Heidi Lanford, Former Chief Data Officer of Fitch Group, Inc. speaks with Amy Horowitz, VP of Data Governance Solution Sales at Informatica, in a video interview about embracing AI in data management space, measuring data and analytics value, the need for a C-Suite level dashboard, and tips for value delivery.
Lanford begins by stating that embracing AI in the data management space is a fantastic opportunity. She further states that data management transformations are challenging projects for enterprises.
Given the complicated nature of work, AI can be seen as a human extension in terms of assistance, says Lanford. It can populate a data dictionary or help benchmark data quality metrics, she adds.
Getting AI and generative AI embedded in implementation work and software products speeds up implementation and only has an upside to it.
When asked about measuring the value of data and analytics, Lanford asserts it to be the tip of the iceberg of a cultural topic, and organizations still have a long way to go. She stresses that the needle does not move if an organization has multiple dashboards to look at. It moves when people change how they are using and working with data in their organization.
According to Lanford, a data organization must have a C-suite-level dashboard that brings together monthly sales, financial numbers, and HR metrics. Additionally, the dashboard should also provide different leading and lagging indicators that aid the senior management team in comprehending what must be done in the next thirty days to two years.
In a data organization, a CDO is primed to sponsor and lead that effort with a cross-functional team. Next, Lanford lists three tips that aid in value delivery:
Data literacy program sponsorship and implementation
Communications and strategy component
Having stakeholders and peers tell the impact of data
Moving forward, Lanford believes that a data literacy program is not just a wave but a core business skill. Elaborating further, she maintains that there is a need for people who are well-versed in data assimilation and use it contextually to make an informed decision.
It also helps to get over the gut feel and intuition aspect, says Lanford. It boils down to the dialogue on what a data organization has done or is doing, to what the company needs from data and AI to change, and then to fill in the blank.
Moving forward, Lanford states that companies are getting better at integrating this with academic programs. She adds that gamification is another way to make it fun, but the most important aspect is to rethink how the business peers are being educated.
CDO magazine appreciates Heidi Lanford for sharing her data insights with our global community.
