>> narrator: From Las Vegas it's theCUBE covering IBM Think 2018. Brought to you by IBM. >> We're back at IBM Think 2018. My name is Dave Vellante. I'm here with Peter Burris, my co-host, and you're watching theCUBE, the leader in live tech coverage. Our day two of our wall to wall coverage of IBM Think. Madhu Kochar is here. She's the Vice President of Analytics, Product Development at IBM and she's joined by Pat Maqetuka >> Close enough. She's a data officer at Nedbank. Ladies, welcome to theCUBE. You have to say your last name for me. >> Patricia Maqetuka. >> Oh, you didn't click >> I did! >> Do it again. >> Maqetuka. >> Amazing. I wish I could speak that language. Well, welcome. >> Madhu & Pat: Thank you. >> Good to see you again. >> Madhu: Thank you. >> Let's start with IBM Think. New show for you guys you consolidated, you know, six big tent events into one. There's a lot of people, there's too many people, to count I've been joking. 30, 40 thousand people, we're not quite sure, but how's the event going for you? What are clients telling you? >> Yeah, no, I mean, to your point, yes, we brought in all three big pillars together; a lot of folks here. From data and analytics perspective, an amazing, amazing event for us. Highlights from yesterday with Arvind Krishna on our research. What's happening. You know, five for five, that was really inspiring for all of us. You know, looking into the future, and it's not all about technology, was all about how we are here to help protect the world and change the world. So that as a, as a gige, as an engineer, that was just so inspiring. And as I was talking to our clients, they walk away with IBM as really a solution provider and helping, so that was really good. I think today's, Ginni's, keynote was very inspiring, as well. From our clients, we got some of our key clients, you know, Nedbank is here with us, and we've been talking a lot about our future, our strategy. We just announced, Ginni actually announced, our new product, IBM Cloud Private for Data. Everything around data, you know, where we are really bringing the power of data and analytics all together on a private cloud. So that's a huge announcement for us, and we've been talking a lot with our clients and the strategies resonating and particularly, where I come from in terms of the co-ordinance and integration space, this is definitely becoming now the "wow" factor because it helps stitch the entire solutions together and provide, you know, better insights to the data. >> Pat from your perspective, you're coming from Johannesburg so you probably like the fact that there's all IBM in one, so you don't have to come back to three or four conferences every year, but love your perspectives on that, and can you please tell us about Nedbank and your role as Chief Data Officer. >> Nedbank is one of the big five financial banks in South Africa. I've been appointed as the CDO about 18 months ago, so it's a new role in the bank per say. However, we're going through tremendous transformation in the bank and especially our IT eco-system has been transformed because we need to keep up with what is happening in the IT world. >> Are you the banks first Chief Data Officer? >> Definitely yes. I'm the first. >> Okay. So, you're a pioneer. I have to ask you then, so where did you start when you took over as the Chief Data Officer? I mean banking is one of those industries that tends to be more Chief Data Officer oriented, but it's a new role, so where did you start? >> Well we are not necessary new in the data, per say. We have had traditional data warehousing functions in the organization with traditional warehousing or data roles in the organization. However, the Chief Data role was never existent in the bank and actual fact, the bank appointed two new roles 18 months ago. One of them was the Chief Digital Officer, who is my colleague, and myself being appointed as the Chief Data Officer. >> Interesting, okay. I talked to somebody from Northern Trust yesterday and she was the lead data person and she said, "I had to start with a mission. We had to find the mission first and then we looked at the team, and then we evolved into, how we contribute to the business, how we improve data quality, who has access, what skills we needed." Does that seem like a logical progression and did you take a similar path? >> I think every bank will look at it differently or every institution. However, from a Nedbank perspective, we were given the gift by the regulator in bringing the BCBS 239 compliancy into play, so what the bank then did, how do we leverage, not just being compliant, but leveraging the data to create competitive advantage, and to create new sources of revenue. >> Okay. Let's talk about, Madhu we talked about this in New York City, you know, governance, compliance, kind of an evil word to a lot of business people. Although, your contention was "Look, it's reality. You can actually turn it into a positive." So talk about that a little bit and then we can tie it into Nedbank's experiences. >> Yeah, so I firmly believe in, you know, in the past governance 1.0 was all about compliance and regulations, very critical, but that's all we drew. I believe now, it's all about governance 2.0, where it's not just the compliance, but how do I drive insights, you know, so data is so, so critical from that perspective, and driving insights quicker to your businesses, is going to be very important, so as we engage with Nedbank and other clients as well, they are turning that because they are incumbents. They know their data, they've got a lot of data, you know, some of, they know sitting in structure, law structure land, and it's really, really important that they quickly