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

Ethics

I considered writing a book on the implications, needs, and requirements of ethics in analytics, but I decided against completing that project. Why? First, there are several very good books that have been published on the topic. Second, ethics should be part of our mindset in everything that we do. Given that belief, I felt that it was better to imbue this book, and every book that I will write in the future, with a subtext of ethics. All through the content of this book, I will discuss and call out how ethics impact and inform choices, and how to consider the ethics of the decisions being made.

Society, as a whole, is concerned about the implications of advanced analytics and artificial intelligence. Given what has happened with social media and the bad actors involved in those platforms, there is replace with: grounds for concern which drives the need for consideration that all innovations have the potential to be deployed and employed for unethical purposes.

Researchers, experts, pundits, company executives, government ministers, legislators, and others have written and spoken at length about the potential value and operational downsides of governmental interventions like the General Data Protection Regulation (GDPR) enacted by the European Union (EU) and the California Consumer Privacy Act (CCPA). One fact is for certain: we have passed the point where self-regulation by companies is an acceptable approach to constraining corporate policy and behavior in the use of data, advanced analytics, and artificial intelligence.

Governments are stepping in and will continue to step in. If building a business on a fair business proposition and providing value to customers, consumers, partners, and society is not enough of a guideline for corporate executive and managers, there will be more guidelines and regulations forthcoming from multiple jurisdictions.

Let's proceed under the premise that everything we do and all the choices we make in relation to data and analytics have the best interest of the consumer, customer, patient, and all involved in mind. Let's also keep in mind that the further we stray from this core premise, the more likely it is that we will cause harm to our business, reputation, and the wellbeing and peace of mind of our customers, patients, and broader society.

The further afield we take our efforts away from being ethically aligned, the harder the fall will be when the correction comes from either internal or external forces. Be assured that we will be forced to explain our actions and efforts at some point in the very near future.

Transparency, ethical actions, and honesty will be our guiding principles.