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Hi Fellow Analysts
Today we’re diving into a fundamental problem-solving technique that can transform your analysis – the Five Whys technique. Are you battling with root causes in your analysis? Whether you're a seasoned analyst or just starting out, this episode is for you.
The Five Whys technique is a method used to identify the root cause of a problem by repeatedly asking "Why?" until the underlying cause is discovered. Originally developed by Sakichi Toyoda and used within the Toyota Motor Corporation, this technique is now widely adopted across various industries for its effectiveness in root cause analysis. In this episode, we'll walk you through the steps of the Five Whys technique, provide a practical example, and discuss its importance in uncovering underlying causes, promoting thoroughness, prioritizing actions, and fostering continuous improvement.
So, next time you encounter a problem in your analysis, remember to use the Five Whys technique. It’s a simple yet powerful tool that can help you uncover the root cause of issues and improve your processes over time. Thanks for tuning in to "How to Start Being an Analyst." If you found this episode helpful, please subscribe and share it with your colleagues. Let’s continue to grow and improve together.
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Hi Fellow Analysts
Join us on a journey of exploration and empowerment as we delve into the intricacies of analysis leadership. Whether you're an aspiring leader or a seasoned analyst looking to elevate your skills, this episode is packed with valuable insights to guide you along the way.
As analysts, we often find ourselves navigating the complex intersection of mindset, toolset, and skillset in data preparation and analysis. But what does it truly take to excel in this dynamic field?
First, we'll dive into the fundamental mindset required for effective analysis. From analytical skills like problem-solving and pattern recognition to the importance of continuous learning and domain knowledge, we'll uncover the key components that lay the foundation for success.
Next, we'll explore the essential toolset needed to tackle data preparation with confidence. From programming languages like Python and R to data manipulation techniques and database management, we'll equip you with the technical skills necessary to thrive in today's data-driven world.
But technical prowess alone isn't enough. That's why we'll also shine a spotlight on the crucial skillset needed to bridge the gap between data and insights. From hands-on experience gained through practical application to the power of communication and collaboration, we'll show you how to leverage these skills to drive meaningful impact within your organization.
And finally, we'll tie it all together by examining how these elements converge to form a holistic approach to data preparation and analysis. From performance management and strategic planning to stakeholder relations and leadership support, we'll demonstrate how each piece of the puzzle plays a vital role in achieving analytical excellence.
So whether you're preparing for your next job interview or seeking guidance in a performance conversation, this episode is your roadmap to success in analysis leadership. Tune in, take notes, and embark on your journey to becoming a true leader in the world of data analysis."
Feel free to adjust any part of the description to better align with your podcast's tone and style!
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Saknas det avsnitt?
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Hi Fellow Analysts
In this episode, we discuss the foundational frameworks and methodologies that power the development of precise solutions in business informatics. From navigating complex data landscapes to sculpting innovative strategies, our discussion unveils the guiding lights that illuminate the path to analytical excellence.
Join us as we explore the following frameworks:
CRISP-DM (Cross-Industry Standard Process for Data Mining): Unravel the layers of CRISP-DM, a beacon in the realm of data mining and analytics. Discover how its structured approach empowers analysts to navigate the intricate terrain of business objectives, data insights, and solution deployment.
Agile: Journey through the agility of Agile methodologies, where collaboration and flexibility reign supreme. Explore how iterative development and prioritization unlock incremental victories, propelling analytics projects towards triumphant success.
Lean Six Sigma: Enter the realm of Lean Six Sigma, where efficiency and quality converge in a symphony of data-driven decision-making. Learn how the DMAIC framework illuminates the path to identifying and eliminating inefficiencies, and optimizing business processes with surgical precision.
TOGAF (The Open Group Architecture Framework): Embark on a voyage through the architecture of innovation with TOGAF. Witness how this comprehensive framework orchestrates the harmonious alignment of analytics initiatives with overarching enterprise architecture, igniting the flames of strategic synergy.
ITIL (Information Technology Infrastructure Library): Navigate the corridors of IT service management with ITIL, where analytics solutions find their sanctuary amidst the needs of the business. Explore how ITIL principles and processes orchestrate the seamless delivery and support of analytics endeavours, ensuring sustained success.
