Tag: Decison-Making

Finding Data For A Case Study In Outsourcing

Taking a business projects I did a few years ago and turning it in to a case study exercise for a group of students.

Project Goal – To determine the viability of outsourcing 3-5 engineering jobs (Project Engineer and Draftsman) from the home office in Rotterdam to the rep office in the Philippines.

Current Situation – There is currently a rep office in Makati that has the space to add at least 3-5 engineering jobs. This study will determine if outsourcing these positions will result in cost savings as well as add value to the overall company operations.

This study will provide answers to three questions:

Is Makati an viable outsourcing solution?

What is the average salary for talent in Makati?

Is anyone else outsourcing along similar lines?

Recommendations – We recommend the following actions to ensure the overall success of an outsourcing transition.

  1. Conduct a thorough cost-benefit analysis comparing current and future salaries and benefits of staff in Rotterdam and Manila.
  2. Post a job listing to see what kind of candidates apply and screen them as future hires.
  3. Market to OFWs as they return from aboard as they are the most likely pool of experienced candidates.
  4. Contract a local Subject Matter Expert who can be hired as the Team Lead who can take the lead in filling out the staff.

Analytics Outsourcing – DMAIPH has successful set up Filipino analytics teams for over a dozen U.S. based businesses. Offering both virtual and office based teams that specialize in problem solving using data, new technology and analytics techniques is our strength. Finding and empowering analytics talent is increasingly challenging, but we have it down to a science. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to learn more about how to set up an analytics-centric team in the Philippines.

What Is Strategy?

http://bakerstreetpublishing.com/decisioncoaching/2015/02/12/what-are-the-strategic-decisions-we-face/

I came across this perfectly timed blog post on LinkedIn. Tomorrow we will be having our first real leadership planning session in a while and we have a lot of topics on the agenda.

However, before we get into the nitty gritty, I will spend the first part of the meeting talking about strategy. And these concepts will form the core of that conversation.

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“Every business must have three things to be successful: good leadership, good strategic decision making, and the ability to execute. “

  • Good Leadership: To me this means inspiring and empowering team members to take the initiative, to be bold in problem solving and being able to balance client, customer, business and team member needs.
  • Strategic Decision-Making: Taking a logical and data-driven approach to decision-making is the best way to map out your business plan.
  • The Ability to Execute: Good leaders know how to implement decisions quickly and efficiently because they work in a sound framework of empowerment and intelligence.

Looking at closely at the data is key part of this. Good leaders do much more than just manage, and it’s important to constantly remind ourselves of this.

Analytics Leadership – DMAIPH specializes in arming the Data-Driven Leader with the tools and techniques they need to build and empower an analytics centric organization. Analytics leadership requires a mastery of not just analytics skill, but also of nurturing an analytics culture. We have guided thousands of Filipino professionals to become better analytics leaders. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly to discuss a uniquely tailored strategy to ensure you are the top of your game when it comes to Analytics Leadership.

Introduction To “Data-Driven Decision-Making”

Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure… than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat.  – Theodore Roosevelt 

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.

Sir Dan (1)

I combined that passion 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.

My book, “Data-Driven Decision-Making”, is in it final stages and will be ready for publishing within a matter of weeks.

I Was Just Talking About This, Now I Know What To Call It > Sisu

http://www.businessinsider.com/quality-that-successful-leaders-have-2014-6

I was just talking with a friend about one of the qualities I have that I think separates me and other successful businessmen from those who aren’t successful. I came across this article just a few hours later. Active coping or what’s called Sisu.

“Active coping is being ready and able to adapt creatively and effectively to challenges and change,” she says in a statement. “Active copers continually strive to achieve personal aims and overcome difficulties, rather than passively retreat from or be overwhelmed by frustration.”

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But this isn’t so much a skill as an outlook. Rather than viewing change as a threat, Patch says that active copers view it as opportunity. This requires two traits: stability and openness, all in one.

Put another way, active copers have what positive psychologists call “sisu”: an orientation to the world where difficulty is seen as opportunity, where you lean into a problem, try to understand it, and push yourself and the situation to shape the best possible outcome.

Pretty cool stuff. I’ve got more than game, I’ve got sisu! 🙂

Read more: http://www.businessinsider.com/quality-that-successful-leaders-have-2014-6#ixzz35J8C8ztn

All I Need To Know About Someone Is What Was The Last Book They Read

I’m not sure where I picked that concept up from, it’s probably a variation of a famous quote whose author escapes me. But for me there is a lot of truth to the statement. When you find out the last book someone read you can tell a lot about them. When you get them talking about it you can gain incredible insight into who they are and what motivates them.

