>>welcome back. And thanks for joining us for our second session. External data, your new leading indicators. We'll be hearing from industry leaders as they share best practices and challenges in leveraging external data. This panel will be a true conversation on the part of the possible. All right, let's get to >>it >>today. We're excited to be joined by thought spots. Chief Data Strategy Officer Cindy Housing Deloitte's chief data officer Manteo, the founder and CEO of Eagle Alfa. And it Kilduff and Snowflakes, VP of data marketplace and customer product strategy. Matt Glickman. Cindy. Without further ado, the floor is yours. >>Thank you, Mallory. And I am thrilled to have this brilliant team joining us from around the world. And they really bring each a very unique perspective. So I'm going to start from further away. Emmett, Welcome. Where you joining us from? >>Thanks for having us, Cindy. I'm joining from Dublin, Ireland, >>great. And and tell us a little bit about Eagle Alfa. What do you dio >>from a company's perspective? Think of Eagle Alfa as an aggregator off all the external data sets on a word I'll use a few times. Today is a big advantage we could bring companies is we have a data concierge service. There's so much data we can help identify the right data sets depending on the specific needs of the company. >>Yeah. And so, Emma, you know, people think I was a little I kind of shocked the industry. Going from gardener to a tech startup. Um, you have had a brave journey as well, Going from financial services to starting this company, really pioneering it with I think the most data sets of any of thes is that right? >>Yes, it was. It was a big jump to go from Morgan Stanley. Uh, leave the comforts of that environment Thio, PowerPoint deck and myself raising funding eight years ago s So it was a big jump on. We were very early in our market. It's in the last few years where there's been real momentum and adoption by various types of verticals. The hedge funds were first, maybe then private equity, but corporate sar are following quite quickly from behind. That will be the biggest users, in our view, by by a significant distance. >>Yeah, great. Thank um, it So we're going to go a little farther a field now, but back to the U. S. So, Juan, where you joining us from? >>Hey, Cindy. Thanks for having me. I'm joining you from Houston, Texas. >>Great. Used to be my home. Yeah, probably see Rice University back there. And you have a distinct perspective serving both Deloitte customers externally, but also internally. Can you tell us about that? >>Yeah, absolutely. So I serve as the Lord consultants, chief data officer, and as a professional service firm, I have the responsibility for overseeing our overall data agenda, which includes both the way we use data and insights to run and operate our own business, but also in how we develop data and insights services that we then take to market and how we serve our dealers and clients. >>Great. Thank you, Juan. And last but not least, Matt Glickman. Kind of in my own backyard in New York. Right, Matt? >>Correct. Joining I haven't been into the city and many months, but yes, um, based in New York. >>Okay. Great. And so, Matt, you and Emmett also, you know, brave pioneers in this space, and I'm remembering a conversation you and I shared when you were still a J. P. Morgan, I believe. And you're Goldman Sachs. Sorry. Sorry. Goldman. Can you Can you share that with us? >>Sure. I made the move back in 2015. Um, when everyone thought, you know, my wife, my wife included that I was crazy. I don't know if I would call it Comfortable was emitted, but particularly had been there for a long time on git suffered in some ways. A lot of the pains we're talking about today, given the number of data, says that the amount of of new data sets that are always demand for having run analytics teams at Goldman, seeing the pain and realizing that this pain was not unique to Goldman Sachs, it was being replicated everywhere across the industry, um, in a mind boggling way and and the fortuitous, um, luck to have one of snowflakes. Founders come to pitch snowflake to Goldman a little bit early. Um, they became a customer later, but a little bit early in 2014. And, you know, I realized that this was clearly, you know, the answer from first principles on bond. If I ever was going to leave, this was a problem. I was acutely aware of. And I also was aware of how much the man that was in financial services for a better solution and how the cloud could really solve this problem in particular the ability to not have to move data in and out of these organizations. And this was something that I saw the future of. Thank you, Andi, that this was, you know, sort of the pain that people just expected to pay. Um, this price if you need a data, there was method you had thio. You had to use you either ftp data in and out. You had data that was being, you know, dropped off and, you know, maybe in in in a new ways and cloud buckets or a P i s You have to suck all this data down and reconstruct it. And God forbid the formats change. It was, you know, a nightmare. And then having issues with data, you had a what you were seeing