Design Thinking: Embark on a human-centered odyssey through the realms of Design Thinking. Delve into the depths of user empathy, creativity, and iterative refinement as analysts harness the power of empathy to sculpt solutions that resonate with the soul of the end-user.
Discover why these frameworks are indispensable allies in the quest to forge relevant solutions in the ever-evolving landscape of business informatics. Join us as we unravel the threads of innovation, weaving a tapestry of analytical excellence that transcends boundaries and transforms possibilities into realities.
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Hi Fellow Analysts
In this episode, we explore the transformative impact of AI on data and analytics roles. With significant investments like $42.5 billion in AI startups and the global data analytics market projected to grow from $61.44 billion in 2023 to $581.34 billion by 2033, the landscape is rapidly evolving. We'll discuss the rise in job opportunities, with a 35% increase in data scientist positions projected by 2032, and the critical role analysts will play in interpretation, strategic thinking, and analysis despite AI advancements.
We'll also delve into key trends such as the transition from data processors to data storytellers, the emergence of new roles like AI trainers, and the importance of specialisation in industry-specific data expertise. The episode highlights the necessity of continuous learning, effective communication, and ethical data handling in navigating the future of data analytics. By understanding these insights, professionals can better leverage AI advancements and thrive in the evolving data-driven economy.
Read the full article here
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Hi Fellow Analysts
Do you want to embark on a journey to enhance your analytical skills? Dive into the world of data analysis with our curated list of top online courses and tutorials designed especially for beginners. In this episode, we explore the essential tools and techniques that will equip you with the expertise to thrive in the field of data analytics.
IBM Introduction to Data Analytics on Coursera:Gain a solid understanding of data analytics and its applications. Learn to differentiate between various data roles and describe the data analysis process.
Google Data Analytics on Coursera:Immerse yourself in the practices and processes used by junior data analysts. Master key analytical skills and tools, and visualize data for effective decision-making.
IBM Data Analysis with Python on Coursera:Dive into Python-based data analysis techniques. Develop skills in data cleaning, exploratory data analysis, and building regression models for prediction.
Introduction to Data Analysis using Microsoft Excel (Guided Project) on Coursera:Enhance your data analysis abilities using Excel with concise modules covering spreadsheet functions, filtering, pivot tables, and advanced graphing.
Business Analytics with Excel: Elementary to Advanced by Johns Hopkins University:Covering Excel-based business analytics from basic to advanced levels, this course includes modules on what-if analysis, decision analysis, and linear programming.
Data Analysis with R Programming (Google) on Coursera:Explore the R programming language for data analysis tasks, including generating visualizations and formatting content using R Markdown.
While these courses provide a solid foundation, remember that practice and real-world application are key. Consider working on projects, participating in hackathons, and collaborating with other analysts to hone your skills further. Join us as we embark on this journey of continuous learning and discovery. Happy learning!
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In this episode, we delve into the world of advanced analytics tools, exploring the diverse array of technologies that empower analysts to extract valuable insights from data. From statistical analysis software to machine learning platforms, we uncover the key tools driving data-driven decision-making in today's digital age.
We begin by examining statistical analysis software, such as R and Python with libraries like Pandas and NumPy, renowned for their versatility in statistical analysis, data manipulation, and predictive modelling. These tools offer a rich environment for conducting advanced analytics tasks, including regression analysis, time series forecasting, and machine learning.
Next, we explore data mining tools like RapidMiner and IBM SPSS Modeler, designed to uncover patterns and relationships within large data sets using algorithms such as clustering, classification, and association rule mining. These tools enable analysts to identify insights that may not be apparent through traditional analysis methods.
Moving on, we investigate machine learning platforms like TensorFlow, scikit-learn, and Microsoft Azure Machine Learning, which empower analysts to build and deploy predictive models at scale. With a wide range of algorithms and tools for tasks such as classification, regression, clustering, and anomaly detection, these platforms revolutionise predictive analytics.
We also delve into natural language processing (NLP) tools like NLTK (Natural Language Toolkit) and spaCy, used to analyse and extract insights from unstructured text data. From sentiment analysis to named entity recognition and topic modelling, these tools unlock valuable insights from textual data sources.
Lastly, we explore visualisation tools like Tableau, Power BI, and QlikView, which enable analysts to create interactive dashboards, charts, and graphs to visualise and explore data. These tools facilitate the communication of analytical insights to stakeholders clearly and compellingly, driving informed decision-making.
