The Real Time Decisions Webcast with Myron Weber
Because better decisions lead to a better life.
Because better decisions lead to a better life.
Real Time Decisions Webcast
#15 Analysts, Stop Being Evil! (the audio version)
Download | Duration: 00:14:03
Since many of my podcast listeners don't go on the site to read the blog posts, I'm providing this audio version of my blog post of the same title.
Analysts: Stop Being Evil!
Ever notice how some business functions get more respect inside their own companies than others? It’s a natural part of business life: all roles are not perceived equally.
Sales is always a good candidate for front-of-the-line, top-shelf, Grade-A respect - partly because sales is truly an important function, and also in many cases because the sales team is so prone to stepping up and claiming that spot. Other perennial front runners in the respect category, depending on the industry, can include manufacturing (because, after all, they make the stuff), operations (they keep things running), and professional services (where would the organization be without the fees of its doctors, lawyers, engineers, or consultants).
Other functions’ respect can be more hit-and-miss. In some companies, marketing rules the roost - owning the brand and strategic direction - while in others, the marketing folks are relegated to maintaining the official PowerPoint template. The customer service call center can empowered to be great (Zappos anyone?) or... well, don’t get me started on Bank of America. HR can perceived as the key to attracting and retaining the talent that gives you an edge, or they can be viewed as the annoying pencil-pushers that you have to keep around. And there are companies that are built on the back of their technology capabilities and give the nerds a great deal of respect, while others would fire the whole IT team and go back to pencils and postage stamps if they could.
Some business functions and roles are viewed as contributing to success.
And some are considered a necessary evil.
It is in this context that I urge Analysts: Stop Being Evil! Okay, what I really mean is, stop allowing your role to be perceived as a necessary evil.
Over the past several years the role of the Analyst in business has risen in prominence, with an increasing flow of books, articles, software, conferences, and buzzwords directed at the field of Analytics. This is a positive trend in my view, and a substantive one that reflects the convergence of new competitive strategies based on management science with enterprise software that has the capability to make Analytics mainstream. But let’s not kid ourselves into thinking this is entirely new - there are industries (especially in the finance & insurance sector) that have been built on analytics for decades. In those companies, analysts get respect. And the shining stars of the case studies and books (Harrah’s, the Boston Red Sox, etc.) achieved success by elevating analytics to be a competitive differentiator.
But then there is the rest of the world. As I advise companies on strategy and execution for BI & Decision Systems, I see the sad, mainstream reality of Analysts who are treated as a necessary evil. This is reflected in the chronic late nights and lost weekends that happen not because the Analyst is on the cusp of a breakthrough insight, but because of the grueling spreadsheet march it takes to produce marginally useful “required metrics” without adequate systems and training. The Analyst is necessary because the business has grown to believe that it needs those spreadsheets to monitor its performance. But the Analyst is a necessary evil in the sense that the role is seen not as strategic, not as a competitive advantage, nor as a driver of business change, but rather as a cost of doing business - one they would eliminate if they could.
So what to do about this situation?
First, I think many Analysts need to aspire to greater things. Something beyond data crunching. Beyond delivering metrics and KPIs. Even beyond stats and operations research. A worthy goal for the Analytics function, I believe, is to own and drive better decision-making processes across the organization.
Second, I think some Analysts themselves need to consider their part in this situation. If you fancy yourself an Analyst, and yet the only analysis software you know how to use is Microsoft Excel, you are part of the problem. Train up or change your title.
Third, I encourage Analysts to be selective - when you take a job (or keep the one you’ve got), if it’s not clear that Analysts are viewed as providing true value, be wary. Get specific commitments about the Analyst role, about the investment to support Analytics, and the importance of the role within the organization.
Sales is always a good candidate for front-of-the-line, top-shelf, Grade-A respect - partly because sales is truly an important function, and also in many cases because the sales team is so prone to stepping up and claiming that spot. Other perennial front runners in the respect category, depending on the industry, can include manufacturing (because, after all, they make the stuff), operations (they keep things running), and professional services (where would the organization be without the fees of its doctors, lawyers, engineers, or consultants).
Other functions’ respect can be more hit-and-miss. In some companies, marketing rules the roost - owning the brand and strategic direction - while in others, the marketing folks are relegated to maintaining the official PowerPoint template. The customer service call center can empowered to be great (Zappos anyone?) or... well, don’t get me started on Bank of America. HR can perceived as the key to attracting and retaining the talent that gives you an edge, or they can be viewed as the annoying pencil-pushers that you have to keep around. And there are companies that are built on the back of their technology capabilities and give the nerds a great deal of respect, while others would fire the whole IT team and go back to pencils and postage stamps if they could.
Some business functions and roles are viewed as contributing to success.
And some are considered a necessary evil.
It is in this context that I urge Analysts: Stop Being Evil! Okay, what I really mean is, stop allowing your role to be perceived as a necessary evil.
