Managing Big Data: The 3 V’s

InfoGraph_2.08I came across this infographic earlier today and loved on of the visuals illustrating the challenges marketing managers have with Big Data. Big Data is all the data you have in your business… customer, product, social media, marketing spend, etc.  Its considered big if you have more of it then you know what to do with.

According to the data gathered, the challenges are:

  1. Variety = The diverse sources of data, the different places is stored and the various applications needed to access it. 49% of the respondents cited this as the biggest challenge. For me variety challenges can be mitigated if you have a good data warehouse approach and have a data master to keep it all inventoried.
  2. Volume = The amount of data in your business that you have to analyze to be able to make decisions.  In the underlying survey, 29% of respondents indicated the sheer amount of data they had to work with is the biggest challenge. The best way to deal with this challenge is to have cutting edge, analytics tools that allow you to mine data quickly. Tableau is my favorite!
  3. Velocity = The speed in which you receive data. It can either be too fast to properly analyze or it can be to slow to be used in your decision-making process. 26% of the respondents indicated that the speed in which they are fed actionable data is their biggest challenge. If you have a way to control the variety and a tool to analyze volumes, then velocity shouldn’t be an issue.

Contact DMAI via this blog or you can e-mail me directly at danmeyer@dmaiph,com to set up an analytics assessment to help you figure out a strategy to control for the variety, volume and velocity in which you use your business data to drive decision-making.

The Dividends of Outsourcing to the Philippines

– The Philippines has the most vibrant IT-BPO industry in the world, led by the emerged outsourcing destinations in the country, Manila NCR, is one of the top three outsourcing destinations in the world.

– BPOs are expected to comprise 80-90 % of total office supply for 2013. The estimate is based on the BPO sector’s objectives of hitting $26 billion in revenues by 2016 and expanding its workforce from 1.2 million to 1.4 million by the same year.

 Key Outsourcing Trends
• 399 major buy-side enterprises have spoken about their 2013 outsourcing plans, and barely a twentieth of them are looking to reduce their outsourcing scope across any IT or business function in 2013.
• Moreover, half of them are looking to increase their outsourcing of application services, four out-of-ten their finance and accounting, and a third their HR. In addition, there is a notable pick up in newer sourcing areas, such as analytics and legal.
• “Enterprise BPO” engagements have barely been around for a decade, the results are quite encouraging – 90% of buyers are meeting their transactional goals, and a good proportion are already getting some value from key areas such as accessing talent and improving analytical capability.
• In fact, barely one-in-seven can claim to be actually dissatisfied with their meeting these goals to-date.

The Services Shift – The Philippines is the Eye of the Storm

The world is currently witnessing a fundamental reorganization in the way services are delivered to customers. This is what is behind the movement to outsource. It’s a lot more than just saving money by shipping jobs overseas.

Harvard Business Professor Robert E. Kennedy, calls this the “Services Shift”. The globalization of services, in which different tasks are being carried out by different individuals in different locations, is about gaining access to the best combination of talent, resources and markets. Kennedy points out five primary compelling forces behind outsourcing:

  •  Technological Innovations like easy access to the internet and stored data.
  • Emerging Market Growth in traditionally closed markets
  • Global Macroeconomic Liberalization of government polices toward trade
  • The Corporate Imperative to both reduce costs and improve quality
  • The Convergence of a Global Business Culture based on the English language and American business models.
The business environment is constantly changing, and forward looking business managers and owners are always searching for and seizing new options. Analysts will provide the data and analysis behind their strategy.

Kennedy noted the following factors that will continue to drive outsourcing in the next 10-20 years:

  •  Global Sourcing will continue to grow – Rapidly
  • The key word will be “global”
  • Global Services will keep moving up the food chain
  • Talent will become more important then cost
  • Scale will decline dramatically, small business and team will be targets
  • Global sourcing will become increasingly personal to customers

The Philippines is in a blessed situation as all these factors converge.

Simple Recruitment Analytics Exercise: Recruit your own Super Hero Team

Here is an example of simple exercise I sometimes include in my recruitment analytics trainings. It’s a good icebreaker/team builder that starts the conversation about how to measure the effectives ness of different roles in a recruitment process.

Situation: There is an asteroid about to hit the Earth. An evil super villain has  created a ray that is attracting the asteroid here.

