How to Outsource Analytics
But that's OK. This is a big world, and there are plenty of people who are really good at mathematics and statistics. That is why I purposefully never got into the mechanics of modeling techniques and related programming issues in this series. Instead, I have been emphasizing how to formulate questions, how to express business goals in a more logical fashion and where to invest to create analytics-ready environments. Then the next question is, "How will you find the right math geeks who can make all your dreams come true?"
If you have a plan to create an internal analytics team, there are a few things to consider before committing to that idea. Too many organizations just hire one or two statisticians, dump all the raw data onto them, and hope to God that they will figure some ways to make money with data, somehow. Good luck with that idea, as:
1. I've seen so many failed attempts like that (actually, I'd be shocked if it actually worked), and
2. I am sure God doesn't micromanage statistical units.
(Similarly, I am almost certain that she doesn't care much for football or baseball scores of certain teams, either. You don't think God cares more for the Red Sox than the Yankees, do ya?)
The first challenge is locating good candidates. If you post any online ad for "Statistical Analysts," you will receive a few hundred resumes per day. But the hiring process is not that simple, as you should ask the right questions to figure out who is a real deal, and who is a poser (and there are many posers out there). Even among qualified candidates with ample statistical knowledge, there are differences between the "Doers" and "Vendor Managers." Depending on your organizational goal, you must differentiate the two.
Stephen H. Yu is a world-class database marketer. He has a proven track record in comprehensive strategic planning and tactical execution, effectively bridging the gap between the marketing and technology world with a balanced view obtained from more than 30 years of experience in best practices of database marketing. Currently, Yu is president and chief consultant at Willow Data Strategy. Previously, he was the head of analytics and insights at eClerx, and VP, Data Strategy & Analytics at Infogroup. Prior to that, Yu was the founding CTO of I-Behavior Inc., which pioneered the use of SKU-level behavioral data. “As a long-time data player with plenty of battle experiences, I would like to share my thoughts and knowledge that I obtained from being a bridge person between the marketing world and the technology world. In the end, data and analytics are just tools for decision-makers; let’s think about what we should be (or shouldn’t be) doing with them first. And the tools must be wielded properly to meet the goals, so let me share some useful tricks in database design, data refinement process and analytics.” Reach him at firstname.lastname@example.org.