Analytics Talent - How to Attract, Retain, and Leverage Analytic Talent
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Analytics Talent - How to Attract, Retain, and Leverage Analytic Talent

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Robert Morison, Co-author of "Analytics at Work" and IIA Lead Faculty shares insights about analytics professionals that will make it easier for organizations to find, hire and keep these important ...

Robert Morison, Co-author of "Analytics at Work" and IIA Lead Faculty shares insights about analytics professionals that will make it easier for organizations to find, hire and keep these important employees engaged in their work.

Due to the shortage of qualified professionals, the lack of clarity around what skills are truly essential, and the need to leverage talent effectively, this is a top concern for organizations striving to improve their analytical capacity.

To read more by Robert Morison go to: http://iianalytics.com/author/rfmorison/

To find out how the International Institute of Analytics can help your business go to: http://iianalytics.com

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Analytics Talent - How to Attract, Retain, and Leverage Analytic Talent Analytics Talent - How to Attract, Retain, and Leverage Analytic Talent Presentation Transcript

  • Analytics Talent February 13, 2013 Robert Morison IIA Faculty Member Noted Analytics Author & Expert
  • 3 | 2013 © IIA All Rights Reserved. “By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions.” – McKinsey Global Institute, May 2011  Business and technology services companies are hiring as many analytics professionals as they can get their hands on.  Even organizations with exciting analytical challenges and opportunities cannot attract all the talent they need. Problem #1: Shortage of Analyst Talent Therefore: Be flexible and creative in sourcing talent
  • 4 | 2013 © IIA All Rights Reserved. Professionals Statisticians, model builders, data scientists Semi-Pros Quantitatively oriented business analysts, problem- solvers, advisors Amateurs Analytically oriented and capable business people 15-20% 70-80% What Talent Do You Need In-House? 5-10%
  • 5 | 2013 © IIA All Rights Reserved. 1 Hire through referrals, universities/internships, specialist recruiters, professional organizations, selective poaching 2 Develop staff with cognitive skills and prototyping ability, and train them in the technology 3 Contract for “professionals” as needed from vendors, services firms, university programs 4 Connect with other quantitatively oriented business improvement groups (such as Six Sigma) Four-Part Sourcing Strategy Remember: Important and challenging work is your best sourcing tool
  • 6 | 2013 © IIA All Rights Reserved. Aggregate Spec for a “Data Scientist” Half analyst – with statistics, modeling, and experimentation skills Half data miner – with extracting, filtering, sampling and structuring skills Half programmer – using the latest tools and techniques Half communicator – able to frame questions and present analyses with both visuals and narratives Doesn’t add up in many mere mortals . . . . Problem #2: Variety of Deep Skills Needed Therefore: Form breadth-and-depth analytics teams
  • 7 | 2013 © IIA All Rights Reserved. Programmers Generalists Data Preparers Managers Effective Teams: Activity Clusters Define Roles Source: 2102 Analytics Professionals Study, Talent Analytics Corp. and IIA
  • 8 | 2013 © IIA All Rights Reserved. 25% Data – clean, gather, combine 10% Stakeholders – converse, gather hypotheses 15% Analysis – low because they import specialists 20% Storytelling – results on a slide, with financial implications 20% Implementation – deploying, training, managing change 10% Embedment – monitor and adjust as necessary Effective Teams: Recipe for HR Analytics Teams at Sears Remember: Also build your community of analysts across the enterprise
  • 9 | 2013 © IIA All Rights Reserved. Not a formula for success: Business opportunities abound Awareness of analytics’ potential grows Demand growth outpaces supply growth Targeting and prioritization are rudimentary and fragmented Demand is uneducated and immature Analysts spend too much time generating reports Problem #3: Variable and Growing Demand Therefore: Cultivate and manage demand as well as supply
  • 10 | 2013 © IIA All Rights Reserved. Demand Supply Quality 2 1 3 1 Increase supply  Headcount/development/outsourcing  Methods, including reuse  Technological tools, vendor solutions  Partnering with likeminded groups 2 Manage demand  Self-service  Prioritization  Negotiate demand level  Negotiate information sufficiency 3 Increase demand quality  Executive education  Portfolio management  Consult on demand quality and value  Suggest/present business opportunities Supply-Demand Management Source: Analytics at Work
  • 11 | 2013 © IIA All Rights Reserved. Technical Analytics Successful Analytics Analytical Organization Remember: Get ready for the point where demand accelerates Cultivate Consumption as well as Supply
  • 12 | 2013 © IIA All Rights Reserved. Problem Necessity Remember Talent shortage Flexible sourcing Challenging work Skills variety Smart teaming Analyst community Immature demand Cultivate and manage demand Anticipate growth Review and Resources IIA Briefs: • The Human Side of Big Data and High-Performance Analytics • Quantifying Analytical Talent • Organizing Analysts (2 parts) • Analytics in the HR Function at Sears Holdings Corporation
  • Research Client Access Points Written Research: Access to searchable online database of written research on enterprise topics Phone-based Discussions: Monthly phone briefings on selected topics chosen by member organizations Live Events: Annual member event (June, 2013); bi-annual industry events ; periodic local gatherings Dynamic Inquiry: ability to submit research inquires online or by phone; answered by faculty or peers Benchmarking: Assessment of member organizations against analytics maturity frameworks and peer companies 13 | 2013 © IIA All Rights Reserved.
  • Mark Your Calendar 14 | 2013 © IIA All Rights Reserved. Join IIA for our next webcast… When: March 13th… What: Is Your Organization Embracing Analytics for Better Business Outcomes? Who: Lead by: Mike Lampa, IIA Faculty How: Register at iianalytics.com or https://cc.readytalk.com/r/8k8cqznhc58b
  • Interested in joining? Toby Espinosa tespinosa@iianalytics.com