Today, the increasing volume of data and the rate at which it’s captured has transformed many business professionals into de-facto data analysts. Thus, the ability to routinely execute quick, informed and data-based decisions is a top skill in demand in business today.
Michael Koploy, Managing Editor at business intelligence tool reviewer Software Advice, recently hosted a Google+ Hangout with author and professor Thomas Davenport to discuss Davenport’s thoughts on the future of business analytics in the context of his latest book.
Davenport’s new book, Keeping Up with the Quants, serves as a “quantitative literacy” guide for managers as they wade through the world of data today and tomorrow. Keeping Up with the Quants, co-authored by Davenport and Jinho Kim, covers the basics of quantitative analytics, the essential habits of effective analysts and insight on how business users and top-ranking quants can best collaborate.
From Keeping Up with the Quants: Your Guide to Understanding and Using Analytics (Harvard Business Review Press)
Among other topics, Davenport and Koploy cover:
- The importance of balancing creativity with a regular, thorough analytical process
- Why great companies hire great analysts–and why that isn’t likely to change anytime soon
- Why visualization tools are effective at analyzing “Big Data”
- How “Ph.Ds with personality” drive analytical innovation in business
- Why everyone should dabble in coding
We find a similar theme among our customers with more emphasis being placed on the quality and insightfulness of analytics. In turn, we are also seeing huge demand from business leaders for analytics that they can understand. The secret balance, in line with Davenport’s findings, is in bringing the right insights to people in a way they can understand.
Do you find a similar push towards more insightful analytics in your own organization? How are you dealing with increasing demands from your business leaders?