Putting People in the Process – Creating Business Value from Analytics



Creating Business Value from Analytics


Once the domain of the IT department; data-driven analysis toward critical business decision making has crossed the lines into the executive office. And as machine learning and artificial intelligence become an ever increasing part of the business environment, managers and executives are realizing a gap in their business processes.

According to a survey of just over 2700 conducted by SAS, respondents reported their organizations develop analytical skills through on-the-job (58%) or formal (23%) training. Nearly half reported their organizations train managers to understand and make better use of analytics.

Though attention has been focused on the means necessary to produce analytical results – tools, systems, methods – access has yet to translate to understanding. Creating business value from analytics requires well-trained personnel who can explain and facilitate the data and statistical methods used in analysis. The greatest barrier to creating business value is translating analytics into actions.

Crossing the Gap


Data-driven information across industries opens up opportunities for businesses from marketing to credit risk. But, in order to use their insights effectively and to drive decision making for the next best product or ad campaign, there is a potential value loss gap to close within organizations. To do this, data analysts need to understand the business and managers need to understand the analytical results. In crossing the gap, it can mean the difference between an organization’s ability to produce analytical results and ultimately apply them to business issues.

In addition, improving infrastructure and processes can also help companies create competitive advantage. And as analysts learn the business side, managers can take steps to become more savvy in understanding results.

Predictive Analytics Trends


To keep their edge, new techniques to leverage the value of data is a growing trend in organizational use of big data. Exploring data quickly and in an interactive manner is driving visualization and predictive modeling. This enables analysts and managers to act much more quickly on the data their receiving. Known as text modeling, this is the next generation in software combining machine learning with expertise to enable powerful models to be drawn from unstructured data.

Drawing not only from the ease of machine learning, another trend involves the deployment of business intelligence (BI) and analytics tools to more users. Otherwise known as democratization, the idea is to let everyone in the organization, regardless of their technical skills, have access to and analyze information leading to more informed decisions.

And as the name suggests, consumability, brings the results of BI to the masses. In conjunction with the current market trends, analysts and business leaders have the data to not only inform business decisions, but to empower business analysts within predictive analytics and modeling.

Getting from Here to There


Two of the most important aspects for organizations to consider are training and collaboration. Training can help analysts clarify results and gives the needed tools to defend those results. As knowledge is attained, the pitfalls of predictive modeling can be understood and avoided. When analyzing big data it’s important to understand and know when or if you’re giving irrelevant data too much credence or misunderstanding the difference between correlation and causation.

Collaborative efforts require a control process to more easily measure and predict data within the predictive model. The collaboration is not just between data scientists and business analysts, it also involves vendors. And within those models, collaboration and training lead to understanding of risk analysis. Knowing what kinds of models are to be built will determine whether the business analyst builds it – lower risk - or the data scientist – high risk.

From marketing data scientists to risk analysts, and up the ladder to business managers and executives, companies are realizing technology isn’t always the only solution. It takes people using technology effectively to develop new products and understand customer feedback. As important as software and technology is, people and process are just as important.

Want to put people in the process and get involved with big data. We may have a role for you. We specialize in Data and Analytics recruitment and always have a wide range of vacancies at both junior and senior level. Take a look at our current vacancies or contact us to find out more.

Want to put people in the process and get involved with big data. We may have a role for you. We specialize in Data and Analytics recruitment and always have a wide range of vacancies at both junior and senior level. Take a look at our current vacancies or contact us to find out more.

For the East Coast and Mid-West teams please call 212-796-6070, or email newyorkinfo@harnham.com.

For the West Coast team call 415-614-4999 or email sanfraninfo@harnham.com.

SHARE THIS PAGE

Harnham blog & news

With over 10 years experience working solely in the Data & Analytics sector our consultants are able to offer detailed insights into the industry.

Visit our News & Blogs portal or check out our recent posts below.

