Support Analytics Blog

This week’s issue of Businessweek featured an article titled, “The Best Places to Launch a Career”.  The foundation of the article is a list of the top 50 companies that hire college graduates.  What’s interesting about this article is the column that shows the most desirable trait these companies are looking for in the recruits.  Below is a summation of the six different categories:

1.  26% Leadership Skills

2.  26% College Major

3.  20% Analytical Skills

4.  12% Communication Skills

5.  8% College GPA

6.  8% Other

Twenty percent, or 10 of the 50 companies in the survey, had analytical skills as the most desirable skill they are looking for.  IBM was ranked number four on the list and was the first company that listed analytical skills as the most important.  Another intriguing fact is that only four of the fifty companies thought GPA was the most imperative trait. 

In an earlier post, I presented the fact that business analytics is the third most important technology project for a CIO in 2007.  Both of these ideas reinforce that fact that if your company isn’t competing on analytics, then you may need to rethink your strategy!

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On August 7^th, there was an article written on the DM Review website by Peter Graham, which you can get to by clicking here. 

Graham summarizes the article with this sentence:

1. There should be a Chief Analytics Office solely responsible for company-wide analytics; a true function, similar to Finance or Marketing
2. Analytics needs to be more than reporting data that already happened (little value)
3. Predictive analytics should be the immediate focus to differentiate in the marketplace (enormous value)
4. Organizations need to commit to analytics and value it as a true competency
5. Working intimately with the CIO is imperative to the success of an analytic function

The major challenge I see is the development of a platform that addresses both data warehouse and analytical needs.  There are many products that do a moderately good job at one or the other, but none that excel in both areas.

I believe the fundamental message of Graham’s is summed up in the table below, taken from Graham’s article.  The chart depicts the set of organizational shifts that need to take place in order for a CAO to be successful.

Note two very important points in the chart above; the shift of culture and business knowledge.  Functional departments need to stop hoarding the information they are responsible for, holding onto the argument that they are closest to the data and must know it best. 

Most often you have many different departments using their home-grown frankensheets (I have to give Rob Bruce and Juice Analytics credit for this one) to support their analyses.  There is much synergy to be gained by taking the analytic function out of the departments, who probably don’t boast the expertise, and giving it to the experts that would fall under the CAO.  I may be able to do a fairly good job building a deck, but an expert carpenter could get it done much faster and precisely by having all of the right tools and experience!

I would be willing to bet that you will start to see a shift in organizations to adopt the role of a Chief Analytics Officer very soon.

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In one of my earlier blog posts, I listed the five areas where I found successful managers excelled based on research I did for my thesis.  Last night, while perusing the new copy of BusinessWeek, I found a great article that lists seven tips for nurturing leaders in an organization.  The seven tips are:

1. Dare to differentiate
2. Constantly raise the bar
3. Don’t be friends with the boss
4. Become easy to replace
5. Be inclusive
6. Free up others to do their jobs
7. Keep it simple

I won’t go into the details on each of these, but check out the free article on BW’s website to learn more.  These are great tips and support some of my thesis research findings.   In general, I think managers fall short in many of these areas, but especially with number four.  Maybe it’s because they think they will be working themselves out of a job…  Many people tend to keep information to themselves and never find time to update documentation.  Can you say, “Job security”?  If you want to be successful in a management role, try improving in one or all of these areas!  Start today and I don’t think you will be disappointed come your next performance review.

I wanted to share with you a quote I read in a blog at Trusted Advisor.  The article is titled, “Seductive Analytics“, posted on February 12th.  In two previous posts, Start with the little things and 5 C’s to successful management, I mention the importance of integrity.  The quote below is very fitting! 

“Integrity is a lot like being pregnant…either you are or you aren’t…there’s no such thing as being a little bit pregnant.”

Three years ago, when I moved to Virginia from the Northeast, I went to the closest grocery store to stock my refrigerator.  The name of the store was Ukrops.  The store was extremely clean and very organized.  They asked my bagging preference and took my groceries out to my vehicle.  I thought to myself, I guess they do things differently down here in Virginia.  I proceeded to take out a few dollars to tip the young man.  He told me they cannot accept tips.  I told him, “nonsense”, and tried harder to reward him for his help.  He told me he could be fired for accepting the tip.  The exceptional service had nothing to do with being in Virginia, but everything to do with being at Ukrops.

The point to this story is the difference between Ukrops and the other local grocery stores.  Ukrops does all of the small things better than any company I know.  All of the employees are more than eager to help or just smile and say hello.  They promptly bag all of your groceries while you pay, then take them out and load them into your car.  The stores are extremely well stocked with premium items and are exceptionally clean.  After having to go to another grocery store out of necessity, I will never go anywhere besides Ukrops.  I will pay an extra few cents per item for better service, premium selections and a much more pleasant experience.

In the workplace, anybody can stand out by just doing the small things better than the next person.  Most of these things are common sense, but you would be surprised at how many people disregard them.  Staying with the Ukrops theme, below is my bakers dozen list of examples:

1. Always try to be positive and smile. Nobody likes the company of someone who’s miserable all of the time.

2. Be helpful by going out of your way to solve someone’s problem rather than add to it.

3. Treat everyone as a customer with the respect you would like to receive. 

4. Answer the phone when people call.  You never know who it might be.  You would be surprised at how many people just let calls go to voicemail.

5. Return emails and voicemails well within 24 hours.

6. Under-promise and over-deliver.

7. Dress not for the position you have but the one you aspire to have.

8. When people ask for something, try to deliver what they need as soon as possible.  People ask for things because they need them. 

9. ALWAYS do the right thing!  Integrity should never be compromised, period!

10. Take accountability for mistakes, learn from them and never make the same mistake again.

11. Always strive to be exceptional.

12. Take time to think strategically.  Too often we get caught up in day-to-day tasks.

13. Set and be the example!

By doing these small things each and every day, not only will you stand out from everyone else, but you will be more valuable to the organization and team.

I have always thought that managers are the ones who do things right, while leaders are people who do the right thing. This statement brings me back to my earlier post about the five C’s to successful management. A good manager will ensure that the process, whatever it may be, is as efficient as possible, whereas a good leader will ensure that their employees are being effective.

In my experience, I came across one of the best quotes that describe a true leader. Ironically, this quote was written between 300 and 600 B.C. by a Chinese Philosopher, Lao Tzu. What really hits home is the last sentence!“The best of all leaders is the one who helps people so eventually they don’t need him. Then comes the one they love and admire. Then comes the one they fear. The worst is the one who lets people push him around. People don’t trust a leader who doesn’t trust them. The best leader says little, but when he speaks people listen and when he is finished with his work, the people say we did it ourselves.”

A great speaker once said the following, which I live by in everything I do: “Leadership is the challenge to be something more than average!”