BAKU, Azerbaijan, October 11. Kapital Bank has created a centralized structure for data transformation, Head of Kapital Bank's analytics department Seymur Shabanli said at the "INMerge Innovation Summit," which PASHA Holding is organizing for the fourth time, Trend reports.
According to him, the process of data transformation is an ongoing endeavor, and attaining a complete state of data readiness cannot be accomplished in a single leap.
“Organizations ought to evaluate their existing data maturity level and ascertain their current position as well as their desired trajectory. Transitioning directly from utilizing Excel to implementing AI or generative AI is unfeasible,” he said.
He noted that data transformation is a journey that unfolds over time.
“One has to consider how large the organization is and what its level of maturity in working with data is. At Kapital Bank, we were at an average level: we had some experience, but we needed further development. For this purpose, the bank created a centralized structure in the form of a “Center of Excellence," attracting specialists there. At the same time, within the matrix structure, analysts worked within different business units, which formed a hybrid model of organization,” he added.
Shabanli laid out three cornerstones of data transformation: culture, organization, and technology.
“We have strategically leveraged all these dimensions by launching innovative initiatives across each of them. On the tech front, we have launched innovative solutions by establishing a robust infrastructure and dynamic technology framework to seamlessly pivot towards emerging data practices. On the cultural front, the bank launched dynamic workshops and innovative training programs, and in the realm of organizational evolution, we executed a cutting-edge hybrid transformation. This strategy proved effective as the "Center of Excellence" empowered both teams lacking data proficiency and those that had already embraced data-driven methodologies. Our objective was to achieve swift outcomes and showcase the impact of our initiatives,” he explained.
To note, "INMerge Innovation Summit," organized by PASHA Holding, is designed to contribute to the development of the innovation ecosystem in Azerbaijan by bringing together startups and investors, providing opportunities for cooperation, as well as creating a platform for the exchange of ideas and experience between all participants of the innovation ecosystem.