The California Data Goldrush

What is it that makes California a mecca for the adventurous of spirit? Is it the land which sparkles gold from the goldrush years or the shiny newness of the latest in tech? From boom to bust and the promise in the dash of its life, it holds possibility in action.  Or is it because, as other cities, states, and countries rally and evolve their own tech hubs, California has already settled in as the standard? The Golden State is the home of Data & Analytics. Want to see how high you can go or how to pull yourself up from a failed attempt at success? Look to the place it all began and learn how to make your insights actionable and your business decisions better. How? Begin with a platform. A Data Management Platform. You’ve Laid the Foundation, Now What? Rather than nuggets, blocks, or bars, Data gathering is cumulative. In this case, its divide, segment, and step back for the big picture; a Data Management Platform (DMP) is a unifying platform. In other words, raw Data is collated and changed into usable form. This is the core of Data-driven marketing. It is what helps businesses learn about their customers and helps to set the stage for the actionable insights that lead to happy customers.  The abundance of Data can be staggering. How much of what information do you need to better manage your audience information? What do you need to know beyond the basics? How far should you drill down to shape and activate the Data you’ve been gathering and analyzing? Having the right Data reach the right customer at the right time can greatly improve a company’s bottom line. In layman’s terms, with a DMP as part of your marketing strategy, you’ll get the most bang for your buck. Making Connections Omni and multi-channel sources such as online, offline, and mobile are woven into the connections of DMPs. Unstructured Data collection is a neutral way to help marketers use their audience Data in whatever manner is best for their business. Sources come from first – and third – party sources including mobile, desktop, web analytics tools, Customer Resource Management (CRM) software, point of sale, social media, as well as the basics such as demographic and historical behavioral Data. Getting Started Organization – Determine how you want to define your Data so you can understand it when considering a DMP. How will you segment the information you’ve decided to collect?Segmenting and audience building – Once you’ve decided what information you want to gather, you can use the information to build your target audience. Imagine pinpointing a location on a map, then plotting a route to get there. Insights and audience profile reports – Here’s your chance to study the information and analyze patterns, trends, and intent. Let’s find out what exactly it is your customers want, so you can give it to them.Activation – Now, take what you’ve learned and run with it. This is the implementation phase whether it’s through advertising, messaging, even up your game and add-in the Data management platform information into your Content Management System (CMS). The possibilities are endless. Focus, Focus, Focus Here is where you’ll bring everything into focus and see just how far the possibilities can take you and your business. Below are a few ideas and things to consider: Set your audience and advertising targets – Determine the parameters for your audience’s interests and needs through the channels they most often use such as content whether audio or video.Get personal - Offer personalized experiences for web and mobile users as well as those who prefer to conduct their business offline.Game, Set, Match – When it comes to TV DMP, match your audiences on both TV devices as well as digital.Learn – Learn about your customer. Take time to get to know them online and offline through every channel available. Go deeper than point of sale information. What is it they’re looking for? What do they want? Why do they want it and how do they want to buy it? Grow – Whilst it takes a lot more time and effort to find new customers than to keep current customers happy it’s still important to use that time and effort to your advantage utilizing DMP to grow and cultivate a new audience, too. Build brand loyalty through both returning and new customers. Paid search and social – use your Data-driven audiences to target or update paid search including buys on social media. Ultimately, building a DMP will help you build a better relationship with your customers. It helps you show you have their desires at heart; and a happy customer is worth their weight in gold.  Check out our current vacancies for our latest opportunities or contact one of our recruitment consultants to learn more.  For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.   For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com. 

Agri-Tech Innovation: A New Industrial Revolution?

