Data Monetization! Data Monetization! Data Monetization!

It’s the new mantra of many organizations. But what does “data monetization” really mean, how do you do it, and more importantly, who in the organization owns the job of “data monetization”?

The role of Chief Data Officer (CDO) would seem to be a godsend to answer the data monetization challenge. They should be the catalyst in helping organizations to become more effective at leveraging data and analytics to power the digital transformation.

However, all is not well in the world of the CDO. Many organizations appoint a CDO with an Information Technology (IT) background – the same background and experience as the Chief Information Officer (CIO). The organization then ends up splitting the existing CIO role between the current CIO and the CDO; giving the CDO the tasks associated with data collection, governance, protection and access.

Splitting the existing CIO role isn’t sufficient. Instead, the CDO needs a totally different charter than the CIO, and a key aspect of that charter must be around data monetization.

A recent article titled “The CDO and the CIO: Is it a Love or Hate Relationship?” highlighted some of the challenges that the CDO faces in getting the support they need to be successful:

• Only 47 percent of CDOs are given a clear remit or objective when they join an organization.
• Less than half are given the appropriate staffing for their office.
• Only a quarter are given authority over data across departments.
• CDOs are given budget and applicable technology just over half the time.

My personal experience is consistent with these findings. In a blog titled “Chief Data Officer: The True Dean of Big Data?” I stated:

“The CDO doesn’t need an IT background (that’s the CIO’s job). I recommend an economics education because economists have been trained to assign value to abstract concepts and assets. An economist is “an expert who studies the relationship between an organization’s resources and its production or output (value).” And in today’s world, assigning value to complex data sets can be extremely abstract.

A more accurate title for this role might be CDMO – Chief Data Monetization Officer – as their role needs to be focused on deriving value from, or monetizing, the organization’s data assets. This also needs to include determining how much to invest to acquire additional data sources that would complement the organization’s existing data sources and enhance their analytic results.”

That’s right. Much of the confusion between the roles, responsibilities and expectations between the CIO and the CDO could be clarified with a simple title change: Chief Data Monetization Officer. The CDO, or CDMO, would have responsibility for monetizing the organization’s data and analytics; for managing, refining, sharing and monetizing the organization’s data and analytic digital assets.

Enter the Chief Data Monetization Officer
The title says it all; the role of the Chief Data Monetization Officer is to lead the organization’s efforts to monetize the organizations data (and resulting analytics). To accomplish that, the CDMO’s key responsibilities need to include:

Document Business Use Cases for Data Assets. Implement a methodology that identifies, validates, prioritizes and documents the organization’s key business and operational use cases. The use case documentation should call out the use case financial drivers as well as the implementation risks.

Figure 1: Document Business or Operational Use Cases

Capture and Re-use Data Assets. Create a methodology that facilitates the capture, refinement, enhancement and sharing of the organization’s data assets.

Figure 2: Capture, Catalog, Refine and Share Data Assets

Capture and Re-use Analytic Assets. Embrace a methodology and tools that facilitate the capture, version control, regression testing and sharing of the organization’s analytic assets.

Figure 3: Capture, Catalog, Refine and Share Analytic Assets

Create Collaborative Value Creation Platform. Develop and leverage a data lake that becomes the ultimate repository for the organization’s key digital assets – data and analytics.

Figure 4: Data Lake: The Collaborative Value Creation Platform

Analytic Tools and Methodology Management. Deploy and run analytic and data management tools including the evaluation, selection, management and retirement of the organization’s data management and data science tools. This role also owns the development and adoption of a data science exploration and testing process (see Figure 5).

Figure 5: Data Exploration Process

Cultivate Data Science Team. Develop the organization’s data engineering and data science capabilities. This includes the hiring, training, growth, management and retention of the data engineering and data science teams, as well as any partnering strategies.  It is the data science team that ultimately powers the organization’s “data monetization” efforts.

Chief Data Monetization Officer: Digital Transformation Catalyst
A small number of organizations are starting to understand the subtle yet critical differences between a Chief Data Officer (who is chartered with managing the organization’s data) and a Chief Data Monetization Officer (who is chartered with monetizing the organization’s data). And there are examples from which we can learn more about the nature of the monetization role. For example, most digital media organizations have a Chief Revenue Officer. The Chief Revenue Officer is responsible for driving better integration and alignment between all revenue-related functions, including marketing, sales, customer support, pricing, and revenue management.

