Book Image

Building Analytics Teams

By : John K. Thompson
5 (1)
Book Image

Building Analytics Teams

5 (1)
By: John K. Thompson

Overview of this book

In Building Analytics Teams, John K. Thompson, with his 30+ years of experience and expertise, illustrates the fundamental concepts of building and managing a high-performance analytics team, including what to do, who to hire, projects to undertake, and what to avoid in the journey of building an analytically sound team. The core processes in creating an effective analytics team and the importance of the business decision-making life cycle are explored to help achieve initial and sustainable success. The book demonstrates the various traits of a successful and high-performing analytics team and then delineates the path to achieve this with insights on the mindset, advanced analytics models, and predictions based on data analytics. It also emphasizes the significance of the macro and micro processes required to evolve in response to rapidly changing business needs. The book dives into the methods and practices of managing, developing, and leading an analytics team. Once you've brought the team up to speed, the book explains how to govern executive expectations and select winning projects. By the end of this book, you will have acquired the knowledge to create an effective business analytics team and develop a production environment that delivers ongoing operational improvements for your organization.
Table of Contents (14 chapters)
12
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13
Index

Competitive advantage or simply staying competitive

First, you should consider outsourcing certain projects to competent, capable, and proven third parties. The projects to be considered are those that others in your industry have completed and are now considered tables stakes to be competitive at the new level of efficiency and effectiveness that the industry operates at or that the market, customers, suppliers, and patients demand. Projects like inventory management, supply chain efficiency, or designing servicing maps for optimal territory coverage by a sales team – these are projects that have been successfully executed across numerous industries with well-known and published success stories.

Find an experienced third party with a long track record of success and outsource the project. Of course, you need competent team members to manage the project, but you do not need analytical professionals to manage this relationship and process. To be clear, you cannot wash your...