San Francisco is both a base and a destination for tech professionals. On the edge of Silicon Valley, its uniquely small-town-big-city vibe evokes a sense of community. For better or worse. Everyone is, essentially, in the same boat. But, here’s the thing. Everyone identifies and understands what the other is going through and what they might need assistance with. Imagine being a start-up founder, CEO, or tech genius and needing to spitball, vent, or discuss projects and frustrations. Who can you turn to? Why, the bigger and more established start-ups, CEOs, and enterprising entrepreneurs, of course. The ones who have been there and done that. If you can catch them before they jet off to their next business meeting in London or Beijing. It's also home to a number of world’s best Data & Analytics events, including the World Agri-Tech Innovation Summit in March. This San Francisco summit will host over 1500 agri-food corporates, innovators, and investors in the agri-food sector. It’s theme? ‘Turning Disruptive Technology into Business Strategy through Partnership and Collaboration’ AgriTech – The Newest Frontier of Digital Transformation? It’s not that new, really. This is its fifth year. But, what it is telling is that disruptive technology is playing a large role in agriculture. Remember when scientists were trying to figure out how to make seedless watermelon? Look how far we’ve come. This summit’s focus is on sustainable agriculture and items on the menu for discussion include: Best models for successful technology commercialization. Partnerships needed to scale new technologies. How to transform the food supply chain into a more sustainable, affordable, and nutritious systems for generations (spoiler alert: sayonara high fructose corn syrup, GMOs, and additives?). Best practices and case studies of opportunities for innovation and investment. To best address the above, speakers and attendees, will consider the above within the parameters of: Automation.AI-Backed Genomics.Biological Discovery Platforms.Predictive Agriculture. Several days in the making, it seems the above is probably just the tip of the iceberg. And, from the lab to the field, greenhouses, too are transforming as Artificial Intelligence helps decrease errors in manual Data collection. Using Predictive Analytics in Agriculture In a world driven to be sustainable, and to stem the tide of overabundance generated waste, digital and analytical products in the field have moved toward these endeavors. Imagine being able to calculate how much product is needed and only growing, and cultivating that amount.  Using Predictive Analytics in agriculture not only helps ensure against error, but also provides predictive modelling, Data, and Machine Learning for predicting trends in the field. Armed with this information, a more stable bottom line may be found as well as more efficient use of on-farm products. Beyond the Buzz How will analytics affect future farming and create sustainable best practices for future generations? There are quite a few predictions at the table, and the answers are helping to drive actionable insights for decisions based on Data, improving: Product decisions.Product amount.Profitability. The 3 Ps are the what. Here is the how: Mini computers in our phones grant us information from the world and, with the right applications, can tell us our stock prices, how much milk is in our fridge, and even manage the heating and cooling of our home from afar. So, what if you could check on your field before ever leaving the house? Want to get a handle on pests? How about testing your soil’s value? These are just a few of the questions being asked and answered at the summit. This is the power of predictive analytics in agriculture. The World Agri-Tech Innovation Summit is in San Francisco from March 19th and 20th. If you’re interested in Biostatistics, Bioinformatics, Computational Biology, Big Data & Analytics, we may have a role for you. We specialize in junior and senior roles. Check out our new Life Science Analytics specialism or our  current vacancies for additional opportunities. Contact one of our expert consultants to learn more.  For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.   For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com. 

Measure Twice, Cut Once

We are human. We are digital. We are both. The digital mindset and digital transformation, once heavily focused in marketing, advertising, finance, and retail also drives advances in Life Sciences.  Computational Biology, Bioinformatics, and statistics. If you’re going to solve biological problems with data, you need Biostatistics. Just like you need a Data Engineer to create the parameters from which to build the structure of your Data, you need a Biostatistician to lay the groundwork to study the life in Life Sciences. This information can be infused in a variety of industries, not the least of which is medicine.  We haven’t reached immortality yet, but we’re well on our way. Route to the Role of Biostatistician If numbers at the pixel level are your cup of tea, then this role was made for you. At its core, Biostatistics is the application of statistics to range of topics in biology. It is for the numbers geek with a creative streak, and encompasses the design of biological elements; the gathering and analyzing Data from experiments and offering solutions to problems in medicine, health, and many more. The educational component of this role is more often not at the PhD level and, as pharma works to beat the back the opioid crisis, Biostatisticians are on the rise. Not the least of which to reach out is the Food and Drug Administration (FDA), who have turned to scientists at UNC to fill knowledge gaps. Pharma may be in the news, but Biostatistics go well beyond this single focus in areas such as genetics, potential open source biological databases, and digital transformation throughout the medical fields. Want to know what else is in store for the Life Sciences? Trends to Watch The 2019 Global Life Sciences Outlook offers deeper insight into the following trends and offers a glimpse into the next wave of digital transformation with a focus on Biostatistics, Bioinformatics, and Computational Biology endeavors. Move over pharma legacy culture. There are new players in town. From tech giants diversifying into health care to small business startups controlling assets through its lifecycle, the next generation is shaking things up. The hunt for next gen meds has begun in answer to declining R&D returns making the case for strategic deal making a key innovation source for companies. Connection and integration of medical devices into existing care pathways across the Internet of Medical Things (IoMT) ecoysystem. Outsiders become insiders as increasing security risks spur companies to safeguard their data. Outsourcing expertise in AI, cognitive automation, and cloud computing for peace of mind.  Cross-pollination of transformative technologies – physical, digital, and biological – to help forward thinking pharma companies evolve from pilots to determining how new technologies can best add value using:Artificial Intelligence (AI)BlockchainDIY diagnostics and virtual careInternet of Medical Things (IoMT)Software-as-a-Medical-Device (SaMD) Though only about twenty percent of organizations feel good about their place in the digital world, many remain in the experimental stage. Agile companies and the early adopters of digital technologies and platforms could benefit from deeper insights from clinical trials, better patient engagement, and faster life cycle times for products. A digital-first attitude will be a key driver of major change in the digital transformation in Life Sciences. Organizations will work toward a two-fold endeavor of divining how disruptive technologies can work together to provide value and meaningful transformation as well as putting humans back in the loop through training, retraining, or upskilling; rearranging the organization; and reconstructing how work gets done. Humans meet AI meet Machine Learning meet humans.  If you’re interested in Biostatistics, Bioinformatics, Computational Biology and Big Data & Analytics, we may have a role for you. We specialize in junior and senior roles. Check out our current vacancies for additional opportunities or contact one of our recruitment consultants to learn more.  For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.   For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com. 

