Knowledge Management forAnalytic Professionals and TeamsJaime Fitzgerald, President, Fitzgerald Analytics, Inc.Alex Hasha,...
Introduction                                           Alex Hasha                                  Jaime Fitzgerald,      ...
About Bundle Corporation and Bundle.Com        A joint venture of Citi, Microsoft Money, & Morningstar, Bundle is:        ...
The restaurant recommender: predictive analytics meets dining!Knowledge Management for Analytics                          ...
Executive Summary      1. Complex analysis is high stakes, risky, and hard to         manage informally      2. Success re...
Table of Contents                     1. Challenges of Analytic Thought-Work                     2. The Role of Knowledge ...
1. Challenges       Challenges Analysts Face        In this section we will discuss…                     1. A core set of ...
1. Challenges       It’s a Different World       While analytic teams are indispensible in today’s information economy, th...
1. Challenges       Problems Analysts Face        There are several pitfalls into which analysts fall.              Analys...
1. Challenges       Analyst Pitfalls: Real Life Examples        Based on personal experience, but modified to protect the ...
1. Challenges       Data Science at Bundle: Lots of Prototyping                                                           ...
Table of Contents                     1. Challenges of Analytic Thought-Work                     2. The Role of Knowledge ...
2. The Role of Knowledge       Challenges Analysts Face                                  Management        In this section...
2. The Role of Knowledge       Knowledge Management to Avoid Analyst Pitfalls…                                  Management...
2. The Role of Knowledge       Workflow at Bundle                                                           Management    ...
2. The Role of Knowledge       KM at Bundle                                                    Management                 ...
Table of Contents                     1. Challenges of Analytic Thought-Work                     2. The Role of Knowledge ...
3. Implications       Key Implications for all Through-Workers                                Concept                     ...
3. Implications       Our Thought-Work Creates Value        Like a good chef, we need to have the ingredients in place whe...
Let’s Stay in Touch        We look forward to learning from each other…contact us anytime.                                ...
Upcoming SlideShare
Loading in...5
×

Knowledge management for analytic teams jaime fitzgerald and alex hasha - presentation @info360 aiim conference 2011

2,101
-1

Published on

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
2,101
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
20
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Knowledge management for analytic teams jaime fitzgerald and alex hasha - presentation @info360 aiim conference 2011