able to assess what's in it, classify it, right, and then quickly deliver the results to the businesses, which they're looking for, so we're, I believe in lieu of governance 2.0, and compliance and regulations are always going to be with us, and we're making, actually, a lot of improvements in our technology, introducing machine learning, how we can do these things faster and quicker. >> So one of the first modern pieces of work that Peter and I did was around data classification and that seems to be, I heard this theme before, it seems to be a component or a benefit of putting governance in place. That you can automate data classification and use it to affect policy, but Pat, from your standpoint, how do you approach governance, what are the business benefits beyond "we have to do this"? >> Like I earlier on alluded to, we took the regulation as a gift and said, "How do we turn this regulation into benefits for the organization?" So in looking at the regulation we then said, "How do we then structure the approach?" So we looked at the two prompts. The first was, the right to win. The right to win meaning that we are able to utilize the right to compete approach from a regulation perspective, to create a platform and a foundation for analytics for our organization. We also created the blueprint for our enterprise data program and in the blueprint, we also came up with key nine principles of what it means to stay true to our data. I.e. you mentioned classification, you mentioned data politic, you mentioned lineage. Those are the key aspects within our principles. The other key principle we also indicated was the issue around duplication. How do we ensure that we describe data once, we ingest it once, but we use it multiple times to answer different questions, and as you are aware, in analytics, the more you mine the data, the more inquisitive you become, so it is, (clears throat) Sorry. It's not been from data to information, information to insight, and eventually insights to foresight, so looking into the future, and now you bring it back into data. >> And also some points that you've made Pat, so the concept is, one of the challenges of using the fuel example, is that governance of fuel, is still governance of a thing. You can apply it here, you can apply it there, you can't apply it to both places. Data's different and you were very, very accurate when you said "We wanted to find it once, we want to ingest it once, we want to use it multiple times". That places a very different set of conditions on the types of governance and in many respects, in the past, other types of assets where there is this sense of scarcity, it is a problem, but one of the things that I'm, and this is a question, is the opportunity, you said the regulatory opportunity, is the opportunity, because data can be shared, should we start treating governance really as a way of thinking about how to generate value out of data, and not a way of writing down the constraints of how we use it. What do you think about that? >> I think you are quite right with that because the more you give the people the opportunity to go and explore, so you unleash empowerment, you unleash freedom for them to go and explore. They will not see governance as a stick like I initially indicated, but they see it as business as usual, so it will come natural. However, it doesn't happen overnight. People need to be matured, organization is to be matured. Now, the first step you have to do is to create those policies, create awareness around the policies, and make sure that the people who are utilizing the data are trained in to what are the do's and the don'ts. We are fully aware that cyber security's one of our biggest threats, so you can also not look at how you create security around your data. People knowing that how I use my data it is an asset of the bank and not an asset of an individual. >> I know you guys have to go across the street, but I wanted to get this in. You're a global analytics global elite client; I want to understand what the relationship is. I mean, IBM, why IBM, maybe make a few comments about your relationship with the company. >> I think we as Nedbank, we are privileged, actually, to be inculcated into this global elite program of IBM. That has helped me in actual, in advancing what we need to do from a data perspective because anytime I can pick up a phone to collaborate with the IBM MaaS, I can pick up the phone whenever I need support, I need guidance. I don't have to struggle alone because they've done it with all the other clients before, so why should I reinvent the wheel, whereas someone else has done it, so let me tap into that, so that that can progress quicker than try it first. >> Alright. Madhu, we'll give you the final word. On Think and your business and your priorities. >> So, Think is amazing, you know, the opportunity to meet with all our clients and coming from product development, talking about our strategy and getting that validation is just good, you know, sharing open road maps with clients like Nedbank and our other global elites, you know. It gives us an opportunity, not just sharing of the road maps, but actually a lot of co-creation, right, to take us into the future, so I'm having a blast. I got to go run over and meet a few other clients, but thank you for having us over here. It's a pleasure. >> You're very welcome and thank you so much for coming on and telling your story, Pat, and Madhu, always a pleasure to see you. >> Thank you. >> Alright, got to get in your high horse and go. Thanks for watching everybody, we'll be right back after this short break. You're watching theCUBE live from IBM Think 2018. We'll be right back. (electronic music)