internally. You look nothing like what the data vendors were seeing because they want a completely different system, maybe model completely differently. Um, but this was just the way things were. Everyone had firewalls. Everyone had their own data centers. There was no other way on git was super costly. And you know this. I won't even share the the details of you know, the errors that would occur in the pain that would come from that, Um what I realized it was confirmed. What I saw it snowflake at the time was once everyone moves to run their actual workloads in this in the cloud right where you're now beyond your firewall, you'll have all this scale. But on top of that, you'll be able to point at data from these vendors were not there the traditional data vendors. Or, you know, this new wave of alternative data vendors, for example, like the ones that eagle out for brings together And bring these all these data sets together with your own internal data without moving it. Yeah, this was a fundamental shift of what you know, it's in some ways, it was a side effect of everyone moving to the cloud for costs and scale and elasticity. But as a side effect of that is what we talked about, You know it snowflake summit, you know, yesterday was this notion of a data cloud that would connect data between regions between cloud vendors between customers in a way where you could now reference data. Just like your reference websites today, I don't download CNN dot com. I point at it, and it points me to something else. I'm always seeing the latest version, obviously, and we can, you know, all collaborate on what I'm seeing on that website. That's the same thing that now can happen with data. So And I saw this as what was possible, and I distinctly asked the question, you know, the CEO of the time Is this possible? And not only was it possible it was a fundamental construct that was built into the way that snowflake was delivered. And then, lastly, this is what we learned. And I think this is what you know. M It also has been touting is that it's all great if data is out there and even if you lower that bar of access where data doesn't have to move, how do I know? Right? If I'm back to sitting at Goldman Sachs, how do I know what data is available to me now in this this you know, connected data network eso we released our data marketplace, which was a very different kind of marketplace than these of the past. Where for us, it was really like a global catalog that would elect a consumer data consumer. Noah data was available, but also level the playing field. Now we're now, you know, Eagle, Alfa, or even, you know, a new alternative data vendor build something in their in their basement can now publish that data set so that the world could see and consume and be aligned to, you know, snowflakes, core business, and not where we wouldn't have to be competing or having to take, um, any kind of custody of that data. So adding that catalog to this now ubiquitous access, um really changed the game and, you know, and then now I seem like a genius for making this move. But back then, like I said, we've seen I seem like instant. I was insane. >>Well, given, given that snowflake was the hottest aipo like ever, you were a genius. Uh, doing this, you know, six years in advance. E think we all agree on that, But, you know, a lot of this is still visionary. Um, you know, some of the most leading companies are already doing this. But one What? What is your take our Are you best in class customers still moving the data? Or is this like they're at least thinking about data monetization? What are you seeing from your perspective? >>Yeah, I mean, I did you know, the overall appreciation and understanding of you know, one. I got to get my house in order around my data, um, has something that has been, you know, understood and acted upon. Andi, I do agree that there is a shift now that says, you know, data silos alone aren't necessarily gonna bring me, you know, new and unique insights on dso enriching that with external third party data is absolutely, you know, sort of the the ship that we're seeing our customers undergo. Um, what I find extremely interesting in this space and what some of the most mature clients are doing is, you know, really taking advantage of these data marketplaces. But building data partnerships right there from what mutually exclusive, where there is a win win scenario for for you know, that organization and that could be, you know, retail customers or life science customers like with pandemic, right the way we saw companies that weren't naturally sharing information are now building these data partnership right that are going are going into mutually benefit, you know, all organizations that are sort of part of that value to Andi. I think that's the sort of really important criteria. And how we're seeing our clients that are extremely successful at this is that partnership has benefits on both sides of that equation, right? Both the data provider and then the consumer of that. And there has to be, you know, some way to ensure that both parties are are are learning right, gaining you insights to support, you know, whatever their business organization going