In my case I picked up a book at the airport for my flight and to help me get into trainer mode. The book I picked up was Decisive, a business management and leadership book by the Heath brothers. It was on the top of a lot of 2013 lists and I had heard of it before. Once I started reading it, I quickly saw some key points I could roll into my next analytics training class.

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Here are some of the key points:

> Most decision are made in an instant and are often just a choice between two options.
> Although helpful, Pro and Con lists are limited in their effectiveness.
> Most business decisions, when looked at a few years later, were failures.

In the book the Decisive, the authors list four tips to help make better decisions:

1. Widen Your Options by eliminating factors that put artificial limits on our choices.

2. Reality-Test Your Assumptions by taking them out of our head and into the real world.

3. Attain Distance Before Deciding, which means don’t rush and gain other perspective.

4. Prepare to be wrong, the willingness to take risks is a challenge for all of us.

Its a great read, pick it up.

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.

Being A Great Analyst > Key Attribute #1 > Know A Lot

Often you here people in business talk about how it’s more important to be either a master at one thing or a jack of all trades. When it comes to being a great analyst, you see many who are great because they have mastered their subject or a certain analytics tool. On the flip side you see many great analysts who seem to know a lot about a lot and are proficient across multiple subjects and/or can use many analytics tools. So which is better?

From both my experience and my personal perspective, analysts who know a lot about a lot are rarer and more valuable to a business. Based on both an accumulation of knowledge and the ability to work in various environments, analysts who are considered to jack of all trades kinds are in general great analysts.

IMG_6912 However, I have also found that most business actually find more value in master of certain type of analysis work or someone who is great at using a certain tool. Specialization is something that is on the surface very impressive as it shows discipline and competency in a certain subject. They know a lot about their area of expertise and are recognized as such.

Occasionally you can even come across analyst who are both knowledgeable about a lot and even more knowledgeable about a specific subject matter. Now that is a rare breed.

So, no matter what type of analyst you are or want to be, the bottom line is you need to constantly read and connect and expand your knowledge… you need to know a lot if you want to be great!

Analytics Culture – The key to using analytics in a business is like a secret sauce. It is a unique combination of analytics talent, technology and technique that are brought together to enrich and empower an organization. A successful analytics culture is not easy to create, but DMAIPH can show you how. Contact DMAIPH now at analytics@dmaiph.com or connect with me directly so we can build a strategic plan to turn your company into analytics driven success story.

Learnings from a friend’s “Elements of a Losing Culture”

http://fortune100coach.wordpress.com/2013/08/26/elements-of-a-losing-culture/#comment-202

I just read my good friend and mentor Bjorn’s blog post and it made me think about how closely tied a business culture is to the analytics used in that business. Bjorn posted, “Success leaves clues and so does its opposite. Reality checks are important so we can tell where we are and properly assess what needs to be done. When we can’t seem to find the clues indicating a successful culture it’s time to look for its opposite.”

Let’s look at that comment from an analyst’s prospective. One of the clues I look for in a successful organization is an understanding of how decisions are made. Are they top down? Are the inclusive? And most importantly to me, how much data is analyzed prior to making decisions. For the most part great companies make great decisions and this feeds a successful and healthy culture. When decisions are made off the cuff, with little input from the ranks and without the benefit of good data… you get a recipe for a losing culture.

Bjorn mentions several other indicators of a Losing Culture. I want to add some data driven perspectives to them as well.

1. Lack of clear target, vision, etc. Having good metrics to monitor progress. Setting goals and then reporting and communicating them. There are key ways you can measure if a business has a healthy focus.

2. Lack of alignment. People don’t know how to compare themselves or even worse improve themselves. There is no sense of the big picture and little effort to work across business lines or help other teams. You need a lot of visualization of data and analysis to show how it all fits together. Dashboards and internal web sites, using visualizations like info graphics and data visuals can help people feel aligned and give them a sense of where they fit in.

3. Lack of authenticity. Know if your customers care. Knowing if your employees care about your customers and each other. Knowing if you stack up well with the competition. Knowing what about your business causes others pain and what causes satisfaction. Using surveys, focus groups and other tools to gather feedback will help your business be authentic to your customers and your employees. You cant really have loyal and engaged customers if you don’t come across to them as authentic.

To learn more about Bjorn and his consulting business, you can follow him here: http://fortune100coach.wordpress.com/