From Data to Data Science in days
Investments towards clean and quality data to do analytics is often very expensive (easily over $1M+). And by the time clean, quality data arrives, the pain point focus has shifted to something else.
Is there a better way to accelerate the Speed to Insights?
If you are looking for a prescriptive methodology on how to accelerate Business Intelligence in your organization read on….
70% of the time the ultimate decision maker is too far from the data engineers. Fixing this is easy by setting an Insights driven Kaizen data event. Read more about Kaizen Event here
Here are the key players you need in this 5-10 day closed door event.
· Decision Maker(s): someone who will ultimately change their work processes/habits with these recommendations
· Stakeholders: Process SME(s)
· Value Stream Mapping Consultant
· Business Data SME(s)
· Data Engineer(s)
· Six Sigma Expert and Facilitator: this person is also the scribe and project manager for this event
The Methodology:
1. Start with Decision Maker. Ask them to articulate what "Utopia" looks like to them
2. Start with an existing process template to speed up process mapping. Tip: try not to Re-invent the wheel!
3. If no template, utilize a digital whiteboard and map out the process. Have a Process Engineer in the room to map out the process map while discussion is ongoing.
4. Convert Value Stream map into a data flow diagram using tools like KNIME or Alteryx
5. Don’t delay the Kaizen event due to database access, data quality, data dictionary and column field interpretation. Remember you have the Data Engineer, CRM and ERP Process SMEs in the event :).
6. Interactive and Iterative Analytics is key here. Ask questions to your data. Data visualization of the past and present is not the end goal here. Hence allocate time to this appropriately
7. Implementing a positive change in the process routine of the end user is the goal. Some examples are: recommendation for the right sales opportunity, Inviting "prospect" to the right event, etc.
8. Review and Ask - Would the team do this again?
9. Communicate, train and educate broadly about the success - create the buzz for Data Kaizen's in your organization
Results : Beating the competition is critical, making it happen - One decision maker at a time is the key to success.
The Kaizen approach is definitely of value here, inclusive of the initial stage where you challenge yourself if you actually need all the data you have. Maybe not. Hence the important of extracting high quality of the question on 'what utopia looks like.' in fact. These days, cleaning up our desk of data that is not really relevant for decision making is potentially the key point.
... and then informed action. I like the short and uncomplicated approach proposed here and add the next step: how do we get from insights to action fast? Most pharmas/biotechs are still in 3 month cycles with their digital and 6 month cycles with their sales force tactics. That is not good enough - especially in a dynamic world where 2/3 of launches fail