on. >>Yeah, great one. So those data partnerships getting across the full value chain of sharing data and analytics Emmett, you work on both sides of the equation here, helping companies. Let's say let's say data providers maybe, like, you know, cast with human mobility monetize that. But then also people that are new to it. Where you seeing the top use cases? Well, >>interestingly, I agree with one of the supply side. One of the interesting trends is we're seeing a lot more data coming from large Corporates. Whether they're listed are private equity backed, as opposed to maybe data startups that are earning money just through data monetization. I think that's a great trend. I think that means a lot of the best. Data said it data is yet to come, um, in terms off the tough economy and how that's changed. I think the category that's had the most momentum and your references is Geo location data. It's that was the category at our conference in December 2000 and 12 that was pipped as the category to watch in 2019. On it didn't become that at all. Um, there were some regulatory concerns for certain types of geo data, but with with covert 19, it's Bean absolutely critical for governments, ministries of finance, central banks, municipalities, Thio crunch that data to understand what's happening in a real time basis. But from a company perspective, it's obviously critical as well. In terms of planning when customers might be back in the High Street on DSO, fourth traditionally consumer transaction data of all the 26 categories in our taxonomy has been the most popular. But Geo is definitely catching up your slide. Talked about being a tough economy. Just one point to contradict that for certain pockets of our clients, e commerce companies are having a field day, obviously, on they are very data driven and tech literate on day are they are really good client base for us because they're incredibly hungry, firm or data to help drive various, uh, decision making. >>Yeah, So fair enough. Some sectors of the economy e commerce, electron, ICS, healthcare are doing great. Others travel, hospitality, Um, super challenging. So I like your quote. The best is yet to come, >>but >>that's data sets is yet to come. And I do think the cloud is enabling that because we could get rid of some of the messy manual data flows that Matt you talked about, but nonetheless, Still, one of the hardest things is the data map. Things combining internal and external >>when >>you might not even have good master data. Common keys on your internal data. So any advice for this? Anyone who wants to take that? >>Sure I can. I can I can start. That's okay. I do think you know, one of the first problems is just a cataloging of the information that's out there. Um, you know, at least within our organization. When I took on this role, we were, you know, a large buyer of third party data. But our organization as a whole didn't necessarily have full visibility into what was being bought and for what purpose. And so having a catalog that helps us internally navigate what data we have and how we're gonna use it was sort of step number one. Um, so I think that's absolutely important. Um, I would say if we could go from having that catalog, you know, created manually to more automated to me, that's sort of the next step in our evolution, because everyone is saying right, the ongoing, uh, you know, creation of new external data sets. It's only going to get richer on DSO. We wanna be able to take advantage of that, you know, at the at the pacing speed, that data is being created. So going from Emanuel catalog to anonymous >>data >>catalog, I think, is a key capability for us. But then you know, to your second point, Cindy is how doe I then connect that to our own internal data to drive greater greater insights and how we run our business or how we serve our customers. Andi, that one you know really is a It's a tricky is a tricky, uh, question because I think it just depends on what data we're looking toe leverage. You know, we have this concept just around. Not not all data is created equal. And when you think about governance and you think about the management of your master data, your internal nomenclature on how you define and run your business, you know that that entire ecosystem begins to get extremely massive and it gets very broad and very deep on DSO for us. You know, government and master data management is absolutely important. But we took a very sort of prioritized approach on which domains do we really need to get right that drive the greatest results for our organization on dso mapping those domains like client data or employee data to these external third party data sources across this catalog was really the the unlocked for us versus trying to create this, you know, massive connection between all the external data that we're, uh, leveraging as well as all of our own internal data eso for us. I think it was very. It was a very tailored, prioritized approach to connecting internal data to external data based on the domains that matter most to our business. >>So if the domains so customer important domain and maybe that's looking at things, um, you know, whether it's social