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

Selecting Winning Projects

Man does not simply exist but always decides what his existence will be, what he will become the next moment. By the same token, every human being has the freedom to change at any instant.

—Viktor Frankl

Before we go further in our discussion, let's take a moment to define winning projects. Winning projects are those analytics projects that are widely understood by business executives, sponsors, subject matter experts, project review members, portfolio managers, finance professionals, and the analytics team. Winning projects are prioritized in the analytics backlog and chosen as areas of strategic and tactical importance to the success and improved operations of the company. The most important and selected analytics projects are then measured and compared to a wide range of other projects that the company needs to execute, and the final selection process is undertaken. The resulting projects have been carefully scoped...