VIDEO | Eminent Data Consultant: Consider Customer Needs When Innovating

(US and Canada) Prominent data consultant Meethun Panda speaks with Kellie de Leon, Senior Director of Marketing at Treasure Data, in a video interview about trending areas in data innovation, balancing innovation and efficiency, navigating innovation challenges, and driving value to end customers.

Panda states that data innovation will continue in AI and ML, with increasingly sophisticated models and more widespread adoption of AI-powered solutions. He adds that generative AI use cases have pushed boundaries even further, while the area of data intelligence services like data access, integration, and sharing is also due for continued improvement. He suggests organizations stay up-to-date to ensure data governance maturity.

In addition, Panda urges data leaders and executives to embrace these innovations and leverage cutting-edge technologies for faster implementation of various use cases. This could mean adopting AI and ML services, multicloud strategies, modernized data architecture to facilitate data lifecycle management, an agile team, and a platform conducive to experimentation.

When asked how to balance innovation and efficiency, he states that this is where the C-Suite comes in. He recommends that C-Suite pay close attention to customer wants and needs and invest in innovations to benefit both the customer and the organization.

Panda believes technology leaders play a critical role in creating a culture of experimentation to facilitate creativity. He maintains that setting up the right platform and cultivating a culture that supports goals will reap the most value in the long term.

Next, Panda speaks about navigating innovation challenges. He states that when it comes to large companies, it is difficult to implement changes because they have developed their own unique culture over a long period. To be successful in that scenario, technology leaders must strive to foster a culture of innovation, encouraging experimentation and refraining from criticizing failures. Ultimately, no matter how small or large, one must work to adopt innovation to remain competitive in the market, he notes.

Moving forward, Panda suggests that organizations consider the needs of their customers when innovating. He says that while understanding customer needs, one must consider several dimensions like quality, value, convenience, personalization, and environmental sustainability of products.

Organizations should reach out to customers early in the digital transformation journey and collect their input to roll out products and services that meet these needs, asserts Panda. Doing so reduces the risk of the product underperforming, and gives organizations a competitive edge. In conclusion, he emphasizes the need for tech innovations since these will enable organizations to deliver more value to their customers.

CDO Magazine appreciates Meethun Panda for sharing his insights and transformation experiences with our global community.

See more from Meethun Panda 

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Transformation Is An Incremental Journey

Feeding Correct Data Will Enable AI Use Cases Faster