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 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
Transcript of Analytics Talent - How to Attract, Retain, and Leverage Analytic Talent
Analytics TalentFebruary 13, 2013
Robert MorisonIIA Faculty Member
Noted Analytics Author & Expert
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“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
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ProfessionalsStatisticians, model builders, data scientists
Semi-ProsQuantitatively oriented business analysts, problem-solvers, advisors
AmateursAnalytically oriented and capable business people
15-20%
70-80%
What Talent Do You Need In-House?
5-10%
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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
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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
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Programmers
Generalists
Data Preparers
Managers
Effective Teams: Activity Clusters Define Roles
Source: 2102 Analytics Professionals Study, Talent Analytics Corp. and IIA
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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
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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
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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
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TechnicalAnalytics
SuccessfulAnalytics
AnalyticalOrganization
Remember: Get ready for the point where demand accelerates
Cultivate Consumption as well as Supply
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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
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Mark Your Calendar
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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
