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

Data

The earliest form of recorded data that exists and is readable and still usable are accounting records from the Sumerians, dating from approximately 3400 B.C. [2] Data has been with us for many thousands of years and will be with us forever.

Single sources of data are useful ensembles of multi-source integrated data that is much more valuable and useful. Data is being generated at a staggering pace. Bernard Marr commented in Forbes:

The amount of data we produce every day is truly mind-boggling. There are 2.5 quintillion bytes of data created each day at our current pace, but that pace is only accelerating with the growth of the Internet of Things (IoT). Over the last 2 years alone, 90 percent of the data in the world was generated. [3]

If 90% of the world's data was generated in the last 2 years, that means that we have an issue with immediate data overwhelming historical data. Do we need every reading from a light bulb indicating that it is...