How to Create Hit Data Products in an AI World
Are Your Data Products Platinum Hits or Just Background Noise
I recently attended a Rolling Stones concert here in Silicon Valley. From the opening song, Start Me Up, to the last encore, Satisfaction, the band delivered hit after hit. Even in their seventh decade, Mick Jagger, Keith Richard, and the rest of the Stones can still bring it!
What’s the secret to the greatest rock band of all time’s continued success? Riveting showmanship, clever, memorable lyrics, ever-evolving musicality, and more. It’s a recipe that is hard to duplicate.
Another hard-to-duplicate recipe is for creating rocking data products that internal users include in their greatest hits and external users gladly pay outrageous ticket prices to access. Unfortunately, when it comes to data products, You Can’t Always Get What You Want.
Why Data Products, Why Now?
According to fellow Insight Jam Expert Sanjeev Mohan, a “data product is a combination of:
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Data sets which may be in a table, view, an ML model, or a stream. The data may be raw data or curated data integrated from multiple data sources. The data product must publish its data model
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Domain model which adds a semantic layer. This layer abstracts the technical layout of the storage layer and instead exposes the business-friendly terms to the end-users. This layer also stores various calculations, metrics, and the transformation business logic.
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Access to data via APIs and other visualization options and with access control policies enforced.”
This is a perfectly fine technical definition. But why are data products valuable? According to McKinsey, “Data products allow new business use cases to be implemented 90% faster and total cost of ownership to decline by 30%. They also reduce risk and the time and money spent on governance operations.”
Also on the value front, Dataversity adds, “Perhaps the greatest benefit of data products to organizations is their ability to unlock the value of data by serving as the glue that bonds together physical systems, data modeling, and business processes and use cases. They replace the piecemeal approach that many companies take to their data operations while also decentralizing Data Management.”
How To Create Data Product Hits Like a Rolling Stone
If you want to learn to do something great, learn it from an expert.
The Rolling Stones are experts at creating hit records. Our band, similarly talented at creating hit data products, includes Mike Magalsky, CEO and founder of InfoVia, Sharad Kumar, Data Integration Lead for Americas at Qlik, and Kaycee Lai, CEO and founder of Prometium.
To hear this expert advice, join us on Friday, August 9, at noon EST for Insight Jam: How to Create Winning Data Products in an AI World.
At this event, our experts will address important data product questions critical to your success including:
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How to envision a hit data product?
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Why will your audience care?
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Who do you include in your band?
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What technology will your studio require?
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Where will you promote your hits?
Get ready to rock!
