On this episode of The Data Storytellers podcast, we delve into the transformative role of data in revolutionizing financial services. Our guest, Sameli Mäenpää, a seasoned Chief Data Officer, shares his extensive experience in enhancing business strategies through data analytics within the financial sector. We explore the critical aspects of developing a robust data-driven culture that not only complies with regulatory standards but also significantly enhances customer service and business efficiency. Throughout our discussion, the focus remains on practical approaches to leveraging data for competitive advantage, the importance of data governance, and the ethical implications of data utilization in finance.

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00:08 - Introduction and background of Sameli Maenpaa

00:52 - Starting the journey towards data integration in financial services

05:13 - The transformation of data analytics over the decades

10:17 - Detailed discussion on the concept of a data balance sheet

14:07 - Strategies for effectively communicating data's value internally and externally

19:47 - The business implications of data ownership and operational challenges

23:35 - The role of data as a currency in modern business practices

28:47 - Techniques for effective communication and influence in data management

34:52 - Future challenges and opportunities in leveraging data within the financial sector

37:50 - Closing thoughts on the evolution of data analytics in business