Over the past several years the role of the Analyst in business has risen in prominence, with an increasing flow of books, articles, software, conferences, and buzzwords directed at the field of Analytics. This is a positive trend in my view, and a substantive one that reflects the convergence of new competitive strategies based on management science with enterprise software that has the capability to make Analytics mainstream. But let’s not kid ourselves into thinking this is entirely new - there are industries (especially in the finance & insurance sector) that have been built on analytics for decades. In those companies, analysts get respect. And the shining stars of the case studies and books (Harrah’s, the Boston Red Sox, etc.) achieved success by elevating analytics to be a competitive differentiator.
But then there is the rest of the world. As I advise companies on strategy and execution for BI & Decision Systems, I see the sad, mainstream reality of Analysts who are treated as a necessary evil. This is reflected in the chronic late nights and lost weekends that happen not because the Analyst is on the cusp of a breakthrough insight, but because of the grueling spreadsheet march it takes to produce marginally useful “required metrics” without adequate systems and training. The Analyst is necessary because the business has grown to believe that it needs those spreadsheets to monitor its performance. But the Analyst is a necessary evil in the sense that the role is seen not as strategic, not as a competitive advantage, nor as a driver of business change, but rather as a cost of doing business - one they would eliminate if they could.
So what to do about this situation?
First, I think many Analysts need to aspire to greater things. Something beyond data crunching. Beyond delivering metrics and KPIs. Even beyond stats and operations research. A worthy goal for the Analytics function, I believe, is to own and drive better decision-making processes across the organization.
Second, I think some Analysts themselves need to consider their part in this situation. If you fancy yourself an Analyst, and yet the only analysis software you know how to use is Microsoft Excel, you are part of the problem. Train up or change your title.
Third, I encourage Analysts to be selective - when you take a job (or keep the one you’ve got), if it’s not clear that Analysts are viewed as providing true value, be wary. Get specific commitments about the Analyst role, about the investment to support Analytics, and the importance of the role within the organization.
The Analyst role can be a force for good, for transformation, and for the betterment of mankind - the motto of this webcast is "Better Decisions Lead to a Better Life." Don't let Analytics be seen as a necessary evil. Please.
Myron Weber is Managing Partner at Northwood Advisors.
This article was inspired when some great folks at the Smart Data Collective invited me to participate in an Analytics Blogarama on the topic of “The Emerging Role of the Analyst.” Check out the rest of the entries at http://smartdatacollective.com/40832/analytics-blogarama-october-6-2011.
Myron Weber is Managing Partner at Northwood Advisors.
This article was inspired when some great folks at the Smart Data Collective invited me to participate in an Analytics Blogarama on the topic of “The Emerging Role of the Analyst.” Check out the rest of the entries at http://smartdatacollective.com/40832/analytics-blogarama-october-6-2011.
#14 Healthcare Data Warehousing Challenges
Download | Duration: 00:37:31
Check out our newest sponsor Northwood Advisors, premier advisory services for BI Strategy & Execution.
I have worked for quite a few healthcare companies over the past few years, and I've found some common threads of key challenges and some approaches to addressing those challenges. Check this episode out even if you don't work in that field and let me know whether you agree or disagree with my thoughts.
Key Goals In Healthcare Decision Systems
- Improving Patient Outcomes
- Optimizing Provision of Service
- Management of Cost of Service
Key Data Entities
- Patient
- Provider
- Visit or Encounter
- Symptoms
- Diagnoses
- Procedures
- Test Results, Labs, Indicators
- Prescriptions
- Revenue and Cost
- Patient Medical History
- Payer
- Payment plans, schedules
- Patient Eligibility
Challenges
- Security - data and content level security
- Data Quality - healthcare on average seems worse than other industries, partly due to source systems that do a poor job and also due to unstructured, non-quantitative data
- Retroactive changes to data
- Complex many-to-many relationships (e.g. multiple diagnoses and procedures in a single encounter)
- Complex set and subset analysis
- Lack of technology and focus on Business Systems
Mitigation Strategies
- Executive Sponsorship: fostered by clear BI Strategy and Roadmap
- Outputs Analysis to develop requirements based on the decisions and business questions
- Data Quality Strategy: resolve at the source system when possible, use appropriate tools, define process & ownership
- Using Design Patterns (see episode 13)
- Focus on the right tools capabilities, especially for complex set analysis
#13 Design Patterns in Data Warehousing
Download | Duration: 00:34:39
Show Notes
In this episode I discuss the concept of Design Patterns in Data Warehousing and present 4 examples:
- Operational
- Inheritance
- Statuses
- Financial
- Currency
- Transfer Pricing
Tweet
#12 Managing what you can't Measure in Social Media
Download | Duration: 00:11:52
A common business saying is, "You can't manage what you can't measure." Do you know who first said it? Do you know why it's wrong? I answer these questions and more in this episode.
