech | WebRTC

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

DXWorldEXPO | CloudEXPO 2018 New York cover all of these tools, with the most comprehensive program and with 222 rockstar speakers throughout our industry presenting 22 Keynotes and General Sessions, 200 Breakout Sessions along 10 Tracks, as well as our signature Power Panels. Our Expo Floor brings together the world's leading companies throughout the world of Cloud Computing, DevOps, FinTech, Digital Transformation, and all they entail.

As your enterprise creates a vision and strategy that enables you to create your own unique, long-term success, learning about all the technologies involved is essential. Companies today not only form multi-cloud and hybrid cloud architectures, but create them with built-in cognitive capabilities.

Cloud-Native thinking is now the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, as well as the public sector.

CloudEXPO is the world's most influential technology event where Cloud Computing was coined over a decade ago and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals.

FinTech Is Now Part of the DXWorldEXPO | CloudEXPO Program!

Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses.

Accordingly, attendees at the upcoming 22nd CloudEXPO | DXWorldEXPO November 11-13, 2018 in New York City will find fresh new content in two new tracks called:

  • FinTechEXPO
  • New York Blockchain Event

which will incorporate FinTech and Blockchain, as well as machine learning, artificial intelligence and deep learning in these two distinct tracks.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

FinTech brings efficiency as well as the ability to deliver new services and a much improved customer experience throughout the global financial services industry. FinTech is a natural fit with cloud computing, as new services are quickly developed, deployed, and scaled on public, private, and hybrid clouds.

More than US$20 billion in venture capital is being invested in FinTech this year. DXWorldEXPOCloudEXPO are pleased to bring you the latest FinTech developments as an integral part of our program.

DXWorldEXPO | CloudEXPO are accepting speaking submissions for this new track, so please visit Cloud Computing Expo for the latest information or contact us at [email protected]

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

Download Slide Deck ▸ Here

Only DXWorldEXPO | CloudEXPO bring together all this in a single location:

Attend DXWorldEXPO | CloudEXPO. Build your own custom experience. Learn about the world's latest technologies and chart your course to Digital Transformation.

22nd International DXWorldEXPO | CloudEXPO, taking place November 11-13, 2018, in New York City, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

Download Slide Deck: ▸ Here

Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS - software, platform, and infrastructure as a service.

With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.

Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers.

Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)

Sponsorship Opportunities Here

Speaking Opportunities Here

Sponsorship and Speaking Inquiries: [email protected].

Download Slide Deck: ▸ Here

Companies are each developing their unique mix of cloud technologies and services, forming multi-cloud and hybrid cloud architectures and deployments across all major industries. Cloud-driven thinking has become the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, and the public sector.

Sponsorship Opportunities

DXWorldEXPO | CloudEXPO are the single show where technology buyers and vendors can meet to experience and discus cloud computing and all that it entails. Sponsors of DXWorldEXPO | CloudEXPO will benefit from unmatched branding, profile building and lead generation opportunities through:

  • Featured on-site presentation and ongoing on-demand webcast exposure to a captive audience of industry decision-makers.
  • Showcase exhibition during our new extended dedicated expo hours
  • Breakout Session Priority scheduling for Sponsors that have been guaranteed a 35-minute technical session
  • Online advertising on 4,5 million article pages in SYS-CON's i-Technology Publications
  • Capitalize on our Comprehensive Marketing efforts leading up to the show with print mailings, e-newsletters and extensive online media coverage.
  • Unprecedented PR Coverage: Unmatched editorial coverage on Cloud Computing Journal.
  • Tweetup to over 100,000 plus Twitter followers
  • Press releases sent on major wire services to over 500 industry analysts.

Secrets of Our Most Popular Sponsors and Exhibitors ▸ Here

For more information on sponsorship, exhibit, and keynote opportunities, contact [email protected].

Sponsorship Opportunities Here

Download Slide Deck:Here

Speaking Opportunities

The upcoming 22nd International DXWorldEXPO | CloudEXPO November 11-13, 2018 in New York City, NY announces that its Call For Papers for speaking opportunities is now open.

Secrets of Our Most Popular Faculty Members ▸ Here

Submit your speaking proposal Here or by email [email protected].

Download Slide Deck: ▸ Here

About DXWorldEXPO LLC

DXWorldEXPO LLC is a Lighthouse Point, Florida-based trade show company and the creator of DXWorldEXPODigital Transformation Conference & Expo. The company produces and presents CloudEXPO, DevOpsSummitFinTechEXPO Blockchain Event, the world's most influential conferences and trade shows.

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More Stories By William Schmarzo

Bill Schmarzo, author of “Big Data: Understanding How Data Powers Big Business” and “Big Data MBA: Driving Business Strategies with Data Science”, is responsible for setting strategy and defining the Big Data service offerings for Hitachi Vantara as CTO, IoT and Analytics.

Previously, as a CTO within Dell EMC’s 2,000+ person consulting organization, he works with organizations to identify where and how to start their big data journeys. He’s written white papers, is an avid blogger and is a frequent speaker on the use of Big Data and data science to power an organization’s key business initiatives. He is a University of San Francisco School of Management (SOM) Executive Fellow where he teaches the “Big Data MBA” course. Bill also just completed a research paper on “Determining The Economic Value of Data”. Onalytica recently ranked Bill as #4 Big Data Influencer worldwide.

Bill has over three decades of experience in data warehousing, BI and analytics. Bill authored the Vision Workshop methodology that links an organization’s strategic business initiatives with their supporting data and analytic requirements. Bill serves on the City of San Jose’s Technology Innovation Board, and on the faculties of The Data Warehouse Institute and Strata.

Previously, Bill was vice president of Analytics at Yahoo where he was responsible for the development of Yahoo’s Advertiser and Website analytics products, including the delivery of “actionable insights” through a holistic user experience. Before that, Bill oversaw the Analytic Applications business unit at Business Objects, including the development, marketing and sales of their industry-defining analytic applications.

Bill holds a Masters Business Administration from University of Iowa and a Bachelor of Science degree in Mathematics, Computer Science and Business Administration from Coe College.

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