“Don’t start with a big data project. Start with your top three business problems.”
The team at Elementum are experts at turning business data into business outcomes. Join co-founder and COO David Blonski as we talk about leveraging data to make your business operations run faster, smarter, and cheaper.
Key takeaways
Elementum’s mission is to be a data-powered execution engine for the modern enterprise.
David emphasized the critical importance of 'execution' in being truly data-driven. Many businesses claim to be data-driven, but only a small fraction actually utilize data to execute their business processes effectively.
Data can save costs while improving operational efficiency and customer satisfaction. David shared real-world examples of how companies can dynamically manage software licenses, predict project needs, and even automate healthcare claim approvals using data.
The key to effectively leveraging data is to start with a significant business problem. By focusing on a “top three” business priority, teams can identify the specific data they need and put it to work solving that problem.
Start with problems requiring minimal change management. It’s easier to gain initial traction and buy-in when you begin with processes that don’t place a greater burden on employees.
Not all problems need sophisticated AI/ML solutions. Basic automation and simple heuristics can effectively solve many issues. The goal should be to start small, gain early successes, and then gradually introduce more advanced technologies.
Successful data leaders are those who become change agents within their organizations. The role of Chief Data Officers (CDOs) has evolved, as today’s CDOs are expected to drive business value, not just govern and aggregate data.
Find a good partner who understands that data is an asset. Bringing institutional knowledge together with the right external expertise can significantly enhance data initiatives.
David defines innovation as risk-taking with the opportunity for outsized reward. This mindset can drive significant advancements within organizations willing to take calculated risks.
Our Innovators at Work series shares practical advice for putting innovation into action for your team. What kind of innovator are you? Take the assessment.