You need to recruit a team of heroes to complete the following tasks

1.Stop the asteroid from hitting the earth.
2.Find the super villain and stop his ray.
3.Evacuate people from the impact zone in case you can’t stop it

Rules: You must pick 3 heroes and you must stay under budget on their “salaries”.

You can only spend 200 salary points total.

Superman –  150  JLA vs Avengers

the Hulk – 100

Batman – 75

Thor – 100

Wonder Woman – 75

Iron Man – 100

The Flash – 50

Captain America – 75

Green Lantern -50

Hawkeye – 25

Aquaman -25

Black Widow – 25

Hawkgirl – 25

Darna – 50

The discussion is always interesting and most teams come up with a different combination of heroes. Besides the lead in to recruiting, I also talk a lot about how when we recruit, we have to think about what appeals to our target demographic. Which in the case of most recruiting for the BPOs here in the Philippines means 18-24 year olds who like technology, games, super hero movies and anime. Trying to find creative ways to engage them and keep their attention is as big a challenge as any other one facing recruiters.
And for the record, the most common solution is just to hire Superman and save the rest of the money since he can handle all three tasks in a matter of seconds. 🙂
If your organization is struggling with recruiting and retaining talent like so many others are, then you need the equivalent of an analytics superhero to help you save the day.
HR & Recruitment Analytics – The recruitment and retention of top talent is the biggest challenge facing just about every organization. DMAIPH is a leading expert in empowering HR & Recruitment teams with analytics techniques to optimize their talent acquisition and management processes. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to learn how to get more analytics in your HR & Recruitment process so you can rise to the top in the ever quickening demand for top talent.

Upcoming Analytics Trainings in Metro Manila! Learn from an Expert!

Repost:

Per Wikipedia, the definition of analytics is simply the discovery and communication of meaningful patterns in data.

While most people have an idea of what Analytics is: data, analysis, metrics, and business intelligence are just the start… it is an abstract concept that is difficult to summarize in a sentence or two.Most business leaders know that they need more analytics based decision making in their operations, however few have figured out how to obtain it as analytics software or engaging high priced consultants doesn’t suffice.

This is where DMAI comes in. Having spent 15 years as an analyst with Wells Fargo Bank, our CEO gets analytics. We have combined that practical experience with an educational background, and developed an innovative training approach to analytics.

Upcoming Training Batches:What Analytics Can Do!

• April 13th, Social Media Analytics, Mandaluyong

• April 19th-20th, Analytics for HR Professionals, Makati

• April 26th-27th, Recruitment Analytics, Mandaluyong

• April 29th-30th, An Introduction to Analytics for Fresh Grads, Pasay

• May 10th,  Analytics for Analysts and IT, Makati

• May 18th, Recruitment Analytics, Makati

• May 20th-21st, An Introduction to Analytics for Fresh Grads, Pasay

• May 24th-25th, Analytics for Analysts and IT, Mandaluyong

This approach is more about empowering analytical thinking then it is teaching a technological skill. We have found that being able to harness the power of analytics is as much an art as it is a science. In the end, analytics is about three things; finding data, analyzing it and communicating the results.

The base cost is 3000 PHP per person a day with snacks, lunch, and resource guide included. Two-day classes may have a different fee. Discounts are available for students and early enrollment.

 You can deposit your payment via BDO

 Account name – Daniel W Meyer

 Account number – 4288014700

 After paying the fee; scan the deposit slip and send it to danmeyer@dmaiph.com

Businesses that use analytics are 33% for profitable and 10x more efficient.

To learn more about my approach to empowering data-driven decision making, feel free to contact me directly@ 09157759578 or danmeyer@dmaiph.com or you can view our YouTube video to see more >>> http://youtu.be/yEg9plU7pwA

 
What Analytics Can Do!

 

DMAI – Decision Making, Analytics & Intelligence

Analytics is the answer for the Top Recruitment Trends for 2013

Based on some of the recruiting blogs I follow, here are the most common headlines:

1.Social Media will continue to transform the recruitment process

2.Global complexity in workforce planning

3.Strong Job Growth for Health Care

4.The Right Metrics are hard to find

5.Quality of Hire is the hardest to qualify

6.Never been more pressure to demonstrate ROI of recruitment efforts.

Analytics is a solution to helping HR and Recruitment professionals to address each of the challenges of presented by these headlines. Let’s look at each one.

