Technic: Why it’s important to see data as a product

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Data is the new oil? Not so, declared Dr. Sebastian Klapdor from Vista at the Online Print Symposium 2024, explaining that data should not be like oil, difficult to extract, transport or even toxic, but like water: clean (processed), easily accessible and easy to share. Just as water creates life, data could generate innovation and growth for companies – when it is perceived as a product. Especially since data is the basis for AI applications.

The modernization of techniques and the application of data science, ML (machine learning) and AI enable important commercial and operational applications, as Dr. Sebastian Klapdor described in his presentation “Increasing customer and business value with kick-a$$ data products”. For him, data is not an abstract matter, but – as already described – like water: clean, easily accessible and vital. “Data is essential to increase the value of artificial intelligence, but most companies struggle to capitalize on it,” he said. 

 The correct, or rather, profitable use of data in a company is not like a yacht that sails steadily and at a constant speed across a – metaphorically speaking – “sea of data” and continuously generates value – but rather like a rowing boat on a lake, often without propulsion and difficult to steer. Dr Sebastian Klapdor sees three reasons why many companies fail to derive the right benefits from data: the limitations in technology and the organization of companies, the limited possibilities of use due to the silo structure and “data operations” in general.

He called for data to be seen as a product in a data network. As CTO/CDO at Vista, Klapdor achieves this by leading technology and data teams with 800 software engineers, data scientists and analysts around the world. The goal is to make Vista a leading technology and data company. A key element of his vision is to treat data as a product and to develop scalable, AI/ML-based data products in cross-functional teams on a data grid architecture. 

It is important that data products are always based on a problem or a question – and not on technology. The data product is then developed around this question. Ideally, the problem should be one that occurs repeatedly, and the solution can therefore be used on an ongoing basis and contain a certain level of complexity. According to Dr. Sebastian Klapdor, it is also important for the development of a data product that it is accessible to employees via an easy-to-use interface.

According to the expert, in order to successfully develop such data products, it is important that everyone in the team speaks the same language and overcomes silo thinking. “We are sitting on a data goldmine,” said Klapdor, sharing his learning from the last four years with the audience at the Online Print Symposium. After all, no benefit can be derived from unstructured data. Only by using data as an essential part of the corporate culture can accelerated processes, better planning or customer services with AI-supported interaction be achieved.  

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Technic: Why it's important to see data as a product
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Technic: Why it's important to see data as a product
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Data is the new oil? Not so, declared Dr. Sebastian Klapdor from Vista at the Online Print Symposium 2024, explaining that data should not be like oil, difficult to extract, transport or even toxic, but like water: clean (processed), easily accessible and easy to share. Just as water creates life, data could generate innovation and growth for companies - when it is perceived as a product. Especially since data is the basis for AI applications.
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Beyond-print.net

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