  1. 1. Knowledge Management forAnalytic Professionals and TeamsJaime Fitzgerald, President, Fitzgerald Analytics, Inc.Alex Hasha, Chief Data Scientist, Bundle CorporationMarch 2011 Architects of Fact-Based Decisions™
  2. 2. Introduction Alex Hasha Jaime Fitzgerald, Data Scientist @ Founder @ Bundle Corp Fitzgerald Analytics Leading development of data products Transforming data into value for clients Responsible Designing statistical methods / algorithm For… that transform data into insights for Creating meaningful careers for employees consumers Helps consumers with financial mgt by Helps clients convert Data to Dollars™ At a providing tools & spending behavior data Brings a strategic perspective to improve Company that are available nowhere else ROI on investments in technology, data, That Is growing and hiring! people, and processes Learning about Hadoop, Hive, Etc. Also Writing a book about the role of “thought- Working Buying a home and renovating a bathroom style” in the information-era OnKnowledge Management for Analytics 2
  3. 3. About Bundle Corporation and Bundle.Com A joint venture of Citi, Microsoft Money, & Morningstar, Bundle is: Bridging the gap between personal financial management and the good living that healthy finances makes possible. Helping people save well & spend well, combining free personal financial mgt tools with data tools and recommendation engines built from the anonymous spending behavior of over 20 million households. Cross-referencing this data with other public and private information, we developed tools available nowhere else: "Everybodys Money”: learn how your peers spend and save Restaurant Recommender: based on card spending data Merchant Recommender: our newest recommendation toolKnowledge Management for Analytics 3
  4. 4. The restaurant recommender: predictive analytics meets dining!Knowledge Management for Analytics 4
  5. 5. Executive Summary 1. Complex analysis is high stakes, risky, and hard to manage informally 2. Success requires knowledge management standards and tools, even within small teams 3. “No Silver Bullet”: to empower analysts, knowledge management methods must be tailored to a team’s workflowKnowledge Management for Analytics 5
  6. 6. Table of Contents 1. Challenges of Analytic Thought-Work 2. The Role of Knowledge Management 3. Implications for all Thought-WorkersKnowledge Management for Analytics 6
  7. 7. 1. Challenges Challenges Analysts Face In this section we will discuss… 1. A core set of universal challenges faced by analytic pros 2. Specific examples of these challenges at: 1. Bundle Corporation 2. Other analytic teams that are working hard as we speakKnowledge Management for Analytics 7
  8. 8. 1. Challenges It’s a Different World While analytic teams are indispensible in today’s information economy, the nature of their work makes teamwork, management, and coordination challenging. source: www.xkcd.com This creates a set of pitfalls…Knowledge Management for Analytics 8
  9. 9. 1. Challenges Problems Analysts Face There are several pitfalls into which analysts fall. Analysis is The Embarrassing Facts often: 1. Hard to A top complaint regarding analysis is that it is confusing and unclear understand 2. Impossible to verify, audit, Few executives report they fully trust analysis they receive or replicate 90%+ of spreadsheets used in the field are estimated to have material errors 3. Flawed In 201- Aetna cancelled a 19% rate increase due to flawed analysis Average analysts spend less than 10% of their time actually 4. Inefficient performing core analysis (with most time going to data gathering, troubleshooting, etc)Knowledge Management for Analytics 9
  10. 10. 1. Challenges Analyst Pitfalls: Real Life Examples Based on personal experience, but modified to protect the guilty… Analysis is often: Examples (not @ Bundle) Impact An analysis involving both simple and weighted averages of borrower credit 1. Hard to Misinterpretation scores understand Wrong inputs In various parts of the analysis, both metrics were called “credit score” Unaware of risk 2. Impossible to Documentation of key input variables was Hard to tell verify, audit, or not consolidated, hard to find, and whether correct replicate therefore not widely known input was used A chain of analysis mixed up simple vs. weighted averages. Consequences can 3. Flawed Error persisted 5 years before it was be significant discovered. 2 PhDs took a week to solve a problem Expensive waste of 4. Inefficient that should never have happened. skilled time.Knowledge Management for Analytics 10
  11. 11. 1. Challenges Data Science at Bundle: Lots of Prototyping It is crucial for us to 1. Goal: Solve a document, share, and re-use New Problem lessons learned from each cycle of effort 4. User Feedback 2. Design Solution 3. Testing + Validation Data Product on WebsiteKnowledge Management for Analytics 11
  12. 12. Table of Contents 1. Challenges of Analytic Thought-Work 2. The Role of Knowledge Management 3. Implications for all Thought-WorkersKnowledge Management for Analytics 12
  13. 13. 2. The Role of Knowledge Challenges Analysts Face Management In this section we will discuss… 1. How KM helps analysts in general 2. Case Examples from BundleKnowledge Management for Analytics 13
  14. 14. 2. The Role of Knowledge Knowledge Management to Avoid Analyst Pitfalls… Management Knowledge Management makes a big difference in outcomes for analysts Pitfall How KM Helps Lack of detailed specifications often leads to Consistent coding and analysis standards useless results, yet writing detailed prevent make specifications easier to create specifications for another teammate can take and execute longer than doing it yourself. Learning curve remains, but progress is faster. Slow on boarding due to “knowledge Senior teammates spend less time training new diffusion” and lack of access teammates. Reinventing the wheel due to lack of Teammates post documentation of solutions to awareness of previous work-products common problems, and are encouraged to search this documentation as a first step. Misinterpreting data definitions, or misunderstanding provenance of data leads to Enforcement of standardized, descriptive, field incorrect analyses. names and centrally available data dictionaries make these mistakes harder to miss.Knowledge Management for Analytics 14
  15. 15. 2. The Role of Knowledge Workflow at Bundle Management Inputs Process Outputs Credit Card Transaction Data Insights & Natural Language Customer/ Processing/ Merchant Recommendations for Categorization Spending Survey Consumers Merchant Listing Data Everybody’s Money™ Restaurant / Merchant Anonymous Customer Recommender Demographic Data • Loyalty/Popularity Scores Census Data & Statistical Consumer • “Web of Offline Government Consumer Sample Demographic Merchants” Spending Data Rescaling Profiles Consumer Segment Analysis Geographic DataKnowledge Management for Analytics 15
  16. 16. 2. The Role of Knowledge KM at Bundle Management Wiki-Based Metric Definition Algorithms Dialog Knowledge Meta-data Work Flow In-System “Persistent” Code & Scripts Knowledge (vs. ad hoc data processes)Knowledge Management for Analytics 16
  17. 17. Table of Contents 1. Challenges of Analytic Thought-Work 2. The Role of Knowledge Management 3. Implications for all Thought-WorkersKnowledge Management for Analytics 17
  18. 18. 3. Implications Key Implications for all Through-Workers Concept Basis Technical work draws upon more 1. The more technical the work, the dimensions of knowledge than teams can more you need KM! manage informally Since the goal of KM is to improve Quality 2. Good KM supports YOUR and Efficiency of outcomes, it is essential workflow and thought-work to customize KM to worker processes Because workflow for technical workers is 3. One size does not fit all so variable, they require flexible KM solutions In contrast to less technical knowledge, 4. At times technical KM must span there are times when technical knowledge multiple platforms is better managed in multiple placesKnowledge Management for Analytics 18
  19. 19. 3. Implications Our Thought-Work Creates Value Like a good chef, we need to have the ingredients in place when we need them… “The Chef’s Shelf” Individual Work Collaboration CommunicationKnowledge Management for Analytics 19
  20. 20. Let’s Stay in Touch We look forward to learning from each other…contact us anytime. Alex Hasha Jaime Fitzgerald Twitter: www.twitter.com/alexhasha Twitter: www.twitter.com/jaimefitzgerald LinkedIn: www.linkedin.com/pub/alexander- LinkedIn: www.linkedin.com/in/jaimefitzgerald hasha/8/26a/30a Email: alex@bundle.com Email: jfitzgerald@fitzgerald-analytics.comKnowledge Management for Analytics 20
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×