MANAGING in the

NEW WORLD

In the ongoing digital-age, companies across the functional spectrum are exploring ways to ensure their employees be more data-driven. One of the crucial challenges to this is the dearth in talent available. Some concepts though have been identified which will help companies fix a better data strategy. To start off, the leaders must start thinking like data scientists. Hands-on experience must be provided to employees on working with data scientists, as that will build the empathy. Another tactic is that beyond merely data warehousing, leaders need to proactively set the data quality. All kinds of data will not generate the kind of business insights the firm may be seeking. To make better use of the data available, control charts may be produced as they help in visual representation of problems. The team members must also understand that causation and correlation are not the same. This they can better appreciate post a Root-Cause Analysis (RCA). Working in the digital age requires a minimum understanding of regression analysis. Ready refreshers are available

Source:https://hbr.org/2018/11/5-concepts-that-will-help-your-team-be-more-data-driven?utm_medium=email&utm_source=newsletter_daily&utm_campaign=dailyalert_activesubs&utm_content=signinnudge&referral=00563&deliveryName=DM17804

Uploaded Date:08 November 2018

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