In addition to exploring the advanced analytics tools landscape, we provide practical guidance on how novice analysts can get started with these technologies. From online courses and tutorials to local workshops and seminars, we uncover the diverse learning opportunities available. Whether through professional networking, online documentation and forums, or formal education programs, we empower aspiring analysts to embark on their journey towards mastering advanced analytics tools.
Tune in to "Unlocking Insights: A Deep Dive into Advanced Analytics Tools" to discover the tools and techniques shaping the future of data analytics and learn how you can leverage them to unlock the full potential of your data.
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Hi Fellow Analyst
Join us for an in-depth exploration of the three essential skills every data analyst needs to excel in their role. In this episode of our Being An Analyst podcast, we dissect the foundational pillars of data analysis: data manipulation and analysis, statistical and analytical skills, and data visualisation and communication. Get ready to embark on a journey of discovery as we unravel the intricacies of each skill and provide actionable insights for mastering them.
First up, we dive into the world of data manipulation and analysis, where proficiency in tools like SQL, Python, and R is paramount. Learn how to extract, clean, and transform data to uncover hidden insights and drive informed decision-making. We'll share practical tips for navigating databases, writing efficient queries, and wrangling messy datasets, equipping you with the skills needed to tackle real-world analytical challenges head-on.
Next, we turn our attention to statistical and analytical skills, the backbone of data analysis. From understanding fundamental statistical concepts to applying advanced analytical techniques, we cover it all. Discover the secrets to hypothesis testing, regression analysis, and machine learning, and learn how to extract actionable insights from complex datasets with confidence and precision.
But analysis is only half the battle. Effective communication is essential for translating insights into meaningful actions. Join us as we explore the art of data visualisation and communication, uncovering the principles of visual storytelling and best practices for creating compelling visualisations. From designing clear and intuitive charts to crafting persuasive narratives, we'll show you how to captivate your audience and drive impact with your data-driven insights.
Whether you're a seasoned data analyst or just starting your journey in the world of analytics, this episode is packed with valuable insights and practical advice for mastering the essential skills of the trade. Tune in to Being An Analyst podcast and take your data analysis skills to the next level. Don't miss out on this opportunity to unlock your full potential as a data analyst and make a lasting impact with your work.
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Hi Fellow Analysts
Unveiling the Power of Business Analysis: Navigating Modern Challenges
In a world where businesses navigate the complexities of technological advancements, the role of a business analyst shines brighter than ever before. Join us in this episode as we delve into the dynamic landscape of modern business and uncover the invaluable contributions of business analysts across industries.
Discover the multifaceted nature of business analysis as we explore the different types of analysts—be it in IT, operations, or finance—and unravel the strategic influence they wield in organisations, both big and small. From optimizing operational processes to driving innovation, business analysts are the architects of change, guiding companies towards operational excellence and strategic success.
But why embark on the journey to become a business analyst? Tune in as we unravel the advantages and potential challenges of pursuing this career path, from gaining insight into operational intricacies to influencing strategic decisions with data-driven insights. Whether you're a seasoned analyst or aspiring to step into this dynamic role, this episode offers valuable insights into the ever-evolving landscape of business analysis.
Join us as we address concerns amidst the AI and big data revolution, highlighting the pivotal role of business analysts in navigating technological advancements with adaptability, ethical considerations, and human-centric skills at the forefront.
Don't miss out on this opportunity to gain a deeper understanding of the power of business analysis and why it remains a cornerstone of success in the modern business world. Tune in now to unlock the secrets to thriving as a business analyst amidst the challenges and opportunities of today's dynamic landscape.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analysts
Are you ready to uncover the hidden secrets behind the dynamic duo of cybersecurity and data analysis? Join us in this eye-opening episode as we delve deep into the pivotal role that cybersecurity plays in unlocking the full potential of data analysis.
In today's interconnected world, where data reigns supreme, analysts like you are the modern-day detectives, uncovering valuable insights buried within vast oceans of information. But what happens when the treasure trove of data is under threat from malicious forces? That's where cybersecurity steps in as your trusty sidekick, safeguarding the integrity, confidentiality, and availability of your most precious asset—data.
