K
Kathleen Martin
Guest
A couple of weeks ago, I had the opportunity to interview Sharon Kratochvil, global data & analytics executive for Capri Holdings Limited. Capri Holdings is a global fashion luxury group, consisting of iconic brands (Michael Kors, Jimmy Choo, Versace) that cover the full spectrum of fashion luxury categories including women’s and men’s accessories, footwear and apparel as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products.
Kratochvil has an interesting background. Not only is she a chief data officer (CDO) who holds a PhD, she is a trained econometrician (someone who uses statistics and math to model and predict economic outcomes). I was impressed by her expertise when she spoke at a recent CDO Club event, where she advocated for two important new notions: There are data product managers and data products. She is truly on the vanguard of this trend and provides a valuable model for CDOs to follow. According to Kratochvil, the rise of data products and product managers has occurred because traditional business intelligence projects were too siloed.
What Is a Data Product?
Kratochvil’s perspective about data products contrasts with analyst firms. She argues that firms should have only a small number of data products. The goal for these products should be to support a strategic ecosystem, and each data product should include and integrate multiple data sources, with data enhancements (i.e. engineered features, algorithms, scores), and the platforms associated with the data product. One data product as an ecosystem is used across multiple functional areas to drive a set of business outcomes.
The move to data products makes data strategic. At Capri, their businesses consider data products to be strategic data assets. And this has led to a natural distinction between base data and data products. Base data is a single source. Whereas data products are always multi source and built for specific business function.
Continue reading: https://www.cmswire.com/customer-experience/what-does-a-data-product-manager-do/
Kratochvil has an interesting background. Not only is she a chief data officer (CDO) who holds a PhD, she is a trained econometrician (someone who uses statistics and math to model and predict economic outcomes). I was impressed by her expertise when she spoke at a recent CDO Club event, where she advocated for two important new notions: There are data product managers and data products. She is truly on the vanguard of this trend and provides a valuable model for CDOs to follow. According to Kratochvil, the rise of data products and product managers has occurred because traditional business intelligence projects were too siloed.
What Is a Data Product?
Kratochvil’s perspective about data products contrasts with analyst firms. She argues that firms should have only a small number of data products. The goal for these products should be to support a strategic ecosystem, and each data product should include and integrate multiple data sources, with data enhancements (i.e. engineered features, algorithms, scores), and the platforms associated with the data product. One data product as an ecosystem is used across multiple functional areas to drive a set of business outcomes.
The move to data products makes data strategic. At Capri, their businesses consider data products to be strategic data assets. And this has led to a natural distinction between base data and data products. Base data is a single source. Whereas data products are always multi source and built for specific business function.
Continue reading: https://www.cmswire.com/customer-experience/what-does-a-data-product-manager-do/
