NewVantage Partners: a leading-edge expertise in data strategy
Randy Bean
Founded in 2001 and headquartered in Boston, NewVantage Partners (NVP) serves as trusted strategic advisors for data-driven business transformation. Randy Bean, CEO and Founder, shares the story of NVP, his expertise in data strategy and why he joined Wavestone.
Randy, as CEO and founder of NewVantage Partners, can you tell us more about the firm?
NewVantage Partners (NVP) was founded in 2001. We advise Fortune 1000 companies and other large clients on data-driven leadership. This entails activities ranging from data strategy through data execution.
We help our clients manage data as a business asset, which includes building a corporate culture where data is valued and appreciated as a strategic differentiator and managing data efficiently and effectively so companies develop trust in their data and can provide business decision-makers with the data they need when they need it.
Our clients include leading blue-chip firms across industries. Our greatest concentration has been in financial services because these companies maintain high-value customer relationships and have been investing heavily in data capabilities for decades. Health and life sciences has been a growing area for us as these firms accelerate their efforts to organize and analyze data across drug discovery and product lines.
What is “data strategy”? And where does NVP’s expertise in this field come from?
Data strategy refers to the plans, processes, and actions that enable an organization to become data-driven, and to derive business value from their data and analytics investments.
Our work with clients includes major transformation efforts that enable leading companies to become data-driven organizations. These activities range across data strategy, data governance, data management, and business change management. We often work with organizations by bringing the expertise to lead these initiatives from the top, including operating as a firms Chief Data Officer or as heads of Data Governance, Data Management, and Data Science functions.
We recognize that becoming data-driven is a journey that plays out over many years. We strive to ensure that clients begin with business use-cases that are tied to critical business initiatives and will result in measurable business value. Our experience is that strong business sponsorship for data initiatives correlates with commensurate business success.
NewVantage Partners has historically distinguished itself by the senior expertise that we bring to bear, as well as our industry thought leadership. Our senior partners, now and over the years, have held senior executive and C-level positions with leading blue-chip companies.
Our thought-leadership comprises over 175 published articles over the course of the past decade in Harvard Business Review, Forbes, MIT Sloan Management Review, and The Wall Street Journal. Our annual C-executive survey on Big Data and AI Leadership was first published a decade ago and has become the industry standard.
Why did you choose to join forces with Wavestone?
Wavestone represents the perfect partner for our firm in two very important ways.
First, Wavestone is a rapidly growing firm with a growing global presence. We live in the Age of Data, with data volumes and types proliferating exponentially each year. Major companies are adopting the Chief Data Officer role in the C-suite. Wavestone provides a platform for us to extend our data leadership capabilities of a global basis.
Second, Wavestone has a deep expertise in data and information security, which is becoming an essential priority for all businesses. The marriage of data strategy, data governance, data management, and data security creates a true end-to-end capability that will help all of our clients establish a leadership position in data with infrastructure and data security and protection that they can rely on.
We look forward to extending our expertise in data-driven leadership on a global stage with Wavestone, and deepening our expertise in data, from strategy through execution and into data security, which is rapidly emerging as one of the most urgent business issues facing leading companies across the globe.
NewVantage Partners: a leading-edge expertise in data strategy
Listen to Randy Bean, CEO and founder, tell the story of NewVantage Partners, his data expertise and why he joined Wavestone.