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

Do you really need a budget?

Budgets are many things to many people. For most people, they are a way to keep score. Who has a bigger budget? How can you take money from someone else's budget? However, what if you didn't need a budget?

In an advanced analytics and AI team, you really do not need a discretionary budget. Of course, you need money to pay for salaries, incentive compensation, desks, office space, travel and entertainment, and setting up your team with the appropriate technologies, but after you have the team hired, the infrastructure built, and the software installed, do you need a big or any additional budget to be effective and to deliver results? Trust me, you don't.

I have had multiple roles where budgets were tight. Actually, I am having a hard time recalling where budgets were freewheeling and we were let free to spend whatever we wanted. The point is that budgets are always controlled and restricted.

Since the advanced analytics and AI...