To succeed in Social Media, you must:
1. Measure what you can
2. Manage what you measure
3. Excel at managing what you can't measure
I recommend this book that I discuss in the podcast.
Follow me on Twitter at http://www.twitter.com/myronweber
Casting Shadows in Social Media
In the Spring of 1990 I saw Eric Clapton in concert in Indianapolis - the third of the five times I have seen him live. I had a seat directly in the middle of the floor of Market Square Arena. As Clapton fans know, when performing live he tends to play long, wandering introductions to some of his songs, leaving us guessing which song he's leading up to. During one of those meanderings, well into the show, the crowd had mostly taken its seats. Suddenly I recognized the motif. Realizing what he was about to play, I jumped to my feet and threw my hands in the air while the rest of the crowd was still seated. At that precise moment, Clapton burst into the opening notes of "Layla" and a huge bank of bright lights behind me illuminated instantaneously. For that brief moment, I could see my shadow falling across the entire crowd ahead of me, over Eric and the middle part of the stage, with the V shape of my outstretched arms extending to the top of the arena behind the stage. It was a beautiful moment.
There's a certain satisfaction that some people like me derive from that sort of experience. I received neither fame nor fortune from the casting of my shadow, but I still smile when I remember it over 20 years later. Sometimes joy can be found in casting a temporary, anonymous shadow.
For corporate Social Media strategy and initiatives, there are some important lessons in my story. Effective social media - like a good concert - embraces and fosters the spontaneity that creates beautiful personal moments. And there's no way to engineer a truly authentic moment - you just create an environment where someone can jump up and throw his hands in the air. Sometimes he will create a beautiful moment, and sometimes he will just look like a fool (and in my case, both).
Authentic moments - whether at a concert or online - are created when there is enough structure to create an attraction, but enough freedom to foster individual expression. For businesses using Social Media, you need to make sure your strategy embraces the spontaneity within structure that makes great concerts and compelling Social Media.
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Myron Weber is a Partner in the consulting firm of Kurt Salmon; he advises companies on developing and implementing Social Media Strategy.
There's a certain satisfaction that some people like me derive from that sort of experience. I received neither fame nor fortune from the casting of my shadow, but I still smile when I remember it over 20 years later. Sometimes joy can be found in casting a temporary, anonymous shadow.
For corporate Social Media strategy and initiatives, there are some important lessons in my story. Effective social media - like a good concert - embraces and fosters the spontaneity that creates beautiful personal moments. And there's no way to engineer a truly authentic moment - you just create an environment where someone can jump up and throw his hands in the air. Sometimes he will create a beautiful moment, and sometimes he will just look like a fool (and in my case, both).
Authentic moments - whether at a concert or online - are created when there is enough structure to create an attraction, but enough freedom to foster individual expression. For businesses using Social Media, you need to make sure your strategy embraces the spontaneity within structure that makes great concerts and compelling Social Media.
-----------------
Myron Weber is a Partner in the consulting firm of Kurt Salmon; he advises companies on developing and implementing Social Media Strategy.
#11 A Model for Data Storage
Download | Duration: 00:22:16
In this episode of the webcast, I present a simple mental model that I use for working with storage experts to plan or evaluate storage solutions for decision systems. Also, I explode a common myth about the cost of storage.
- Storage Model
- Architecture
- Content
- Size
- Speed
- Scalability
- Fault Tolerance: Robustness/Redundancy/Recovery
#10 Analytics for Business
Download | Duration: 00:31:05
Show notes (pdf)In Episode 10 of the Real Time Decisions Webcast, Myron Weber gives a basic understanding of Analytics for Business to help you understand the concepts and avoid being blindsided on this hot topic in decision systems. You will learn some key distinctions to help you develop a strategy and execution plan for Analytics in your business, as well as some important and practical success factors.
Thanks for listening.
I recommend the following books, and if you buy them through these links it helps support the webcast in a small but meaningful way.
#9 Data Warehouse Conceptual Modeling
Download | Duration: 00:32:17
Download examples here (pdf)Data Warehouse Conceptual Modeling is a simple, structured, consistent, visual method of conceptually modeling the scope, structure, and roadmap of a data warehouse.
This episode explains what Conceptual Modeling of the Data Warehouse is, Why it is important, and How to use this powerful technique. Listen to hear practical definitions of Conceptual, Logical and Physical modeling.
#8 Data Flow Diagramming
Download | Duration: 00:36:58
Show notes (pdf)In episode #8 of the Real Time Decisions Webcast, I explore data flow diagramming. It's more practical than many people realize as a technique for understanding, optimizing, and troubleshooting decision systems. The Gane-Sarson method is used in the examples - recommended for its consistency and simplicity - but other symbol sets can be used in the same way. These principles apply to nearly any information system: OLTP, OLAP, Data Warehouse, ETL, etc.
Here's where to find the Dia open source diagramming tool I mention in the audio.
