V2V kicks off a new initiative to define The Economics of Data in a Canadian business context

On October 18th, analytics professionals interested in the creation of a community to explore “Vision to Value: The Economics of Data” (V2V) gathered at 150 York Street in Toronto – the Canadian headquarters location for Information Builders – to begin development of an actionable understanding of how to identify and capture the economic benefits offered by analytics.

The brainstorming session elicited dozens of recommendations, which were assessed by InsightaaS principals Mary Allen and Michael O’Neil. We are pleased to announce that we have consolidated the input from the V2V group into a list of three focus areas and twelve topics which will define the V2V group agenda for 2017/2018.

Over the next year, V2V will convene conference-call working group meetings and publish documents on the following topics:

Analytics in a business context

  • Developing the analytics business case; identifying metrics
  • Problem solving: the right data for the right question
  • Monetizing data: identifying (and capturing) ROI on analytics
  • Introducing analytics to the organization: where and how to begin

Establishing parameters for analytics operation

  • Data classification to support standards, governance, privacy and security
  • Data integration: expanding the evidence base with metadata and matching
  • Data veracity: developing data trust
  • Building data architectures: new models for new information sources

Analytics process change

  • Value stream mapping: working back from end objective to project plan
  • Changing culture and behaviour: socializing analytics success
  • Responding to user needs: role-based self-service engagement
  • Data visualization: democratizing data access and decision support

The V2V process

The V2V community will kick off with a Working Group meeting on November 29th, focused on Developing the Analytics Business Case. During this 90 minute conference call, community members will provide insights that will be captured in a report on Developing the Analytics Business Case. The report will be authored by InsightaaS, will recognize working group participants as expert contributors, and will be available courtesy of V2V sponsor Information Builders.

In 2018, the V2V process will continue, rotating across the remaining topics in the 2018 agenda, with “Problem solving: the right data for the right question” on tap for January 30th. We will also host six V2V meetups, starting on January 25th with a meetup on Developing the Analytics Business Case at Information Builders’ York Street (Toronto) location. As the conclusion of the process, InsightaaS Press will publish three e-books (one for each of the focus areas) based on the working group reports. As with the reports themselves, the e-books will include the names of all expert contributors, recognizing thought leadership in the V2V community.

If you are interested in learning more about the V2V initiative or becoming involved in the process, please follow this link – and let us know where you’d like to participate, as we define a Canadian perspective on V2V!

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