Search

You may also like

36 Views
Apple could be planning to build a Mac using a single piece of glass
Technology -

Apple could be planning to build a Mac using a single piece of glass

A recent patent filed by Apple reveals a design for a curved Mac, built from a single sheet of glass. The device would be shaped a bit like an L, with the bottom portion built to hold a keyboard and touchpad. Source link No related […]

36 Views
10-year-old boy brutalized with hot pressing iron by Alfa
Celebrities - Comedy - Entertainment - Local news - Movies - Music - News -

10-year-old boy brutalized with hot pressing iron by Alfa

A 40-year-old Islamic Cleric identified as Wasiu Faruq has been arrested by the Kwara State Police command for brutalizing a 10-year-old boy with a hot pressing iron.  The Islamic cleric who left the boy with injuries perpetrated the said act at Onilaru area of Ogidi in Ilorin, Kwara State's […]

36 Views
Nicki Minaj’s brother, Jelani Maraj sentenced to 25 years in prison for raping his stepdaughter
Celebrities - Comedy - Entertainment - Local news - Movies - Music - News -

Nicki Minaj’s brother, Jelani Maraj sentenced to 25 years in prison for raping his stepdaughter

Nicki Minaj's brother, Jelani Maraj has been sentenced to 25 years in prison for repeatedly raping his 11-year-old stepdaughter. Jelani who was handed his jail sentence by Judge Robert McDonald in a New York court on Monday January 25, was found guilty of predatory sexual assault against a child […]

www.gistpad.com.ng

Making Analytics Simple For Your Team

Business Tips

Making Analytics Simple For Your Team

Arthur Nielsen, market research pioneer and founder of the Nielsen Corporation, once said, “The price of light is less than the cost of darkness.” As data proliferates across the enterprise, this observation by Nielsen is rendered even more relevant, because data represents the unlit fuel that has the potential to light the darkness, but which often lacks the spark of analytics that enables us to see.

The mission of enabling data analytics in today’s enterprise is hobbled by the lack of the requisite skills in the marketplace, including: advanced statistics/mathematics, new analytics methodologies, advanced systems analysis, business fundamentals, regulatory and legal understanding, and general IT technical and data architecture skills.

To cope with the shortfall in market supply, companies need to better leverage their existing talent. Having founded a data management company and worked with hundreds of organizations over the past 20 years to execute their information management and analytics initiatives, I’ve found the groups that are able to successfully utilize their company’s analytics technologies often take the following approaches:

Build a team. One strategy is to take the team approach to cross-pollinate and commingle the required skill sets; bringing together a diversity of skills and backgrounds from within your organization to achieve a common goal is a highly effective method.

Start by identifying the characteristics and needs of your organization’s environment. For example, highly complex product and service environments will require domain experts or subject matter experts. Simpler product environments will require experts in operations, logistics, and supply chain. Formulate teams that reflect your particular needs, and consciously design your team’s framework and composition to transfer skills across functional or organizational boundaries.

Find the supporting players. I suggest going outside your department in order to lay the foundation for functional analytics initiatives. It will be productive to search across your organization for a few relevant skillsets that will enable your team to make use of the data available:

  • Data analytics experts: They understand the basics of analytics and can navigate between what’s possible and what’s relevant, using the latest methodologies and technologies available.
  • Data experts: They understand the data formats, the layout and content, especially the data schema and interrelationships.
  • Data architects: They know how data is stored and architected, including the plumbing that connects them. The perfect theoretical analytical approach can crash ignominiously when it takes an impossible amount of time to simply access the data. Particularly in these days of heady cloud adoption, one should be sensitive to latencies involved in moving data to and from the cloud.
  • IT technology and process experts: They understand the nature of the data flow and operational processes. They play an important role in leveraging available IT tools to access data while being aware of key issues.
  • Records managers: They are the curators of business records, both physical and digital. They know the locations of important documents and how they are categorized and cataloged.

Seek creativity and curiosity. The foregoing is a good start at convening a team of diverse skill sets in order to enable, if you will, “analytics for the rest of us.” However, there is one set of essential traits to be found in your team that will drive the initiative. Seek individuals who are innovative, frugal, and creative, who produce maximum results with minimal resources. In data analytics, such combinations of creativity and flexible thinking can make a huge difference in producing actionable results, while reducing time, effort, and costs.

For example, I spoke with one data analyst at a payments processor who claimed to predict riots with a high level of accuracy in the wake of the Ferguson unrest. One would have thought it was from comprehensive analyses of complex demographics and collections of red-flag news indicators of social discontent. It wasn’t. He simply tracked the sales of riot-related components such as crowbars and flammable fluids from major hardware outlets and looked for spikes in purchases that exceeded a certain threshold.

This combination of creativity and curiosity is difficult to teach but essential to effective analytics. Finding team members with such characteristics can make all the difference.

Make the data usable. Given that you’re unlikely to find an abundance of individuals with exceptional data management skills, it’s necessary to employ methodologies and…

Continue Reading…

Source

Harvard Business Review

Related topics Animals, Dogs, People
Previous post Next post

Your reaction to this post?

Leave a Reply

avatar
500
  Subscribe  
Notify of

You may also like

0 Views Views
Our government hates us- Bolanle Olukanni, Ifuennada, others react to Lagos state government’s decision to ban Okada, Keke NAPEP
People

Our government hates us- Bolanle Olukanni, Ifuennada, others react to Lagos state government’s decision to ban Okada, Keke NAPEP

Bolanle Olukanni, Ifuennada and other Nigerians are reacting to the decision of the Lagos state government to ban Okadas and Tricycles from operating in some parts in the state.   The state government announced the ban on the operations of Okada and keke Napep riders in certain parts […]

0 Views Views
Lagos state government bans Okadas, tricyles, including Opay, Gokada from operating in parts of the state
People

Lagos state government bans Okadas, tricyles, including Opay, Gokada from operating in parts of the state

The Lagos State Government has banned the activities of motorcycle riders popularly known as Okada riders and tricycle riders in six Local Government Areas (LGAs), nine Local Council Development Areas (LCDAs) and 10 major highways across the State. Also banned are ride hailing services, OPay […]

0 Views Views
Apple could be planning to build a Mac using a single piece of glass
People

Apple could be planning to build a Mac using a single piece of glass

A recent patent filed by Apple reveals a design for a curved Mac, built from a single sheet of glass. The device would be shaped a bit like an L, with the bottom portion built to hold a keyboard and touchpad. Source link No related […]