Nurturing a data culture with a data mindset – case study #1

The aim of this chapter is to showcase real-world examples of the principles and practices we’ve discussed throughout the book. In this case, we will look at The Bank of East Asia (BEA), Limited (https://www.hkbea.com), a financial institution committed to fintech and digital transformation as a competitive edge. The BEA recognized the importance of data literacy across its organization and sought to instill a culture of data utilization among its staff.

The BEA faced several major pain points that needed to be addressed:

• The primary challenge was to shift the mindset of employees at all levels toward embracing a data-driven approach in their roles
• The bank also lacked a unified data language, which was critical in fostering effective communication and collaboration among the staff
• Finally, the bank needed to ensure that it had the right tools and standardized data processes in place to successfully...