032: The Economic Value of Data with Bill Schmarzo
Release Date: 11/10/2020
053: Cybersecurity for Industry 4.0: the good, the bad and the ugly, with Rob Dyson
Enterprise Product Leadership
Today we have a fascinating conversation with Rob Dyson, someone with decades of experience in the security space and the current Global OT and IoT Security Services Business Development Leader at IBM! We have a wide-ranging conversation looking at the impacts of cyber security in Industry 4.0 transformations, the main drivers of cyber security risks in manufacturing, why security should never be relegated or de-prioritized, and how companies can go about building a strong culture of cyber security.
info_outline
052: Why Edge and AI hold the key to scaling Industry 4.0 with Jose Favilla
Enterprise Product Leadership
I have a fascinating show for you today that is part of my collaboration with IBM. My guest is Jose Favilla. Jose leads the global Industry 4.0 initiatives for IBM. And with over 30 years of experience in the field, Jose gives us a masterclass on Industry 4.0, including where it started, how it has evolved, where it is today, and where it is going
info_outline
051: Product Innovation and Jobs to Be Done with Tony Ulwick
Enterprise Product Leadership
Today we are joined by the pioneer of the Jobs-to-be-Done (JTBD) theory, the inventor of the Outcome-Driven Innovation (ODI) process, and the founder of Strategyn, Tony Ulwick.
info_outline
050: How to price new B2B products with Mark Stiving
Enterprise Product Leadership
Pricing your products is key to successful products. But what is the best pathway to finding you optimum prices?
info_outline
049: Continuous Discovery Habits with Teresa Torres
Enterprise Product Leadership
Today we are joined by expert discovery coach and prominent thought leader on the topic of product discovery, Teresa Torres!
info_outline
048: Losant's Journey from Idea to Successful Enterprise IoT company with Charlie Key
Enterprise Product Leadership
Today’s guest, Charlie Key, is the Founder and CEO of Losant, a leading development platform for IoT products and services. On this episode, Charlie shares plenty of insights into how Losant has achieved success, including key milestones that have shaped the company, the importance of having a customer-centric approach to innovation, the challenges of building enterprise-grade products, and how Losant has evolved to incorporate technologies like edge computing to better serve their customers.
info_outline
047: Behind the scenes of Workday’s product strategy with Connie DeWitt
Enterprise Product Leadership
Today we get an amazing insider's look at how Workday, one of the most successful enterprise software companies in the world, approach product strategy! To help us in this quest, I am joined by Connie DeWitt, Senior Vice President of Product Strategy Workday.
info_outline
046: How Subscription Models Help You Win, Keep, and Grow Customers with Mark Stiving
Enterprise Product Leadership
Transitioning to a subscription model is not easy but the challenge is worth it because SaaS products provide a host of benefits to both the companies that offer them and the clients they serve. Our guest for today is Mark Stiving, author of Win Keep Grow, and he joins us to share important insights from his book to help us learn the fundamentals of accelerating a subscription business. Mark kicks things off with a story about how he got interested in prices, and then we go on an exploration of the connection between pricing and value. From there, Mark talks about how he began to...
info_outline
045: Why Startups and Big Companies Struggle to Innovate with Steve Blank
Enterprise Product Leadership
The Lean Startup movement is integral to the foundation of modern entrepreneurship. Despite its proven success there are still many businesses, including both startups and established companies, that struggle to apply Lean principles and continue to build products through the waterfall approach. In today’s episode, we are joined by Steve Blank. In addition to being an author, entrepreneur, and professor, he is also widely recognized as an early father of the Lean Startup movement. In our discussion, Steve reflects on the current state of innovation in startups and enterprises and what can be...
