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1、Unveiling the Business Value of Data ProductsA Paradigm Shift in Data UtilizationKevin BohanDirector of Product Marketing2Yet,many are slow to make the progress we desire.Becoming Data-Driven is a Top Priority in Most Organizations of organizations characterize themselves as data-driven24%say that t
2、hey have developed a data culture within their organizations21%Source:NewVantage Partners-Data and Analytics Leadership Annual Executive Survey 2023The 11th annual NewVantage Partners survey of CDOs and CDAOs of 116 Fortune 1000 companies.3While many areas are unsurprised,the interest in data produc
3、ts is surprising.Where Are These Organizations InvestingSource:NewVantage Partners-Data and Analytics Leadership Annual Executive Survey 2023According to McKinsey&Company-30%reduction in total cost of ownership with a data product approach.4Users need to be empowered to leverage data if you are ever
4、 going to be a data-driven organization Why Are Data Products Getting Investment?There Is a Disconnect Between the Services Provided and What Users Needof users fully confident in their data literacy skills21%of firms reported they trusted“their data enough to use it effectively and derive value fro
5、m it.”33%Source:Forbes-10 Reasons Why Your Organization Still Isnt Data-Driven5Some products are universally understood and require little explanationWhat is a Product?6The contents alone do not build trust What type of pills are these?What is their intended use?Can I trust the ingredients?Where did
6、 they come from?How old are they?Etc.Manufacturers focus a lot on the experience and building trust in the product and brand.However,Most Product Require Packaging The product is more than just the content inside You have the description of the products You understand the intended use You have detai