The emerging role of the analyst…

6 10 2011

A few days ago, I wrote about the analyst function being dead, which spurred conversations about the emergence of a new breed of analysts. Organizations, with all of their investment in data capture, data generation, and business intelligence, still struggle to use data effectively to make decisions. With the explosion of data over the last couple of decades, the analyst moved away from business and morphed into an IT role.  The role became more about writing business requirements and providing reports than understanding data and helping the organization digest meaning from it.

Now the analyst needs to move back to a business role, but with more of a mathematics and statistics background.  They have to be curious about improving the business and have the acumen to do it.  They need to know how to blend traditional data with today’s non-traditional data feeds from blogs, social media, video, etc.  The value of the analyst is back in creating business value through relevance, context, and timeliness.

To achieve this, the emerging role of the analyst requires a new skill set and must:

  • Understand how to derive information out of data and present it in business terms – this is perhaps the most important of all of the new skills.  The analyst must be able to take a tremendous amount of information and coalesce that information into business terms leading to action.
  • Integrate various types of information – as data is coming from all different places and in new forms, it is increasingly important to understand how and when to leverage potentially rich data, and decipher what is irrelevant quickly.
  • Design problems with various concepts – the analyst needs a consultative style in which different models are applied to solve ever more complex issues.
  • Use technology – with Business Intelligence, Planning, and Predictive Analytic style software becoming easier to use, the analyst needs to know not only how to use these tools, but when to use them.
  • Delegate – traditionally the analyst needed to do everything.  Now as technology, data sources, and businesses have become more diverse, the analyst needs to know how to farm out some of the analytics to specific expertise at the right time, guide the project, and integrate the results.

The analyst also needs to transform informational projects into a process where requests for information are appropriately managed. This includes breaking down information into four areas: persistent information or basic reporting of facts on a regular timeframe; performance measures that have higher level KPIs; problem analysis; and data exploration.

Gone are the days where the analyst was a report writer, spending too much time on data acquisition.  They must now know how to enhance data to get more out of it in a timely and fashion and present that back to the business in a manner that drives value creation.





When More is much, much Less

2 08 2011

Recently I was cleaning up my Gmail inbox and it was clear to me that some people treat email like free marketing.  For example, Dick’s Sporting Goods was sending me 3-4 emails a week.  While I shop at Dick’s Sporting Goods and like the brand, it was very clear to me that they really weren’t paying attention.  My lack of response, nor opening of any emails should have been a trigger to them.  More was much, much less.  They were not alone, but one of the worst examples of over-communication.

Thoughts for email marketing:

  • Use the information effectively.  Not only have I asked them to stop emailing me all together, they have hurt their brand standing with me.
  • Test your campaigns.  Because they are free doesn’t mean everyone should get everything.  That’s just laziness.  There are too many tools out there not to be able to do some type of segmentation based upon gender, usage patterns, social, and economic demographics.
  • Learn! This is probably the most important aspect.  If a customer gives you their email address, then treat it like a valuable asset and learn from it.  It is not a resource to be used up.  Offer different things at different times, send emails in different patterns, send different offers and test the response.  And if they don’t respond to anything, pull back and wait.

I know this sounds way too obvious, but here is an example from someone with the size and clout to know better.  Chances are your marketing organization is overusing their free marketing channel and just don’t know it yet.  Go ask them for an analysis of how many emails are being sent out to each customer segment each week.  Ask them how often they clean up their contact list to trim out people who have never responded. And wait for the dreaded, “we don’t want to skip anyone in case this is the campaign that will get their attention.”  Trust me, there is a breaking point.





Strategy & Operational Performance Management Survey

21 07 2011

If you have a moment, take a few seconds to fill out a survey.  I’ll post some of the more relevant survey results here over time. Basically 7 questions and a place to fill in your answer if you want to share more.

Link to survey





Simon Sinek & the Golden Circle

11 07 2011

The RIM letter to BGR referenced a video from Simon Sinek on TED.  While I think he makes an incredibly difficult task seem a little too easy, I think he certainly raises some interesting questions.  He talks about the Gold Circle, how we market the what instead of the why.

Execution is far more difficult than transforming the marketing message from the “What we do” to the “why we do it”, it is more about leadership and a unique focus on the customer that is not easily replicated.

Anyway, here is the video….

http://www.youtube.com/watch?v=qp0HIF3SfI4&feature=youtu.be





Obesity in the US

29 04 2011

This is again perhaps a little off topic for me, but it does pose some really interesting strategic points for consideration…

The cigarette of today’s generation is fast food, sodas, and poor eating habits in general.  Obesity in the US is projected to be about 20% of our annual health spending – or roughly $350 billion (USA Today) by 2018.  This means the number will double from 10% of the spending to 20% by 2018.  Food related deaths account for more than half of our causes of death (CDC) and we focus very little attention to it.  And for the first time in decades the US life expectancy is projected to decline by 5 years (National Institute of Health) with this generation.