media data or customer transactions, you prioritized first by that, Is that right? >>That's correct. That's correct. >>And so, then, Matt, I'm going to throw it back to you because snowflake is in a unique position. You actually get to see what are the most popular data sets is is that playing out what one described are you seeing that play out? >>I I'd say Watch this space. Like like you said. I mean this. We've you know, I think we start with the data club. We solve that that movement problem, which I think was really the barrier that you tended to not even have a chance to focus on this mapping problem. Um, this notion of concordance, I think this is where I see the big next momentum in this space is going to be a flurry of traditional and new startups who deliver this concordance or knowledge graph as a service where this is no longer a problem that I have to solve internal to my organization. The notion of mastering which is again when everyone has to do in every organization like they used to have to do with moving data into the organization goes away. And this becomes like, I find the best of breed for the different scopes of data that I have. And it's delivered to me as a, you know, as a cloud service that just takes my data. My internal data maps it to these 2nd and 3rd party data sets. Um, all delivered to me, you know, a service. >>Yeah, well, that would be brilliant concordance as a service or or clean clean master data as a service. Um, using augmented data prep would be brilliant. So let's hope we get there. Um, you know, so 2020 has been a wild ride for everyone. If I could ask each of you imagine what is the art of the possible or looking ahead to the next to your and that you are you already mentioned the best is yet to come. Can you want to drill down on that. What what part of the best is yet to come or what is your already two possible? >>Just just a brief comment on mapping. Just this week we published a white paper on mapping, which is available for for anyone on eagle alfa dot com. It's It's a massive challenge. It's very difficult to solve. Just with technology Onda people have tried to solve it and get a certain level of accuracy, but can't get to 100% which which, which, which makes it difficult to solve it. If if if there is a new service coming out against 100% I'm all ears and that there will be a massive step forward for the entire data industry, even if it comes in a few years time, let alone next year, I think going back to the comment on data Cindy. Yes, I think boards of companies are Mawr and Mawr. Viewing data as an asset as opposed to an expense are a cost center on bond. They are looking therefore to get their internal house in order, as one was saying, but also monetize the data they are sitting on lots of companies. They're sitting on potentially valuable data. It's not all valuable on a lot of cases. They think it's worth a lot more than it is being frank. But in some cases there is valuable data on bond. If monetized, it can drop to the bottom line on. So I think that bodes well right across the world. A lot of the best date is yet to come on. I think a lot of firms like Deloitte are very well positioned to help drive that adoption because they are the trusted advisor to a lot of these Corporates. Um, so that's one thing. I think, from a company perspective. It's still we're still at the first base. It's quite frustrating how slow a lot of companies are to move and adopt, and some of them are haven't hired CDO. Some of them don't have their internal house in order. I think that has to change next year. I think if we have this conference at this time next year, I would expect that would hopefully be close to the tipping point for Corporates to use external data. And the Malcolm Gladwell tipping point on the final point I make is I think, that will hopefully start to see multi department use as opposed to silos again. Parliaments and silos, hopefully will be more coordinated on the company's side. Data could be used by marketing by sales by r and D by strategy by finance holds external data. So it really, hopefully will be coordinated by this time next year. >>Yeah, Thank you. So, to your point, there recently was an article to about one of the airlines that their data actually has more value than the company itself now. So I know, I know. We're counting on, you know, integrators trusted advisers like Deloitte to help us get there. Uh, one what? What do you think? And if I can also drill down, you know, financial services was early toe all of this because they needed the early signals. And and we talk about, you know, is is external data now more valuable than internal? Because we need those early signals in just such a different economy. >>Yeah, I think you know, for me, it's it's the seamless integration of all these external data sources and and the signals that organizations need and how to bring those into, you know, the day to day operations of your organization, right? So how do you bring those into, You know, you're planning process. How do you bring that into your sales process on DSO? I think for me success or or where I see the that the use and adoption of this is it's got to get down