Talent

Talent was a big area for debate across the conference. Whilst some agree that there is a serious talent deficit, others disagreed so far as to say there is too much talent. However, in a world where Data Science is sexy, doesn’t everyone want to be a data scientist? And a point that needs to be considered is how  truthful people are when applying for these roles, the draw of big money and potentially status could lead to the mythicality of unicorns being proven undoubtedly. This is a dangerous situation for all involved within the analytics space. If organisations invest in analytics, and particularly in their teams and departments, for true value not to be delivered this can damage the reputation, belief and backing of the entire effort. So when hiring it is key to make sure that you have the right talent within your teams and that they can deliver on their promises.

Basically, the role of the Chief Analytics Officer (CAO) and analytics as a function runs the risk of becoming a gimmick if the value is not proven – and proven quickly – to gain that internal backing. One of the common things that we hear is that analytics departments should provide long term incremental growth, along with smaller quick wins to gain that initial buy in. However, it is also important that you are agile in the ways that your teams and individuals work – Test and Learn – Fast! Otherwise, you run the risk of your competitors overtaking you and losing internal interest and support.

Teams

When it comes to building your team and department, there is no ‘one size fits all’. However, one thing that everyone agreed on is that you need to have a diverse range of skills within your team.

Ideally, you should target specific people for their specific skills and backgrounds, have a mix of mathematicians, statisticians, econometricians and sometimes even journalists (amongst others)! Also, remember that internal education is really important. Never undervalue the opportunity for your team members to learn from one another.

So how do you get the wider business to believe in you, your team and the potential for positive change that analytics can bring?

Tactics

One of the key things you need to create is the need (and want) for analytics and insights, and undoubtedly internal partnerships and understanding are paramount in importance when setting up an analytics function. There are many tactics you can employ, however, one of the most recommended ways was to establish an analytics council. Create an open dialogue with the business by inviting the key leaders and stakeholders to meet on a regular basis to discuss and prioritise their challenges. This puts analytics at the forefront of their thinking when trying to generate solutions to their problems, it also helps encourage open communication, relationship building and mutual respect. Additionally, create Analytics Champions within other departments to help combat any animosity or resistance, build partnerships with people that have a keen interest in what you are doing and they can help to evangelise within the rest of the business.

Identify challenges where delivering insights from analytics will make the biggest difference as quickly and easily as possible initially. Once areas of the business see value being created they will start coming to you for help. Additionally, create Analytics Champions within other departments to help combat any animosity or resistance, build partnerships with people that have a keen interest in what you are doing and they can help to evangelise within the rest of the business.

Be seen as a profit making organisation, not a support function

Make people want to come and talk to you!  A good way to do this is to become really good at storytelling, share with the company the projects you are working on and the outcomes of those projects, be that via a blog, newsletters or meetings. Gain ‘friends’ by promoting divisional wins – not analytics wins, and contextualise your findings by telling a story and providing comparative metrics to frontline employees so they can understand and see the real value in what you are doing. If people within your team aren’t the best communicators, train them to be, prioritise communication as a skill and send them on courses and organise ways that they can learn from other areas of the business. One quote that stood out to me at the conference was “act like an internal consultant and think like a marketer”, try to create an analytics brand, make it cool, be approachable and be able to communicate on a level that is appropriate for your internal customer.

Act like an internal consultant and think like a marketer

Location, Location, Location – everyone says when buying a house that location is EVERYTHING, however believe it or not this also applies to your analytics department too. Physical proximity to the rest of the business, and everyday interaction is so important for creating an atmosphere where you are not only approachable, but also creates a friendly environment built on mutual respect. Break down the silos and integrate with the rest of the business .

To sum up…

The CAO for me is not only a leader for analytics, but a value driver for the whole organization. In months and years to come, CAOs are set to be one of the most central, important functions a company has. Not only a driver of value, but an evangeliser, an enabler, an innovator and the future of many companies are dependant upon their success. So, once you get your legs firmly under the table of the C-Suite, make sure that talent, teams and some of the tactics I mentioned above are part of your thoughts and approaches to ensure success.

Keep ahead of the curve by attending the CAO Forum Global Event Series, engage with the wider analytics community through our group on LinkedIn and Twitter, and be a part of the conversation around this unique and evolving role.

By Vicky Anderson:

Vicky Anderson is the Content Director US/Europe for the CAO Forum. Vicky is the organiser of the inaugural CAO forum, consulting with the industry about their key challenges and trying to find exciting and innovative ways to bring people together to address those issues – the CAO Forum is launching in New York, London and San Francisco. For enquiries email: vicky.anderson@coriniumintelligence.com