Business Data & Metrics is the data that enables the business strategy—such as data used for A) performance indicators in dashboards and management reports; B) external data to identify and track customer needs and market changes, and C) the data used in the AI and ML to enable smart assets and adaptive workflows.
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Duration: 8 hours
Skill Level: Intermediate
Description
Some say that data is the new oil. But just like oil cannot be used if it is unrefined, big data is an immensely valuable asset for any company, but only those who extract the value of data see huge rewards. Data science and data engineering are essential components to implement a Hyperadaptive and Intelligent Operating Model in an enterprise and are the foundation for using artificial intelligence and advanced analytics. However, most of the elements of data science are terms and concepts that only technical experts and data scientists understand. Metrics are the semantic layer in data science, in other words, the ‘language of data’ of the business users. Business and operational leaders and professionals use data as metrics for decision making, business intelligence, performance tracking, forecasting, and strategic planning. That is why Strategic Data & Metrics are considered one of the core elements of a StrategyOps practice. Strategic Data & Metrics are essential to managing assets, capabilities, and outcomes. The Business Data & Metrics Strategist course from the StrategyOps Institute teaches the participants how to identify and define the metrics that are strategic for their areas, in order to:
- Assess and manage their operational assets.
- Measure the performance of an internal or external service provider.
- Quantify Outcomes.
- Measure the value realized from solutions, projects, and portfolios.
- Identify the external data necessary to track customer needs and market changes.
- Define the data used by smart assets and intelligent workflows.