to that level off of operations for organizations. For this to continue to move at the pace and deliver the value that you know, we're all describing. I think we're going to get there. But I think until organizations truly get down to that level of operations and how they're using this data, it'll sort of seem like a Bolton, right? So for me, I think it's all about Mawr, the seamless integration. And I think to what Matt mentioned just around services that could help connect external data with internal data. I'll take that one step beyond and say, How can we have the data connect itself? Eso I had references Thio, you know, automation and machine learning. Um, there's significant advances in terms of how we're seeing, you know, mapping to occur in a auto generated fashion. I think this specific space and again the connection between external and internal data is a prime example of where we need to disrupt that, you know, sort of traditional data pipeline on. Try to automate that as much as possible. And let's have the data, you know, connect itself because it then sort of supports. You know, the first concept which waas How do we make it more seamless and integrated into, you know, the business processes of the organization's >>Yeah, great ones. So you two are thinking those automated, more intelligent data pipelines will get us there faster. Matt, you already gave us one. Great, Uh, look ahead, Any more to add to >>it, I'll give you I'll give you two more. One is a bit controversial, but I'll throw that you anyway, um, going back to the point that one made about data partnerships What you were saying Cindy about, you know, the value. These companies, you know, tends to be somehow sometimes more about the data they have than the actual service they provide. I predict you're going to see a wave of mergers and acquisitions. Um, that it's solely about locking down access to data as opposed to having data open up. Um to the broader, you know, economy, if I can, whether that be a retailer or, you know, insurance company was thes prime data assets. Um, you know, they could try to monetize that themselves, But if someone could acquire them and get exclusive access that data, I think that's going to be a wave of, um, in a that is gonna be like, Well, we bought this for this amount of money because of their data assets s. So I think that's gonna be a big wave. And it'll be maybe under the guise of data partnerships. But it really be about, you know, get locking down exclusive access to valuable data as opposed to trying toe monetize it itself number one. And then lastly, you know. Now, did you have this kind of ubiquity of data in this interconnected data network? Well, we're starting to see, and I think going to see a big wave of is hyper personalization of applications where instead of having the application have the data itself Have me Matt at Snowflake. Bring my data graph to applications. Right? This decoupling of we always talk about how you get data out of these applications. It's sort of the reverse was saying Now I want to bring all of my data access that I have 1st, 2nd and 3rd party into my application. Instead of having to think about getting all the data out of these applications, I think about it how when you you know, using a workout app in the consumer space, right? I can connect my Spotify or connect my apple music into that app to personalize the experience and bring my music list to that. Imagine if I could do that, you know, in a in a CRM. Imagine I could do that in a risk management. Imagine I could do that in a marketing app where I can bring my entire data graph with me and personalize that experience for, you know, for given what I have. And I think again, you know, partners like thoughts. But I think in a unique position to help enable that capability, you know, for this next wave of of applications that really take advantage of this decoupling of data. But having data flow into the app tied to me as opposed to having the APP have to know about my data ahead of time, >>Yeah, yeah, So that is very forward thinking. So I'll end with a prediction and a best practice. I am predicting that the organizations that really leverage external data, new data sources, not just whether or what have you and modernize those data flows will outperform the organizations that don't. And as a best practice to getting there, I the CDOs that own this have at least visibility into everything they're purchasing can save millions of dollars in duplicate spend. So, Thio, get their three key takeaways. Identify the leading indicators and market signals The data you need Thio. Better identify that. Consolidate those purchases and please explore the data sets the range of data sets data providers that we have on the thought spot. Atlas Marketplace Mallory over to you. >>Wow. Thank you. That was incredible. Thank you. To all of our Panelists for being here and sharing that wisdom. We really appreciate it. For those of you at home, stay close by. Our third session is coming right up and we'll be joined by our partner AWS and get to see how you can leverage the full power of your data cloud complete with the demo. Make sure to tune in to see you >>then