So from the viewpoint of Strategy, this poses a wild number of potentials.  Depending upon your industry this either opens you to a tremendous opportunity, or a concerning level of risk.

Opportunities:

  • Food industry – being an early mover to healthier versions of your food may attract more customers
  • Education – providing content for school, churches, communities, etc may open more doors for you
  • Healthcare – with increasing costs, providers that can target care to show health gains with children, or keep their clients healthier may see improved demand for their products while at the same time controller their costs.
  • Marketing – Branding your self as a healthy alternative
  • HR – being seen as a healthier employer may improve your retainment and attraction to new employees.  You may also see a reduction in your health care costs over time.

Risks:

  • Fast food – This entire industry may be about to come under ever increasing levels of attack.  The attacks will likely be on menu, ingredients, nutritional labeling, and potentially lawsuits.
  • Sports drinks – As parents become more aware of the level of sugar in these drinks, demand is certainly at risk.  As one of their core segments is children, it is also possible that even the marketing placement will be called into question.
  • Education – As Jamie Oliver’s Food Revolution has clearly pointed out, he is certainly targeting the school system menu.  Once the parents get involved school district lunch menus will likely need to change dramatically.
  • Healthcare – spiraling costs will force most healthcare companies to make very difficult decisions to remain profitable.

Here is Jamie Oliver’s presentation on TED.

Here you can see the growing obesity problem in the us (CDC).





Zombie Initiatives and Tasks

5 01 2011

Over the holidays I heard a story on Zombie Processes.  It reminded me of the number of these I have come across in business.  One of the luxuries of being a consultant is you get to ask “why do you do that” or better yet “what would happen if you didn’t do that anymore”.  As businesses grow and scale we often pick up a number of new initiatives, or increase the subtasks, and never kill off old ones.  We also inherit more and more “stuff” that people do that does not necessarily add value.

Zombies: A Zombie initiative/task is something that continues on because no one has done the favor of saying it is either over or complete.  It can also be a task that exists that no longer needs to exist.   Basically it is inefficient effort and time.

Do these exist in your organization? Absolutely and everywhere.  The key is not trying to fix them all at once – this will get you nowhere.  What makes the most sense is to identify your strategic goals and initiatives and start with the processes that support those goals.

Where do you start? Take a look at your critical initiatives across the organization.  Ask yourself which ones are going to provide the most strategic value over the next 12 months.  Pick 3 and define the value of those initiatives.  Are they about increasing/decreasing time, revenue growth, cost cutting, elevating customer value?  Figure out how improvements should be measured.  Set up serious targets and a process to manage improvements.  Roll up your sleeves and get rid of the Zombies.  And while again this is self serving, it does not make it less true – hire a consultant.  Have someone independent to the organization ask the questions.  Especially if this is a new concept inside the organization.  People don’t like change, they fear it will expose them or put them at risk.  This can lead to the wrong motivation for process improvement.

 

Stuff:  This can be projects, tasks, subtasks, processes, or simply job justification work.





Remember When…Google was the Anti-Microsoft

15 11 2010

Today, Facebook launched a new email service.  It has long been in the works as Project Titan.  While perhaps not a direct threat against Google, it is certainly an attack on Gmail.

Remember back to the good old days…when we walked uphill to school in the snow both ways, when children actually played baseball (and not the video game version), when information was delivered with ink and paper, when cell phones were the size of our heads…

…err I digress, remember when Google was the white knight against Microsoft.  We wanted to use Netscape just to make Microsoft mad, but IE was just better.  Ah, yes the good old days and the turn of the century.  Was it really just in 2000 when they signed the pact with Yahoo to make them the default search engine?  A mere decade it took them to go from White Knight to feared Big Brother.  It took Apple 26 years to go from 1984 to being mocked by Futurama with its Eyephone or from having their great anti-Microsoft ad campaign spoofed by TMobile in Piggyback.

Has Google really done this in less than 10 years?  We will soon see.  Earlier this month Google found itself in a little hot water over their StreetView cars that were driving around picking geographically based personal information.  I understand that personal privacy may be dead, but I would venture a bet that if there is a backlash it will be aimed squarely at Google (and ironically in this case Facebook).

Clearly not all markets move at breakneck speed, but it does tell a story of thinking about tomorrow in a more methodology approach.








Follow

Get every new post delivered to your Inbox.