Ultimately the CDO needs to own the organization’s “Digital Transformation” process, which includes addressing:

1. How effective is your organization at leveraging data and analytics to power your business model?
2. Do you understand your organizations key business initiatives and how they benefit from big data?
3. Do you have business stakeholder active participation in setting your use case roadmap?
4. Do you understand the economic value of your data and how that affects your technology and business investments?
5. Do you understand how to create a platform that exploits the economic value
   of your data?

See the blog “5 Questions that Define Your Digital Transformation” for more details on how to address the 5 digital transformation questions above.

Data Monetization Call to Action
It’s time to arm the CDO with the tools necessary to drive the organization’s data monetization efforts. This includes:

• The Vision Workshop as a means to identify, validate and prioritize the organization’s data monetization efforts. Check out the “Big Data Vision Workshop” site for more details on the Vision Workshop process and key deliverables.
• The data lake as the organization’s “collaborative value creation platform.” Check out the blog “Data Lake Business Model Maturity Index” for more details on the Data Lake and the Elastic Data Platform.

The post Data Monetization? Cue the Chief Data Monetization Officer appeared first on InFocus Blog | Dell EMC Services.

CloudExpo | DXWorldEXPO have announced the conference tracks for Cloud Expo 2018, introducing DXWorldEXPO.

DXWordEXPO, colocated with Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA.

Digital Transformation (DX) is a major focus with the introduction of DXWorld Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.

A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throughout enterprises of all sizes.

Cloud Expo | DXWorldEXPO 2018 New York
(June 5-7, 2018, Javits Center, Manhattan)

Cloud Expo | DXWorldEXPO 2018 Silicon Valley
(November 6-8, 2018, Santa Clara Convention Center, CA)

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of DXWorldEXPO® - Digital Transformation Conference & Expo has announced its conference agenda, with three major themes:

* Technology - The Revolution Continues
* Economy - The 21st Century Emerges
* Society - The Big Issues

"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DXWorldExpo has organized these issues along 10 tracks with more than 500 of the world's top speakers coming to Istanbul to help change the world."

There are 10 tracks running throughout the event and following the major themes. More than 500 breakout sessions will be featured, along with keynotes and general sessions from some of the world's top technology, business, and societal leaders. The event will be held over five days in Istanbul, reflecting the global nature of Digital Transformation and the city's long and historic role as a key business and intellectual center and linchpin between East and West.

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

DX World Expo's Global Themes and Tracks are as follows:

Technology - The Revolution Continues

DX Tech: Data-Driven Global 2000
DX Tech: The Blockchain Challenge
DX Tech: AI and Cognitive
DX Tech: The Global Cloud

Economy - The 21st Century Emerges

DX Econ: Software is Rewriting the World
DX Econ: Smart Cities, Nations, and Regions
DX Econ: FinTech and the Token Economy
DX Econ: The Industrial Internet and Industrie 4.0

Society - The Big Issues

DX Society: Environment
DX Society: Education
DX Society: Agriculture
DX Society: Health Care

Call for Papers -speaking opportunities- as well as sponsorship and exhibit opportunities will open on November 1, 2017.

World's Most Important Tech Event
DXWorldEXPO® will be the world's most important tech event with 1,000 exhibitors in its first year and 2,000 exhibitors in its second year, as it guides Global 2000 companies through their Digital Transformation journey for the next two decades. The global event is set to launch September 17-20, 2018 in Istanbul. It will be sponsored by Fortune 50 companies, and more than 30 international banks will be among sponsors of its FinTech/InsurTech track.

Gaining a better understanding of customers and acting upon this information is the foundation of Digital Transformation (DX) in the enterprise. Applying the latest technologies in this area is the key to driving new topline revenue opportunities.

Global 2000 companies have more than US$40 trillion in annual revenue - more than 50% of the world's entire GDP. The Global 2000 spends a total of US$2.4 trillion annually on enterprise IT. The average Global 2000 company has US$11 billion in annual revenue. The average Global 2000 company spends more than $600 million annually on enterprise IT.

Governments throughout the world spend another US$500 billion on IT - much of it dedicated to new Smart City initiatives. There are more than a dozen Global 2000 companies in Turkey, including Isbank, Garanti Bank, other financial institutions, Turk Telecom, Turkcell, Turkish Airlines, and ENKA.

