From Data Mesh to Valuable Data Products: A Comprehensive Guide

Chapter 1: Understanding Your Data Strategy

If you're new here, welcome to your go-to source for Data, AI, and Analytics updates. In this weekly digest, I sift through the most impactful data stories, presenting what's trending and what's not.

Assessing Your Data Strategy Stage

To gauge where you stand in your data strategy journey, take a look at Samir's survey below. Recent findings reveal three crucial insights:

Over half of the participants (53.0%) claim to have a corporate data strategy in place.
Less than 60% of these strategies are reported to be yielding positive outcomes.
Transitioning to a "data-driven" approach may take longer than anticipated. While 60% believe it should take 2 to 3 years, the reality could be closer to the 30% who indicate a timeframe of 4 to 5 years or more.

Credit to Randy Bean. Participate in Samir's survey here.

The fundamental issue with data challenges isn't rooted in our technology but rather in our data management frameworks, as stated by Joe Hilleary from Eckerson Group.

Seven Steps to Crafting a Valuable Data Product

Insights from Joseph Hilleary of Eckerson Group provide a valuable roadmap for building effective data products:

Begin by understanding consumer needs: What issues are they facing? What existing resources fall short?
Identify your target market: Who stands to gain from your product, and what value does it add to the organization?
Release a prototype for initial testing.
Open channels for feedback: Utilizing a data catalog or internal data exchange can facilitate structured feedback from users.
Create a collaborative environment: A platform that allows data providers and consumers to work together securely is ideal, enabling analysts to demonstrate how they manipulate data post-provisioning.
Prepare for iterations: Repeat steps 3 to 5 until the product aligns with demand.
Focus on publishing and refining: Concentrate on one product at a time while remaining open to revisiting earlier decisions during the development of future products.

Customer Spotlight: Postmates & Delivery Hero

This week, I want to highlight two remarkable customers: Aaron Biller and Matteo Fava, who were recently featured in our new DataJourneys podcast format. Thanks to Mark Mirchandani and Stephanie Wong for showcasing their contributions!