The Gold Coin approach
Gold Coin is a contained project that leverages the power of advanced analytics to create tangible value from data that may not have been tapped previously. A Gold Coin is usually an easily manageable sized project that has small but measurable value that grows over a period of time. The growth in economic value of a Gold Coin happens because of the higher appreciation of the benefits of the outcome from the project and/or greater adoption across your business. I was first introduced to the concept of Gold Coins by Mr. Howard is currently Senior Vice President of Innovation and Development at Allstate Insurance in US. Howard has spent decades in his career across various companies and industries identifying these small nuggets of value from data and analytics while striving for the larger benefits.
Gold Coins are a great way to rally organizational excitement and energy for a broader pursuit of data and analytics programs. There are a number of reasons for this:
The...
