Shawn, I think when we talk about analytics talent crunch, it's more so on the starting level than the highest levels that would feed into a CAO type of role. That type of role also can come from other business areas, like CIO or CMO
Business analysts abound - it may be an idea to recruit one or two and attach them to the one analytics guru - just to shadow him/her for a while and learn the ropes, then delegage some tasks, then spin them off as sub-gurus
two directions analytics going -- analytics for human consumption. visual for that. but other side is getting more embedded with analytics, machine to machine. so that'd be a waste to put up visuals for that. but for human side need visuals
Michael, yes -- traditional mentoring. But one of the challenges is some organizations are just getting start or just growing departments from a body of one. So that sort of tiered learning might not be available.
Analytics not a popular piece of MBA programs historically. But now starting to weave back in. BUt good thing about programs like NC State's Master of Analytics is that pulls students from all over the school.
NC State program is commonly cited, Davenport points out -- BUT, but, but, only turning out about 40 grads/year. That's an interesting stat. Won't barely address the impending shortage of analytic talent.
Michael -- to what business aim, though. Analytics for the sake of running some models doesn't do anybody any good. They have to have defined business challenge before heading down that partnership. Oh, and don't forget IT. Got to be in there, too.
I'm thinking it may be an idea to pair an analytics expert with a sales expert and let them run with some models over a 3-month or 6-month period, then chart and communicate their experience. if they haven't killed one another first.
Shawn, true, but it's companies have to apply real effort to the customer focus from an analytics focus. It sounds obvious, but that's not how they've built up their processes over the years so it's not easy whatsoever.
We can step back and peel back essence of analytical organizations. But what Accenture finds with clients if what can we do differently? How can analytics help? But weakness around one or two things that will be real differentiator. Not linking analytics that could be brought to that problem -- that thing that can catapult the business.
But part and parcel of the culture question is the speed question. If I need to file a request with IT so they can run some models or queries and it takes a couple of days, I'm not going to see tremendous value there.
KBB's Hushman has his own example. Able to price discriminate on individuals coming to this company for a loan (prior to him joining KBB). Built an elasticity model on how to adjust its rate offers based on what customer came to. Profits increased over 4X as a result, in real time. Productionalized model, existing in real time.
The gap is being closed data-driven and gut feel -- which is good. I think still always need gut to some extent, but obviously, the strong the data, the analytics, the communication of the results, the better the decision potential.
And, I'm looking forward to hearing more on what Kelley Blue Book is up to lately with analytics. Back in September 2011 KBB had been thinking about, but not quite ready to move on high-performance analytics, for example.
Here's where we'll be chatting live from the SAS Global Forum Executive Conference session, "Wake-Up Calls: An Analytical Story of Talent, Culture and Struggles," featuring analytics thought leader Tom Davenport and speakers from Accenture, Harvard Business Review, Kelley Blue Book, and SAS. Whether you're attending the session live in Orlando or via live simulcast (register in advance), join in the conversation!