Cloud Expo | DXWorldEXPO 2018 New York
(June 5-7, 2018, Javits Center, Manhattan)

Cloud Expo | DXWorldEXPO 2018 Silicon Valley
(November 6-8, 2018, Santa Clara Convention Center, CA)

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

More Management Quotes
"For the past 10 years at Cloud Expo, we've helped drive the migration to modern enterprise IT infrastructures, built upon the foundation of cloud computing. Today's hybrid, multiple cloud IT infrastructures integrate Big Data, analytics, blockchain, the IoT, mobile devices, and the latest in cryptography and enterprise-grade security," said Fuat Kircaali, Chairman and founder of DX World Expo, LLC.

"As a report from the World Economic Forum and Accenture recently stated, 'Companies need to fundamentally change the way they identify, develop and launch new business ventures.' We agree," said Carmen Gonzalez, president of DX World Expo, LLC.

"Digital Transformation is the key issue driving the global enterprise IT business," said Roger Strukhoff, Conference Chair and Executive Director of the Tau Institute for Global ICT Studies. "DX is most prominent among Global 2000 enterprises and government institutions. Our new event in Istanbul brings together the top companies and delegates from around the world, who are transforming the world."

2018 Conference Agenda and Tracks, June 5-7, Javits Center

Track 1 | Cloud Expo - Enterprise Cloud
Track 2 | DXWorld Expo - Digital Transformation (DX)
Track 3 | The API Enterprise | Mobility & Security
Track 4 | DevOps | Containers & Microservices
Track 5 | Cognitive Computing | AI, ML, DL
Track 6 | Big Data | Analytics
Track 7 | IoT | IIoT | Smart Cities
Track 8 | Hot Topics | FinTech | WebRTC

Cloud Expo covers all of these tools, with the most comprehensive program and more than 120 top world-class speakers throughout our Industry presenting Keynotes, General Sessions, Breakout Sessions along eight focused tracks, as well as our signature Power Panels. Our expo floor brings together the world's leading companies throughout the world of Cloud Computing, DX, and all they entail.

As your enterprise creates a vision and strategy that enables you to create your own unique, long-term success, learning about all the technologies involved is essential. Companies today not only form multi-cloud and hybrid cloud architectures, but create them with built-in cognitive capabilities. Cloud-native thinking is now the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, as well as the public sector.

Cloud Expo is the world's most important, independent event where technology buyers and vendors meet to experience and discuss the big picture of Digital Tranformation and all of the strategies, tactics, and tools they need to realize their goals.

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

Only Cloud Expo brings together all this in a single location:

• Cloud Computing
• Big Data & Analytics
• Software-Defined Infrastructure
• Industrial IoT
• Industry 4.0
• Artificial Intelligence
• Cognitive Computing
• Microservices
• Machine Learning
• DevOps
• WebRTC
• FinTech
• Digital Transformation

Attend Cloud Expo. Build your own custom experience. Learn about the world's latest technologies and chart your course to Digital Transformation.

21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world.

Download Show Prospectus ▸ Here

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS - software, platform, and infrastructure as a service.

With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo, October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.

2018 Conference Agenda and Tracks, June 5-7, Javits Center

Track 1 | Cloud Expo - Enterprise Cloud
Track 2 | DXWorld Expo - Digital Transformation (DX)
Track 3 | The API Enterprise | Mobility & Security
Track 4 | DevOps | Containers & Microservices
Track 5 | Cognitive Computing | AI, ML, DL
Track 6 | Big Data | Analytics
Track 7 | IoT | IIoT | Smart Cities
Track 8 | Hot Topics | FinTech | WebRTC

Cloud Expo | DXWorldEXPO 2018 New York
(June 5-7, 2018, Javits Center, Manhattan)

Cloud Expo | DXWorldEXPO 2018 Silicon Valley
(November 6-8, 2018, Santa Clara Convention Center, CA)

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

Download Show Prospectus ▸ Here

Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers.

Companies are each developing their unique mix of cloud technologies and services, forming multi-cloud and hybrid cloud architectures and deployments across all major industries. Cloud-driven thinking has become the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, and the public sector.

Cloud Expo is the single show where technology buyers and vendors can meet to experience and discus cloud computing and all that it entails. Sponsors of Cloud Expo will benefit from unmatched branding, profile building and lead generation opportunities through:

• Featured on-site presentation and ongoing on-demand webcast exposure to a captive audience of industry decision-makers.
• Showcase exhibition during our new extended dedicated expo hours
• Breakout Session Priority scheduling for Sponsors that have been guaranteed a 35-minute technical session
• Online advertising in SYS-CON's i-Technology Publications
• Capitalize on our Comprehensive Marketing efforts leading up to the show with print mailings, e-newsletters and extensive online media coverage.
• Unprecedented PR Coverage: Editorial Coverage on Cloud Computing Journal.
  
