Fail Fast, Learn Faster

Fail Fast, Learn Faster

by Randy Bean, Thomas H. Davenport
Released August 2021
Publisher(s): Wiley
ISBN: 9781119806226

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Book description

Explore why — now more than ever — the world is in a race to become data-driven, and how you can learn from examples of data-driven leadership in an Age of Disruption, Big Data, and AI

In Fail Fast, Learn Faster: Lessons in Data-Driven Leadership in an Age of Disruption, Big Data, and AI, Fortune 1000 strategic advisor, noted author, and distinguished thought leader Randy Bean tells the story of the rise of Big Data and its business impact – its disruptive power, the cultural challenges to becoming data-driven, the importance of data ethics, and the future of data-driven AI.

The book looks at the impact of Big Data during a period of explosive information growth, technology advancement, emergence of the Internet and social media, and challenges to accepted notions of data, science, and facts, and asks what it means to become "data-driven."

Fail Fast, Learn Faster includes discussions of:

  • The emergence of Big Data and why organizations must become data-driven to survive
  • Why becoming data-driven forces companies to "think different" about their business
  • The state of data in the corporate world today, and the principal challenges
  • Why companies must develop a true "data culture" if they expect to change
  • Examples of companies that are demonstrating data-driven leadership and what we can learn from them
  • Why companies must learn to "fail fast and learn faster" to compete in the years ahead
  • How the Chief Data Officer has been established as a new corporate profession

Written for CEOs and Corporate Board Directors, data professional and practitioners at all organizational levels, university executive programs and students entering the data profession, and general readers seeking to understand the Information Age and why data, science, and facts matter in the world in which we live, Fail Fast, Learn Faster p;is essential reading that delivers an urgent message for the business leaders of today and of the future.

Table of contents

  1. COVER
  2. TITLE PAGE
  3. COPYRIGHT
  4. DEDICATION
  5. FOREWORD
  6. PREFACE
  7. INTRODUCTION: FAIL FAST, LEARN FASTER
    1. Notes
  8. 1 A Little History of Big Data
    1. The Big Data Value Proposition
    2. The Implications of Big Data for Large Companies
    3. The Transformational Impact of Big Data
    4. The Business Value of Big Data
    5. Notes
  9. 2 Think Different: Becoming Data-Driven
    1. The Disruptive Power of Data
    2. The Challenge for Legacy Companies
    3. The Distinctive Characteristics of Data
    4. Building a Modern Data Environment at Fannie Mae
    5. Thinking Different in the Life Sciences: Creating a Platform for Real-World Evidence
    6. Building a Unified Data Platform at Anheuser-Busch (AB Inbev)
    7. Using Data to Address Natural Calamities at Munich Re
    8. Notes
  10. 3 Insight and Knowledge: Data, Science, and Facts
    1. Data Initiatives Successes and Failures
    2. Organizing for Data-Driven Analysis at Cigna
    3. Using Data for Clinical Trails: Driving a COVID-19 Cure at Parexel
    4. Building a World-Class Genetics Center at Regeneron
    5. Using Data to Reduce Healthcare Costs at the Health Transformation Alliance
    6. Notes
  11. 4 The State of Data in the Corporate World Today
    1. The 2021 Big Data and AI Executive Survey Findings
    2. A Summary of the Key Themes
    3. Data Investment Is Strong and Growing
    4. Companies Struggle to Become Data-Driven
    5. Cultural Obstacles Continue to Be the Greatest Impediment to Success
    6. The Chief Data Officer Role Continues to Evolve
    7. Companies Are Optimistic About the Future
    8. For Mainstream Companies, the Journey Continues
    9. Note
  12. 5 The Great Challenge: Establishing a Data Culture
    1. Fighting an Uphill Battle
    2. Understanding the Cultural Impediments
    3. How Companies Can Overcome Cultural Obstacles
    4. From Data-Rich to Data-Driven: Building Data Literacy at AmFam
    5. Cultural Transformation: Building a Data Culture Program at Travelers Insurance
    6. Creating an Enterprise Data Office at Nationwide Insurance
    7. Integrating the Human and Technology Dimensions of Data at Northern Trust
    8. Notes
  13. 6 The Rise of the Chief Data Officer
    1. Sexiest Job of the Twenty-First Century
    2. Emergence of the Chief Data Officer
    3. Rethinking the Role of Chief Data Officer
    4. Chief Data Officers Struggle to Make an Impact
    5. The Evolution of the Chief Data Officer Role
    6. The Future of the Chief Data Officer Role
    7. Shaping the Role of the CDO: MIT's Chief Data Officer Symposium
    8. Organizing the Chief Data Officer Function at Citizens Financial Group
    9. Chief Data Officer 4.0: Evolution of the Function at Scotia Bank
    10. Emphasizing Data Privacy and Data Ethics at Mastercard
    11. The U.S. Federal Government CDO Initiative
    12. Notes
  14. 7 Data Responsibility: A Word on Data Ethics
    1. Weapons of Math Destruction?
    2. Big Data for Social Good Initiatives
    3. The Emergence of Data Ethics
    4. Data for Social Good: Bloomberg's Data for Good Exchange
    5. Doing Good and Doing Well: Mastercard's Center for Inclusive Growth
    6. Data-Driven Responsible Investing at TIAA/Nuveen
    7. Notes
  15. 8 Data, Innovation, and Disruption
    1. The Ways Big Data Drives Disruption
    2. Alternative Visions of Data-Driven Disruption
    3. Data Disruption Through FinTech
    4. Allstate's Data-Driven Innovation Initiatives
    5. Another Perspective on Disruption and Change
    6. The Limitations of Data-Driven Disruption
    7. Notes
  16. 9 A Glimpse of the Future: Data-Driven AI
    1. Understanding Machine Learning Versus AI
    2. Delivering Business Value from AI
    3. The Capital One Story: A Pioneer in Data-Driven Management Invests in AI
    4. JP Morgan Stakes a Commitment on AI
    5. The AI Transformation Initiatives of TD Bank
    6. Charles Schwab's AI Transformation Commitment
    7. Notes
  17. 10 BecomingData-Driven: One Company's Odyssey
    1. The Foundation of Data-Driven Transformation
    2. The Ten Commandments of Data-Driven Business Transformation
    3. One Company's Odyssey: The Data-Driven Journey of American Express
    4. Notes
  18. CONCLUSION: A DATA-DRIVEN JOURNEY
    1. Notes
  19. ACKNOWLEDGMENTS
  20. ABOUT THE AUTHOR
  21. INDEX
  22. END USER LICENSE AGREEMENT

Product information

  • Title: Fail Fast, Learn Faster
  • Author(s): Randy Bean, Thomas H. Davenport
  • Release date: August 2021
  • Publisher(s): Wiley
  • ISBN: 9781119806226