Analytics'- A Transferable Skill?

Over the years I've made several successful transitions from one industry to another. To me this seems like a perfectly normal occurrence as you continue to learn and push the boundaries of your abilities.

I am currently going through the job search process, having recently left my role at the bank. After speaking with a number of recruiters and hiring managers, I've noticed the primary focus is on Banking and Financial Services (they've only looked at my most recent role, which is understandable). While banking was fun, I am very open to changing industries again; don't get me wrong, I thoroughly enjoyed my time at the bank; met some fantastic people, got immersed in the regulatory rules, gained a much better understanding around Banking in general and Retail Banking specifically. I was able to utilize much of my analytics experience gained over the years. I was also able to transfer some knowledge on to others, which is a big thing to me. While speaking with the recruiters I explain that i am open to change; going back to Retail or possibly trying a new industry; Entertainment, Hospitality, Travel even a Client facing role would be a new and interesting challenge.

But how do you convey to a recruiter or hopefully a hiring manager that while your most recent role was banking (or your particular industry), the technical skills you bring are transferrable to any number of industries.

So I am having these role discussions with Recruiters, HR Folks, Hiring managers from a variety of different industries and professions. One of the first questions is: What did you do in your latest role with the bank?. The management portion of my role was very straight forward to explain, with some banking nuances. Then I would go over the core of my analytics department; We used analytics to build behavioral models, we built segmentations to track adoption rates, we tracked product usage and continually reviewed attrition levels (to name a few). The same types of analytic practices that most companies use. The big difference is the types of data and heavy regulations around what you can/cant do.

The difficulty comes when I explain how we used very similar analytics and modeling techniques in financial services as I have used in Retail for years. There is a notion that each industry has a very specific analytics toolset that is unique to that industry. The testing criteria can be very different, but the mode to get there can be very similar.

For me building a fact based strategy has to be based on Data. Regardless of the industry you need data. You can buy data, you can collect data from Qualitative surveys, or collect data from internal systems. But relying too heavily on just one source can be dangerous. These are fundamental steps that should be inherent across all industries. What i've quickly realized is these steps are NOT clearly identified in most organizations. I've seen similar "Data Roles" in Marketing, Customer Experience, Technology, Digital to name a few. There is very little consistency to the role.

In my case I've been extremely fortunate to have worked in many different roles over my lengthy career. While with Kmart i became very used to the idea of changing primary roless every 3 years. Merchandise planning, Logistics, Price Management, Margin Management, Real-estate planning and Advanced Analytics'. Over the years I found a common theme to how I approached each role, my process flow of breaking down each role into its common DATA supporting attributes.

In each role i relied heavily on my analytic background (Ya, engineering), my desire to rely on Fact Based Data to make informed decisions. This method never steered me wrong. When it was time to make my first Industry Jump, it seemed perfectly logical. Retail Mass Merchandising to Financial Services: Retail Credit Card Analytics. I was very fortunate that the hiring HR manager was looking for someone with retail background. What i quickly realized was the fundamental basis of the new job was, Data and Analytics. The methods and process flows i used in Retail were almost identical to those in Financial services; just a lot less data points & a lot less products.

While this transition from one industry to another seemed very straight forward to me, it is difficult to explain to others, especially in today's job market. I've had to explain this jump to more than a few hiring managers. "How do you see the variety of roles you've had being a positive to this business?"; " How does the Retail or Banking analytics fit in the Hospitality, Entertainment... Etc Industry". While it can seem absolutely obvious to you, having the clarity to explain the similarities is a difficult thing. Being able to explain how the skills are transferable and in fact a huge benefit to the new organization is a skill to itself.

The bottom line is being able to fully understand and discover the transferable skills you've developed over the course of your career(s). These skills can be any number of different things like Public Speaking, Design, Project Management and yes Analytics. Most businesses regardless of the industry will have a need for these skills. The difficulty is explaining how these skills can be used across industries. Explaining how the broad background and applied techniques are a bonus when looked at in conjunction with the varied background.

Research the new role and industry. Fully understand how your background fits into or complements the organization you are considering. Do not make the mistake of assuming the recruiter will know how your skills transfer. Be able to explain this in very precise and easily understood concepts.

Have examples or case studies ready to demonstrate your ideas. Be able to place these case examples into the new role or industry.

Explain how you would apply this knowledge in the new role. And more importantly how you would be able to adapt to the new environment. You will need to integrate your skills and knowledge into their infrastructure.

If you can visualise this change, and easily explain it, you have a much better chance of landing the new dream career.

Best of luck in your career moves and adventures.

Emmett