Since we regularly have discussions of topics on our LinkedIn page, I thought it would be good to post some of those discussions here, to share with our blog readers. Feel free to discuss below as I post these. I figure we can have an edition every 3-6 months or so as more of these are released through the Group's LinkedIn group.
SAEG Thought: Its all about fit and reducing error. Its also about accepting imperfection.
There are many models available to try and explain a behavior or a result. The key is to find a method that 'fits' well to your given problem, and reduces your error in predictions. When it comes down to it, if you understand that any result or behavior can be explained mathematically, with a function or line (for example), you can use that knowledge to create the means to understand and explain it. You must also accept that no model you do will be perfect. Understanding the imperfection can help you improve it in the future...but even then it won't be perfect...error wil always exist. Minimizing that error is truly key.
PR lunch meetings are a great way to break the ice
Sometimes tensions can rise between analyst and line of business (or management). This may be more due to lack of communication and the natural separation that exists between the two parties (not necessarily due to behavioral problems). I recommend inviting your line of business manager to lunch as a way to 'break the ice' and to create a more 'accepting' bond between you. You could use lunches to talk about business or just to get to know each other better.
Always answer the 'so what'.
Something that has been ingrained in me as an analyst over the years is the importance of answering the 'so what'. 'What does this mean?', you might ask. You may present findings that you know are important, but they may fall flat if you don't tell your audience the importance of 'what' you are showing. In other words, answering the 'so what' lets your audience know why the 'what' of what you are showing is important for them to realize. Are you answering the 'so what?'
Animosity towards analysts from managers with Business Administration degrees. How do you cope?
One thing I have noticed as an analyst is the animosity that managers (typically with Business Administration degrees) have towards analysts. I think this has been seen throughout history too... people with power tend to think themselves better than someone smarter thats under them. Have you seen this in your workplace? How do you handle it? Hmmm...this sounds like a great article idea...be prepared for more writing on this.
This may sound trivial and something you already know, but this really saved me today when trying to disect and understand a complex formula...PEMDAS...want to guess what it stands for?
Please Excuse My Dear Aunt Sally. Its basically the order of operations when working with any mathematical formulas. P is for Parentheses, E is for exponents, M is for multiplication, D is for division, A is for addition, S is for subtraction. If you remember this, any complex formula you are confronted with will bow to your mastery!
SAEG Tip for the Day--Formatting, having someone validate your report before sending it to a decision maker
Its the small things that can separate an effective analyst from 'just an analyst'. Before you send an important report to a decision maker at your company, I recommend that you have it validated by someone else prior to final submission. If that is not feasible, validate it yourself against a past report. Further, make it easier for the person on the other end by formatting the report for easy printing. The extra effort will help you save face and assist in helping you come off as an analyst that cares about the end user.
SAEG Tip for the Day--Drawing out your process to avoid analysis paralysis
Sometimes you are analyzing something completely new and you might just rush into the data forest, without having an idea of where you're headed. Before doing this and risking the waste of time and analysis paralysis, try drawing out exactly what you want to solve first and organizing the thoughts and ideas you have or want to prove. It might also help to try and understand the limitations of your data before 'going in'. Once you have a map that you think you want to use, go into your data and use this as a guide to get you where you want to go more
SAEG Tip for the day--making data entry enjoyable
Sometimes data comes in a form that needs to be manually entered. You just can't avoid this sometimes. Besides using cutting and pasting to make date entry easier (if you're working with end of month data, don't forget your leap years!)...having music handy to listen to while you work can make the chore more enjoyable. Of course, your employer needs to allow it and you need to make sure you have good headphones that contain the sound (so you don't bother your co-workers). What is your favorite music to listen to?
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