Ebook Data Driven
Ebook Data Driven
DATA-DRIVEN PROFESSIONAL:
6 NON-DATA ROLES THAT
NEED DATA ANALYTICS SKILLS
INTRODUCTION
What is the company’s current position and market worth? What if tomorrow
the scenario changes? What strategic decisions can add value to clients and
stakeholders?
Historically, answers have been sought for these critical questions through a
simple balance sheet analysis and rampant speculation about the company’s
growth potential, expected future revenues, and profits.
Today, all sectors are experiencing dramatic disruption, with Industry 4.0
enveloping businesses at a dizzying speed — an epochal transformation
driven by emerging technologies, such as Artificial Intelligence, Machine
Learning, the Internet of Things, and robotics.
Stakes are higher than ever, and businesses that succeed in adopting
innovative technologies will enjoy a decisive advantage over their
competitors. Those lagging behind will have a greater risk of becoming
irrelevant — a staggering “40 percent of all businesses are likely to die if they
fail to accommodate new technologies,” according to Cisco Chairman, John
Chambers.
As the world continues to generate huge amounts of data from millions of
sensors, smartphones, and payment systems, many
far-sighted organizations are turning to data analytics to boost data-
driven business intelligence for tackling disruptive challenges, unlocking
new resources, and identifying future opportunities.
This eBook explores how the data analytics has become an in-demand
skill in many popular job roles/functions that traditionally weren’t so data
driven.
THE IMPACT OF
DATA ANALYTICS ON
NON-DATA FUNCTIONS
In the past, data was handled in silos; it was unreachable by anyone
outside of the analytics department. Today, when data fuels real-time
business decisions, there’s a growing need to be more agile when it
comes to gaining actionable insights from data. As such, more and more
professionals in non-data roles are stepping up to take responsibilities
in their own hands, which is further driven by the availability of suitable
technologies. Thus, we see the rise of a cohort of professionals that
Gartner has termed as “citizen-data scientists — they are non-data
technology experts who get to a realization that the future of their
technologies is in analytics”.
Let’s take a look at six traditional industries that are being transformed
by data analytics and how data analytics skills are becoming vital to fill
important job roles in these industries.
MARKETING
AND ADVERTISING
The field of marketing and advertising is one where it pays — and is even
critical — to have an accurate picture of how all the working components of a
particular campaign drive sales and how to tweak them for better outcomes.
Of these three, predictive analytics is the most effective tool for enabling
high-grade customer support, as it makes proactive predictions about
customer needs based on past trends, thus optimizing customer service
and user experience.
Global research and advisory firm Gartner, Inc. forecasts that by 2020,
25 percent of all support operations will use virtual assistants or chatbots,
a significant jump from 2 percent in 2017.
HR, RECRUITMENT AND L&D
Over the past few decades, Human Resources Management (HRM) witnessed
drastic changes. It evolved from being one of the operational disciplines
to a dynamic, strategy-based discipline. The growing popularity of SHRM
(Strategic Human Resources Management) serves as an example of this.
Data-driven HR analytics is at the center of SHRM.
When businesses use data analytics, they can take the guesswork out
of HR functions. Analytics-based Human Resources Management allows
organizations to convert data into valuable knowledge and knowledge into
actionable insights that enable more informed decision-making.
Critical insights, derived from data analytics, are redefining key HR roles
including Learning & Development (L&D), recruitment, and performance
management. In the same way data analytics is revolutionizing sales,
marketing, and customer support domains, it is transforming human
resources as well, enabling HR professionals to:
Using data analytics, project managers (PMs) can gain the ability to
transcend the usual limits of just capturing data. Analytics streamlines
the process of analyzing data, allowing PMs to make real-time decisions
based on actionable insights, track project performance, avoid unforeseen
events, and check whether projects are consistent with the company’s
objectives.
Since the start of the digital age, analytics came to prominence, and
today, as the world witnesses a surge in data, data analytics has become
imperative to improve product management and drive success.
Eliminating the need to go with “ gut feeling “, data analytics, via live-
data prototyping and split testing, not only provides verifiable data that
facilitates plausible justifications for the implementation of new concepts,
but it also allows product managers to make predictions about the
outcomes of such ideas, supercharging the confidence of the product
management team.
Job Responsibilities of Data Analysts and
the Must-Have Skills
Data analysts possess unique skills to analyze the accuracy and quality of
data, and then, design and model it in a manner that enables enterprises
and governments to make better-informed decisions based on data
patterns and trends.
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