From protecting data integrity to securing access and preventing breaches, cybersecurity forms the sturdy foundation upon which your analytical endeavors thrive. Together, we'll explore how cybersecurity measures ensure compliance with regulations like GDPR and HIPAA, empowering you to navigate the complex landscape of data privacy and security with confidence.
But that's not all. We'll uncover how cybersecurity tools act as vigilant sentinels, constantly scanning the digital realm for anomalies and potential threats, allowing you to stay one step ahead in the ever-evolving battle against cyber adversaries.
Join us as we embark on an enlightening journey to discover the symbiotic relationship between cybersecurity and data analysis. Whether you're a seasoned analyst or just dipping your toes into the world of data, this episode promises to equip you with invaluable insights to elevate your analytical prowess to new heights.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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In this week's episode of "How to Start Being an Analyst," we dive deep into the world of business informatics, exploring how the intersection of business processes and information technology can uncover hidden challenges and unlock opportunities for growth. Join me, Lisema Matsietsi, your host and guide through the intricate landscape of analysis and innovation.
🔍 What to Expect:Discover the fundamental principles of identifying business problems within the realm of business informatics. From inefficient inventory management to data security breaches, we unveil real-world examples and practical solutions that can revolutionize the way businesses operate.
🤔 Have You Ever Wondered?
What are the telltale signs of business problems lurking beneath the surface? How can information technology solutions be harnessed to address these challenges effectively? What steps can you take to identify, prioritize, and solve business problems using business informatics?🚀 Why You Should Tune In:Whether you're an aspiring analyst, a seasoned professional, or a curious mind eager to explore the nexus of business and technology, this episode is your gateway to unlocking the secrets of successful problem-solving in the digital age. Empower yourself with the knowledge and tools needed to drive innovation, streamline operations, and propel your career to new heights. Don't miss out on this enlightening conversation! Tune in to "How to Start Being an Analyst" and embark on a journey of discovery, insight, and transformation. Remember, the path to success begins with understanding the problems we face—and with the right tools and mindset, there's no challenge too great to overcome.
🎧 Listen now on your favorite podcast platform and join the conversation. Let's decode the mysteries of business informatics together!
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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In this episode of Being An Analyst, I delve into the fascinating world of data analytics and its transformative power in the banking industry. Join us as we uncover the "golden nuggets" of insights that drive strategic decision-making at Nedbank and explore how these insights are reshaping the landscape of business intelligence.
As analysts, we're constantly on the lookout for valuable insights hidden within vast datasets. We learn how Nedbank's approach focuses on identifying abnormal patterns or outliers in data, leading to tailored products and services that enhance customer engagement and satisfaction.
Moreover, we explore the art of data storytelling and how it informs decision-making processes. By analyzing point-of-sale data and customer behaviour, Nedbank crafts narratives that guide strategic decisions, opening new revenue streams and optimizing store locations.
The episode also delves into predictive modelling, where tools like SAS Enterprise Miner help forecast customer actions and preferences. These models not only improve marketing strategies but also enhance customer retention rates.
Furthermore, we discuss the concept of monetizing data insights. Nedbank doesn't just use data internally but also sells it back to clients, providing value-added services to those lacking sophisticated BI capabilities.
Additionally, centralizing leads management emerges as a key strategy for efficient campaign planning and execution. This approach leads to deeper client relationships and improved acquisition rates with fewer leads.
Lastly, we emphasize the importance of data-driven decision-making across all business functions. By integrating statistical modelling and analytics into operations, organizations can optimize processes, enhance efficiency, and ultimately drive profitability.
Join us as we explore these insights and more in our quest to understand how data analytics is transforming banking insights.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow AnalystsIn this episode, we explore the world of data marketplaces, where valuable data assets are exchanged to fuel innovation and drive decision-making across industries. We will delve into the intricacies of data marketplaces, examining how they enable the buying, selling, and exchange of diverse data types, from structured databases to real-time streaming data.We will uncover the many benefits data marketplaces offer for both providers and consumers, including unlocking new revenue streams for data owners and providing access to a wealth of information sources for data consumers. We will also examine the role of data marketplaces in streamlining data transactions, ensuring compliance with regulations, and enhancing efficiency in data-driven processes.We also highlight key players shaping the data marketplace landscape, from well-known platforms like AWS Data Exchange, Google Cloud Marketplace, and Microsoft Azure Marketplace to specialized marketplaces like Quandl and Kaggle Datasets. We will also spotlight niche platforms catering to specific industries and regions, showcasing the diversity and evolution of data marketplaces worldwide.Join us as we navigate the dynamic world of data marketplaces, uncovering opportunities, challenges, and emerging trends shaping the data economy today. Whether you're a data enthusiast, industry professional, or curious learner, this episode offers valuable insights into harnessing the power of data in the digital age.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analysts
In this episode, we delve into the intricate world of data analysis and explore the fundamental question: Is all organisational data useful?