When Pigs Fly or How Animal Organs Can Help Save Human Lives

Boston, Massachusetts is once again on the cutting edge of medical research and technology. From Electronic Health Records (EHR) to Machine Learning and predictive modeling of healthcare best practices to Computational Biology; the final frontier of genetic editing. We have come a long way in our quest to understand and improve our quality of life. In the face of cancer research, diabetes, and liver or heart failure, the world of Computational Biology opens the scientific doors to discovery and solution. This is a place for scientists to not only get to the heart of the matter, but to the core of the problem at the cellular level.  There is an old adage which states, “when pigs fly”, usually meaning some thing will never happen or is impossible. But what happens when the impossible becomes possible? The jury’s still out, but researchers are making great inroads in developing ways to save human lives using animal organs. Could Animal Organs Help Solve Donor Deficiency? There are over 100,000 patients in the U.S. waiting for a transplant operation and, for many, a this may be their only cure. Yet, our growing population and the sheer number of those waiting has created a donor deficiency of epic proportions.   Researchers have been working toward successfully transplanting organs from animals into humans. Not only has their study of stem cell technology grown over the years, but with the advent of bioinformatics, statistics, and Computational Biology, a new possibility has arisen. The chance to not only transplant organs from one species to another, but using another species to host the growing of transplantable human tissue. Getting the Framework Right Computational Biology is a broad discipline honed to a fine point. Using statistical modelling, it builds a wide variety of experimental Data and biological systems to understand algorithmics, Machine Learning, automation, and robotics. Its job is to ask and answer the question of how to efficiently gather, collate, annotate, search for information. But how can it do all this to determine appropriate biological measurements and observations? At the tipping point is the notion that to truly get a good picture of the problem, the frame must be in focus. And it is this, which is the most important task for Computational Biologists to solve before continuing their research. It’s a reminder to step back and look at the problem from another angle and to challenge assumptions turning “what if” on its head. Stretching, bending, and twisting toward a solution that might not otherwise have been thought without a framework in place in order to begin modelling the system. It is in this constant learning phase, Machine Learning applications with parameters set by the biologists, in which new information is processed, analyzed, and understood. This active learning model offers opportunities for applications to learn how to learn and will play a critical role in biomedical research now and in the future. And from this place, the second biggest problem to be solved enters the equation. Now, it’s time to refine the methods of how to solve the problem.   Next Steps As exciting as the possibilities are, like all things new, there are challenges. For example, not all animals will fit the bill for transplantation. The idea is to mimic as closely as possible the size and evolution of humans such as pig, sheep, or non-human primates.  But, at an even finer point of challenge are our own cell’s reactions and expressions and understanding why they act the way they do. Ultimately, it’s important to be sure information at the individual cell level is inferred with statistical references to verify findings. At the pixel level, not using a fine-tooth comb could mean your conclusions are wrong.  If you’re interested in Biostatistics, Bioinformatics, Computational Biology, Big Data & Analytics, we may have a role for you. We specialize in junior and senior roles. Check out our latest Computational Biology opportunities in our new Life Science Analytics specialism or our current vacancies for additional opportunities. Contact one of our recruitment consultants to learn more.  For our West Coast Team, call (415) 614 - 4999 or send an email to sanfraninfo@harnham.com.   For our Mid-West and East Coast Teams, call (212) 796 - 6070 or send an email to newyorkinfo@harnham.com. 

Recently Viewed jobs