• Tweetup to over 75,000 plus followers
• Press releases sent on major wire services to over 500 industry analysts.

For more information on sponsorship, exhibit, and keynote opportunities, contact Carmen Gonzalez by email at events (at) sys-con.com, or by phone 201 802-3021.

The World's Largest "Cloud Digital Transformation" Event

@CloudExpo | @ThingsExpo 2017 Silicon Valley
(Oct. 31 - Nov. 2, 2017, Santa Clara Convention Center, CA)

@CloudExpo | @ThingsExpo 2018 New York
(June 12-14, 2018, Javits Center, Manhattan)

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

Sponsorship Opportunities

Sponsors of Cloud Expo | @ThingsExpo will benefit from unmatched branding, profile building and lead generation opportunities through:

• Featured on-site presentation and ongoing on-demand webcast exposure to a captive audience of industry decision-makers
• Showcase exhibition during our new extended dedicated expo hours
• Breakout Session Priority scheduling for Sponsors that have been guaranteed a 35 minute technical session
• Online targeted advertising in SYS-CON's i-Technology Publications
• Capitalize on our Comprehensive Marketing efforts leading up to the show with print mailings, e-newsletters and extensive online media coverage
• Unprecedented Marketing Coverage: Editorial Coverage on ITweetup to over 100,000 plus followers, press releases sent on major wire services to over 500 industry analysts

For more information on sponsorship, exhibit, and keynote opportunities, contact Carmen Gonzalez (@GonzalezCarmen) today by email at events (at) sys-con.com, or by phone 201 802-3021.

Secrets of Sponsors and Exhibitors ▸ Here
Secrets of Cloud Expo Speakers ▸ Here

All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades.

With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-4, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.

Delegates to Cloud Expo | @ThingsExpo will be able to attend 8 simultaneous, information-packed education tracks.

There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content.

Join Cloud Expo | @ThingsExpo conference chair Roger Strukhoff (@IoT2040), October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, for three days of intense Enterprise Cloud and 'Digital Transformation' discussion and focus, including Big Data's indispensable role in IoT, Smart Grids and (IIoT) Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) Digital Transformation in Vertical Markets.

Full Conference Registration "Gold Pass" and Exhibit Hall ▸ Here (Register ▸ Here via EventBrite)

Financial Technology - or FinTech - Is Now Part of the @CloudExpo Program!

Accordingly, attendees at the upcoming 21st Cloud Expo | @ThingsExpo October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, will find fresh new content in a new track called FinTech, which will incorporate machine learning, artificial intelligence, deep learning, and blockchain into one track.

Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses.

FinTech brings efficiency as well as the ability to deliver new services and a much improved customer experience throughout the global financial services industry. FinTech is a natural fit with cloud computing, as new services are quickly developed, deployed, and scaled on public, private, and hybrid clouds.

More than US$20 billion in venture capital is being invested in FinTech this year. @CloudExpo is pleased to bring you the latest FinTech developments as an integral part of our program, starting at the 21st International Cloud Expo October 31 - November 2, 2017 in Silicon Valley, and June 12-14, 2018, in New York City.

@CloudExpo is accepting submissions for this new track, so please visit www.CloudComputingExpo.com for the latest information.

Speaking Opportunities

The upcoming 21st International @CloudExpo | @ThingsExpo, October 31 - November 2, 2017, Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY announces that its Call For Papers for speaking opportunities is open.

Submit your speaking proposal today! ▸ Here

About @CloudEXPO and @DXWorldEXPO
SYS-CON Media (www.sys-con.com) has since 1994 been connecting technology companies and customers through a comprehensive content stream - featuring over forty focused subject areas, from Cloud Computing to Web Security - interwoven with market-leading full-scale conferences. The company's internationally recognized brands include among others Cloud Expo® (@CloudExpo), Big Data Expo® (@BigDataExpo), DevOps Summit (@DevOpsSummit), @ThingsExpo® (@ThingsExpo), and DXWorldEXPO® (@ExpoDX).

@CloudExpo® and @ThingsExpo® are registered trademarks of CLOUD EXPO INC.

DXWorldEXPO® is a registered trademark of DX WORLD EXPO LLC.