Join us as we navigate through the concept of critical data, uncovering the essential information that drives organisational objectives. From understanding the characteristics of critical data to practical tips for effective analysis, we unravel the importance of comprehending data before asking questions. Discover how prioritising critical data, validating assumptions, collaborating with colleagues, and continuously learning can elevate your analytical prowess.
Whether you're a seasoned analyst or just starting your journey in data analysis, this episode promises valuable insights to enhance your skills and maximise the impact of your data-driven decisions. Tune in to unlock the power of critical data and master the art of data analysis.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analysts
Are you safeguarding strategic advantage? Do you know the role of Cybersecurity in Business Informatics? In this insightful episode, I delve into the dynamic intersection of business informatics and cybersecurity, exploring how strategic analysis and decision-making are reshaped by the prioritization of cybersecurity measures. Join me as I unravel the symbiotic relationship between these disciplines and uncover how organizations can leverage cybersecurity to gain a competitive edge in today's digital landscape.
Business informatics, the amalgamation of business, management, and information technology, serves as the cornerstone for organizations aiming to harness the power of technology for strategic advantage. However, amidst the quest for insights, cybersecurity often takes a backseat. We dissect this critical oversight and highlight how organizations that prioritize cybersecurity can pave the way for strategic innovation and resilience.
From data management to enterprise resource planning and strategic IT planning, business informatics encompasses a diverse array of activities aimed at optimizing organizational performance. Yet, without robust cybersecurity measures, the integrity and confidentiality of data remain at risk, undermining the foundation of informed decision-making and strategic insights.
We uncover the strategic importance of cybersecurity as more than just a defensive measure but as a catalyst for innovation and growth. By weaving cybersecurity into the fabric of organizational strategy, businesses can mitigate risks, ensure regulatory compliance, and maintain business continuity amidst cyber threats and disruptions.
Moreover, the episode delves into the impact of cybersecurity on strategic analysis within business informatics. From informed risk management to enhanced stakeholder confidence, we explore how cybersecurity integration enables organizations to navigate the complexities of the digital landscape while fostering trust and competitive advantage.
Join us as we unravel the transformative potential of cybersecurity in driving strategic advantage and reshaping the landscape of business informatics.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analysts
Understanding ISO/IEC 27000 & 27001? Join me on this episode as I delve into the world of information security management systems (ISMS) with a focus on ISO/IEC 27000 and 27001 standards. We explore the foundational principles, frameworks, and benefits of implementing robust security measures within organizations.
In our discussions, we cover:
Introduction to ISMS: Discover the purpose and benefits of implementing an ISMS, and gain insights into key concepts and terminology essential for understanding information security management. Navigating the ISO/IEC 27000 Family: Explore the structure of the ISO/IEC 27000 series of standards, including ISO/IEC 27001, 27002, and others, and learn how these standards interrelate to establish effective ISMS. Framework for Security Management: Dive into the high-level framework presented by ISO/IEC 27000 for establishing, implementing, and improving an ISMS, covering essential elements like risk management and continual improvement. Benefits of ISO/IEC 27001 Conformity: Understand the advantages of conforming to ISO/IEC 27001, including enhanced security posture, regulatory compliance, and competitive advantage in the market. Integration with Management System Standards: Explore how ISMS integrates with other management system standards like ISO 9001 and ISO 14001, promoting an integrated approach to organizational processes. Guidance for Implementation: Gain practical insights into effectively implementing ISO/IEC 27001 and related standards, tailored to the unique needs and objectives of your organization.Whether you're a seasoned information security professional or just starting your journey in this field, this episode provides valuable knowledge and guidance for establishing robust information security practices within your organization.Tune in to stay informed and empowered in safeguarding your organization's information assets and managing security risks effectively.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analysts
We previously discussed the importance of IT Governance for Analysts, with a focus on establishing an environment that recognises the significance of Information and Technology for enterprise risk management and value creation. Enterprise Governance of Information and Technology (EGIT) is a critical component of corporate governance. It is exercised by the board, which oversees the definition and implementation of processes, structures, and relational mechanisms. EGIT enables both business and IT professionals to fulfil their responsibilities in support of business/IT alignment. It also facilitates the creation of business value from I&T-enabled business investments.