info_outline
044: Behind the Scenes of Dolby’s new Cloud platform with Stephane Giraudie
Enterprise Product Leadership
What if developers could incorporate lifelike HD audio and video capability into any application they built so that users did not have to resort to third-party apps to communicate? This is precisely the service provided by Dolby’s new cloud-based audio, voice, and video API platform, Dolby.io. Today we speak to Stephane Giraudi, Senior Director of Cloud Communication at Dolby.io, to get a behind-the-scenes look at the audiovisual technology giant’s disruptive new offering. Stephane was previously the CEO of Voxeet, a company that enabled WebRTC with crystal clear 3D surround sound, audio,...
info_outlineWelcome back to Enterprise Product Leadership! I’m your host, Daniel Elizalde. With a new season, comes new changes — one of which is the title of the podcast! From IoT Product Leadership to Enterprise Product Leadership, the podcast is broadening its scope beyond IoT to focus on the overall challenges facing enterprise and industrial product leaders to drive solutions from idea to first release.
Joining me today as my first guest of this brand new season is Bill Schmarzo, Chief Innovation Officer at Hitachi Vantara. Bill is known as the ‘Dean of Big Data’ for the work he does in academia. He is also the author of three books that advise organizations on where and how to leverage big data and data science to power their business models.
We’ve all heard the phrase, “Data is the new oil,” but what does that really mean? And more importantly, what does it mean for us as product leaders? In this episode, we dive into this topic as well as the concept of the economic value of data. We also get a masterclass on how Bill works with his customers to prioritize opportunities and capitalize on the value of data.
Episode Details: The Economic Value of Data with Bill Schmarzo:
“Data is a unique asset. It never wears out [and] it never depletes. You can use it across an infinite number of use cases at a zero marginal cost [which] makes it the single most asset in the world.” — Bill Schmarzo
About Bill Schmarzo:
Bill Schmarzo is the Chief Innovation Officer at Hitachi Vantara. Bill is known as the ‘Dean of Big Data’ for the work he does in academia. He is recognized as an industry leader in big data, data science, design thinking, and data monetization. He is also the author of several books and has published over 350 industry-leading articles and educational videos on the application of big data and data science.
Topics We Discuss in this Episode:
- Exciting changes to the podcast
- Guest lineup for this season’s upcoming episodes
- Bill Schmarzo’s career background
- About Bill’s current role and focus as Chief Innovation Officer at Hitachi Vantara
- How to get value out of data
- Bill’s customer-centric, value-engineering approach
- Key lessons Bill has learned as a data scientist
- What it really means to empower your frontline
- How design-thinking has helped address challenges in data science
- Why being customer-centric is of critical importance
- Advice on how you can get support from leadership and senior management to allow for forward-thinking innovation and new ideas within your organization
- Fascinating concepts around the economic value of data from his newest book, The Economics of Data, Analytics, and Digital Transformation
- Insights on how product management/leadership roles and data scientists have evolved in terms of working together and determining the economic value of data
- How do you future-proof your career?
- Advice for product leaders who are new to developing data value-driven solutions
Product Leader Tip of the Week:
Bill’s advice to product leaders who are new to developing data value-driven solutions:
- Design-thinking is critical. Understand your customers, the customer journey, and service design. You’re going to have to get very intimate with your customers about not providing products that put the onus of usage on them, but designing services that put the onus on you and your design team.
- Teach all of your business stakeholders how to think like a data scientist. The mentality of thinking like a data scientist (of exploring and bringing in a diverse set of perspectives) in order to find variables and metrics that might be better predictors of performance is key.
To Learn More About Bill Schmarzo:
Related Resources:
- The Art of Thinking Like a Data Scientist, by Bill Schmarzo
- The Economics of Data, Analytics, and Digital Transformation: The theorems, laws, and empowerments to guide your organization’s digital transformation, by Bill Schmarzo
Want to Learn More?
- Sign up for my newsletter at DanielElizalda.com/Join for weekly advice and best practices directly to your inbox!
- Visit DanielElizalda.com/Podcast for additional information, show notes, and episodes.
- Subscribe on iTunes so you don’t miss out on any of my conversations with product and thought leaders!