1. Social media continues to be looked at as the silver bullet that everyone hopes will get them ahead. However, everyone else also has the same belief and in the end, your job postings can get lost at sea. Using analytics to help you determine what kind of posts, when and where to post them and with what message. A good ATS that feeds into social media is also important. The best ATS software packages post directly to social media sites. Also you can learn to take advantage of the built-in analytics that sites like Facebook and LinkedIn have for free. Also using an analytics approach to knowing your competition is a key way to stay ahead.

2. The complexity of recruiting here in the Philippines continues to be quickened by the diverse needs of various clients across industries and geographies. The global shift in services from massive to niche and from standard practice to personalized delivery is making it more and more challenging to find the right talent for the job. Analytics can be a powerful equalizer in knowing the demographics in your talent pool and of the clients.

3. The growth in healthcare outsourcing was something I talked about in depth a few blogs ago. Its an area that will continue to see hyper competiveness for top talent.

4. Knowing which metrics to use when and how to track and repot them is a big challenge. There is so much data and most of it is unstructured. Its incredibly hard to know how to keep a pulse on a your business. But an analytics driven business dashboard is one way to go about it.

5. Quality is hire is so often an afterthought. With so many open reqs and an increasingly thin talent pool, we often just worry about putting butts in the seats and letting the clients/business sort them out. This is so short sighted and counterproductive. Analytics can be used to measure quality of hire and should be something that everyone can easily tie their own personal successes to their efforts.

6. To truly measure return on investment you need good data, good analysis and good reporting to make sure pesos are well spent. Of all the headlines, this is on that analytics is used the most, but also used in ways that don’t really help all that much.

This is where I come in. Having spent 15 years as an analyst with Wells Fargo Bank, I get analytics. I have combined that practical experience with my educational background; I have a Master’s Degree in Education, and developed an innovative training approach to analytics.

Upcoming Training Batches:

• April 13th, Social Media Analytics, Mandaluyong

• April 19th-20th, Analytics for HR Professionals, Makati

• April 26th-27th, Recruitment Analytics, Mandaluyong

• April 29th-30th, An Introduction to Analytics for Fresh Grads, Pasay

• May 10th, Analytics for Analysts and IT, Makati

• May 18th, Recruitment Analytics, Makati

• May 20th-21st, An Introduction to Analytics for Fresh Grads, Pasay

• May 24th-25th, Analytics for Analysts and IT, Mandaluyong

This approach is more about empowering analytical thinking then it is teaching a technological skill. I have found that being able to harness the power of analytics is as much an art as it is a science. In the end, analytics is about three things; finding data, analyzing it and communicating the results.

To learn more about my approach to empowering data-driven decision making, feel free to contact me directly@ 09157759578 or danmeyer@dmaiph.com or you can view our YouTube video to see more >>> http://youtu.be/yEg9plU7pwA

Ten of my favorite analytics quotes for inspiration, reflection and empowerment!

1. Most people use statistics the way a drunkard uses a lamp-post, more for support than illumination.- Mark Twain

2. Not everything that can be counted counts, and not everything that counts can be counted. – Albert Einstein

3. Tell me and I’ll forget. Show me, and I may not remember. Involve me, and I’ll understand. –  Native American Saying

4. Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected. – Steve Jobs

5. Know where to find the information and how to use it – That’s the secret of success.  – Albert Einstein

6. Great minds discuss ideas. Average minds discuss events. Small minds discuss people. – Eleanor Roosevelt

7. A million times a day, data that could change the world is not used, because everyone thinks its hard to get to, hard to use and hard to explain. –  Christian Chabot – Tableau Software CEO

8. To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills. – Alan Greenspan

9.  A good decision is based on knowledge and not on numbers. – Plato

0. Answers are all around us, we just have to recognize them when we seem them and be ready to use them to make intelligent, data-driven decisions. – Dan Meyer (that’s me) hehe

Daily Stuggles of an Entrepreneur

http://www.evergreensearch.com/9-entrepreneurs-chime-in-on-daily-struggles/

Came across an interesting article about some of the struggles well known entrepreneurs say they face everyday. It got me thinking that this would be a good exercise the next time I train a batch that is heavily made up of small business entrepreneurs and business owners. Here is my two cents on each of the struggles listed:

1. Time. For me time management remains a strength, but at not as much as it used to be. The further away from the structured, routine life of corporate America i get, the harder it is to budget my time wisely. Working virtually, without an office is a big challenge when it comes to developing good time management skills. To counter this, I try and work from client offices and use places like Starbucks when need be to keep me motivated. I also sometimes turn of my e-mail/chat so I can focus on getting important things done without interruption. If on a scale of 1 to 10, 10 being highest I would rate myself a 7 on Time, but I used to be a 9… so I need to find ways to get back to that.