In this episode, we will delve into the COBIT 2019 version and explore what analysts should know to ensure an optimal IT environment. This is especially important when starting an analysis from scratch.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hello Fellow Analysts,Have you ever created a database in your organization without proper governance? If so, then this episode is just for you. In this discussion, we will explore the significance of data governance and its importance. I will also shed some light on the connection between the information security office led by the Chief Information Security Officer (CISO) and the data office led by the Chief Data Officer (CDO).By the end of this episode, you will have a clear understanding of how both offices work together to carry out board directives in your databases. You will also realize the need for reporting controls back to the board, and how the auditing function plays a crucial role in ensuring that board directives are implemented effectively. So, if you're looking to enhance your knowledge on the subject, this episode is a must-listen.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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• Books on Amason: [https://amzn.to/4d6bX0K]
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Hi Fellow Analysts
In this episode, we delve into the fascinating world of database types and their pivotal role in data management. Whether you're a seasoned analyst or just starting out, understanding databases is crucial in today's data-driven world.
We explore a variety of database types, each tailored to specific use cases, from Relational Databases to Document Databases, Graph Databases, Analytical Databases, Column-Family Databases, and Key-Value Databases. Along the way, we unpack the characteristics, advantages, and disadvantages of each, shedding light on the ideal scenarios for their implementation.
From the structured tables of Relational Databases to the flexible schemas of Document Databases, and the relationship-focused approach of Graph Databases, we cover it all. We also delve into the complexities of Analytical Databases, the efficiency of Column-Family Databases, and the simplicity of Key-Value Databases.
Whether you're seeking strong data integrity, scalability, or rapid data access, there's a database type tailored to your needs. Join us as we navigate the intricate landscape of database management and empower you to make informed decisions for your projects. Tune in now to level up your database knowledge and enhance your data analysis skills!
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analysts
In this episode, we explore the critical hard and soft skills necessary for success in the realm of data analysis. I break down the distinction between hard skills, including data manipulation and advanced analytics, and soft skills like communication and emotional intelligence, emphasising their symbiotic relationship in driving data-driven decision-making processes.
Drawing from my expertise, the discussion underscores the importance of honing these skills for aspiring analysts. Additionally, I introduce their comprehensive guide, "Being An Analyst," designed to equip individuals with the foundational knowledge and practical insights needed to thrive in analytical roles. With its easy-to-understand structure spanning ten chapters, covering topics from market understanding to self-awareness as an analyst, the book serves as an indispensable resource for anyone looking to excel in the dynamic field of data analysis.
Tune in to this episode for actionable advice and expert insights on mastering the art of analysis.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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Hi Fellow Analyst
You know the Return on Investment (ROI) way of selecting projects to be funded, but do you believe that there could be another model to be used to select viable projects? Often we get tangled in issues that require time and money but never consider these two when we make decisions. Amature analysts are more emotional than logical in their decision-making - they react first and think second. This means they decide emotionally and then rationalise logically. This is when a new model is needed to help us select the best projects for digitalisation. The Investment, Time, and Return model allows us to ask the following questions;
1. How much will it cost or save us? (Investment)
2. How much time will it take us and save us? (Project Time)
3. Calculate the return on the money and time involved in the decision (Return).
I hope you enjoy this episode that echos that we don't need to be math geniuses to figure out if the investment is worth it, we just need to dig a little deeper into the numbers using the above ITR model.
Remember to also make a list of the blind spots or things that could go wrong with the decision. It’s easy to think about what could go right, but it’s also important to see the downside - Bet-David, Patrick.
If you love insights like this, consider subscribing to our bi-weekly newsletter and WhatsApp group for daily insights or purchase our books on Amazon to grow the community
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- Visa fler
