Highlights from our recent Round-table of Philadelphia Executive’s on Data Analytics

Highlights from our recent Round-table of Philadelphia Executive’s on Data Analytics

Thank you to all Technology Executives attendees, our co-sponsor Snowflake, and Alex Chang (The Whiskey Steward) for another great event!  The recurring theme was that this is an exciting time for Data & Analytics projects and the resulting “move-the-needle” opportunities to increase both top and bottom lines, as well as establish competitive advantages.

Integress May 9 2019 Data & Analytics Roundtable

Our conversations covered three topics (and a little Whiskey): 1) the criticality of aligning Data & Analytics projects to business outcomes; 2) how to accelerate these projects from both the business  and technical perspectives; and 3) key takeaways from a Cloud Data Architecture that supports Data Analytics, Data Sharing and Business Intelligence projects.

Some of the key takeaways where:

1.      We are in the technological equivalent of a “perfect storm” – high Cloud adoption, advancements in AI, and new technical capabilities previously only accessible to Fortune 50 companies that are enabling quick iterations and high rewards. Companies invested $3B in Data & Analytics projects two years ago. It is projected that by 2025, this investment will approach $90B, or a 50% CAGR. On the return-side, PwC recently estimated a $16T global GDP effect of this spending.  It’s hard not to get excited about those potential returns.

2.      Every data project should leverage a “Value Delivery Method”, something the business actually understands and cares about – Business Intelligence, Customer/Partner Data Sharing, or Advanced Analytics/AI/ML. These methods need to be supported by a Foundational Cloud Data Architecture with scalable compute and cost-effective storage. For the foundational part, Snowflake demonstrated their “Born-in-the-Cloud” Data Warehouse as being a key building block that helps companies accelerate time to market with unique features, a scalable architecture and TCO-efficient pricing.

3.      The #1 challenge with achieving success is a misalignment of outcomes and business goals. By aligning to a strategic corporate goal of improved performance/profit, increased revenue, competitive advantages, and/or sustained customer value, business sponsors more easily become excited and engaged, leading to much higher success rates. Success is then equal parts business and technology starting with: a) getting a great Business-sponsor to help the organization adjust and make the outcomes actionable; b) bifurcating IT budgets between investments in data/AI and expenses to be managed; and c) starting small and iterating quickly.

4.      Be cautious of the “lift-and-shift” data architecture, tools and platforms. Many of the newer technologies, such as Snowflake (Data Warehouse) and Looker (BI), are born-in-the-cloud and not migrations from legacy, on-prem solutions.  The advantage is that Cloud-native solutions are less complex by having few, if any “work-arounds” required to be effective, leverage the “infinitely” scalable compute power in the Cloud, and greatly accelerate “Value Delivery” (aka realizing value from your data assets).

Please message us if you would like to be notified about our next Round-table.

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