2. Focus. So many opportunities, so many people I want to work with, and so many choices to make everyday. I have a good habit of refocusing myself every few weeks. I take at least one Sunday morning a month to sit somewhere in solitude with no distractions and work on strategy. Trying to get back to the important things that will have both short and long term impacts. I think I give myself a 7 on this, but I want to be a 9 here.

3. Building A Great Team. I consider myself a good evaluator of talent. I tend to surround myself with people who take initiative and can step up in clutch situations, but I still find myself wondering why I can’t inspire them to do more, to aim farther and to have more confidence in themselves. Like with many leaders , my drive can be a double edged sword where it can both inspire and intimidate, lift up and pin down, and motivate and frustrate. Communication, being open minded and doing the right thing are never an issue… it’s the empowering the team to be a amazing as I think they are that keeps me have having the great team I dream about. I’d say I am a 6 here and need to be at a 10.

4. Emotion. Some people (including my son) see me as the Hulk sometimes. I get so intense and focused, that it can come across as frustration and anger. Others sometimes see me as too cold and unemotional like Spock. While others only know me as fun, social and inspiring person. Somewhere in the middle lies the real me and my inability to keep my emotions in check sometimes get the best of me. This is the biggest challenge I’ve had an entrepreneur… being more like a Jedi and less like the Captain of the Enterprise. I give myself a 5 on this scale and hope that’ll surrounding myself with the right people who compliment me and help smooth over my weaknesses can get me to a 7 or 8.

So where do you score on these key challenges facing entrepreneurs?

 

Making Data-Driven Decisions – Introduction

Friends and Family, here is the introduction to my book I’ve been working on entitled Making Data-Driven Decisons!

Making Data-Driven Decisions is one of the mottos I live by. It simply and powerfully sums up what I believe in as an analyst. In order to make intelligent decisions in all aspects of a business, you need to have the right data at the right time. That is what analytics is all about.

Whether you dream of being an analyst, aspire to be a better analyst or hope to surround yourself with people skilled in analytics, you have to strive to be different. You have to look at data as having the answers and analytics as the key to determining which answers are the ones you need.

My love for analytics comes from many places. When I was a kid I used to collect baseball cards and memorize all the statistics on the back of the cards. When I got into college I took a lot of courses on student developmental theory and learned a lot about why people are the way there are. I combined that with classroom teaching experience and then corporate training experience. During my time with Wells Fargo I was always the data guy or the reports guy, long before I had even heard of the term analytics. All of these experiences have prepared me for what I do today, teach people about analytics and how to use analysis to make data-driven decisions.

The idea behind this book is to serve as an introduction to analytics.  However, this book is not just for first timers but also for senior leaders who can use it to assess where their organization is.

The basic flow of this book is to first define analytics and explain what analysts do. Then we will look at the need for more analytics training and more analysts, especially in the BPO Industry in the Philippines. We will briefly review the BPO Industry in the Philippines for a common understanding of the size and scope of things.

Then we will move into basic analysis, then how to use data to drive decision making. We will look closer at key components of business intelligence and demonstrate the power of business dashboards and data visualization.

Next we will focus in specifically at analytics in the BPO environment, first broadly and then look at a few examples in functions like recruitment, sales & marketing and workforce management. The book will also touch on Six Sigma and Lean. We will then look at analytics in Social Networking.

We will begin to wrap things up with learning about the concept of Enchantment. Finally we discuss how to analyze your own business and we will conclude with the solutions BPO Elite can provide to help you and/or your business make more data-driven decisions.

We will provide plenty of real world examples, exercises and resources. We will introduce new methodologies and technologies to help achieve a strong analytics culture in your workplace.

The full book will be available soon! To get an advance e-copy of the book,  be one of the first ten people to e-mail me @ danmeyer@dmaiph.com with free book in the subject line

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