Data Product Management: Barb Wixom & MIT CISR
- Many chief information officers struggle to leverage data effectively, despite investments in platforms and governance.
- wixom, co-author of "Data Is Everybody’s Business," advocates for treating data as a strategic asset.
- According to Wixom, companies like comScore and LexisNexis exemplify this approach.
CIOs, ready to revolutionize how you leverage data? the secret lies in adopting the “data product mindset”, according to Barb wixom of MIT CISR, shifting focus from mere data repositories to strategic assets. This crucial conversion allows organizations to emulate information-driven businesses and unlock unprecedented value. Learn how companies like comScore and LexisNexis excel by prioritizing reusable data assets and solution ownership. Wixom,co-author of “Data Is Everybody’s Business,” reveals a blueprint for turning data into a powerful business driver. News Directory 3 can help you sort through insights on this evolving landscape. Discover what’s next for data product management.
CIOs and the Data Product Mindset: Extracting Value from data
Many chief information officers struggle to leverage data effectively, despite investments in platforms and governance. Barb Wixom, principal research scientist at MIT Sloan’s Center for Information Systems Research, suggests a shift in perspective is needed. Rather of merely building data repositories, CIOs should adopt a data product mindset, similar to accomplished information businesses.
wixom, co-author of “Data Is Everybody’s Business,” advocates for treating data as a strategic asset. Her research, stemming from her time at the University of Virginia, highlights the importance of studying companies that thrive on data.These organizations create scalable data assets and build solutions around them, ultimately monetizing both.
According to Wixom, companies like comScore and LexisNexis exemplify this approach. They prioritize ownership of both the data asset and the solutions derived from it. This contrasts wiht conventional industries where data is frequently enough viewed as simply an input.
What’s next
CIOs who embrace the data product mindset can unlock new opportunities for innovation and revenue generation. By focusing on creating reusable, scalable data assets, organizations can transform their data into a valuable business driver.