Create Value Through High Performance Analytics TeamApril 28, 2015
Analytics has gained due importance over time. As companies make huge investments in analytics as well as create in-house analytics team; there is an outright desire to ensure that the investment doesn’t go in vain. Hence, all effort to made to hire the best people, those who possess analytics knowhow as well as provide training to perfect analytics professionals. Below is the ideal process that firms should adopt to create a high performance analytics team:
Recruit: Never compromise while recruiting. Choose nothing but the best. If this step is taken carefully, the rest will fall in place. Judge the person on the basis of important skills: Structured thinking, Business understanding and problem solving, Attention to details, ability to triangulate numbers & do back-of-the-envelope calculations are important and so are Communication skills. Judge the candidates via multiple rounds of role-play as well as interactions.
Train: Once you have successfully cleared the first step, it is equally essential to provide the requisite training and resources. For this you may avail the “Business Analytics Professional” training from Imarticus Learning or indulge the in-house expert staff for the same. Corporate training by an institution like Imarticus Learning is highly recommended, as it comprises structured thinking and writing, basic statistics knowledge and subject matter expertise for business understanding.
Foster Analytical thinking: Analytical thinking requires professionals to adapt to the situation and different scenarios. This will emerge when people are provided the culture that accentuates it. Let the business analysts’ work closely with the business team and give them the opportunity to handle bigger roles whenever possible to ensure feedback on a regular basis. Brainstorming and knowledge sharing sessions are critical to gather creative ideas and further evolve structured thinking among all.
Manage Performance: Once you have your team in place and a culture that fosters analytical thinking, ensure that they handle the challenging problems with utmost sincerity. For this, acquaint them with the objectives and the problems that are keeping you from achieving the desired results. Once they have accomplished the tasks, provide them with the feedback based on performance. Do not overload them with excessive projects and ensure you monitor whatever has been assigned with utmost dexterity.
These best practices will your firm build a high performing analytics team that delivers results.