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

Labor market dynamics

As of late 2019, the United States is experiencing one of the longest economic expansions on record. The current unemployment rate in the United States is below 3%. Hiring practices have needed to evolve to ensure that employers can continue to find employees. Of course, this will change as the economic cycle ebbs and flows, but at this time we have an opportunity to bring in talented, skilled, and committed employees who may have been sidelined due to disabilities, personal situations, or other unfortunate life events:

With the national unemployment rate now flirting with a 50-year low, companies are increasingly looking outside the traditional labor force for workers. They are offering flexible hours and work-from-home options to attract stay-at-home parents, full-time students, and recent retirees. They are making new accommodations to open jobs to people with disabilities. They are dropping educational requirements, waiving criminal background...