S3 | Ep 1 | Valuing Your Data as an Asset with Davin Crowley-Sweet, CDO at National Highways
In Episode 1 of Season 3, of Driven By Data: The Podcast our CEO Kyle Winterbottom is joined by Davin Crowley-Sweet, Chief Data Officer at National Highways, where they discuss how to value your data like you value any other asset, which includes;
- Why CDO’s shouldn’t expect organisations to know what they want/need
- How data is an intangible digital asset that can be valued like any other asset whether you do something with it or not
- The difference between “value” and “benefits” are how we’re confusing them
- Why it makes no sense that our balance sheet tells us more about our furniture than it does about data
- How he was able to value the data asset at £60 billion which was 50% of the value of the roads and 10x more than their technology assets
- Why valuing your data drives proportionate capital investment into it
- Data Literacy V Business Literacy
- How the data strategy took 12 months to complete, included input from 300 people and identified circa £1 billion of potential upside
- The role that Anmut played in helping to value their data assets
- How they calculated it would cost £300m to realise £1bn in return and the strategy to do that cost £3m
- How one project cost £400K to deliver over 6 months and returned £60 million
- The difference between quick wins and being opportunistic
- Why you must be a business leader first and a data leader second
- Why you have to frame data in a language your business understands
- How being able to quantify & articulate the value and benefits of data has made attracting talent much easier
- The mistakes he made at the start
- Why you need to be disruptive but not cause disruption
