The case for hiring more analysts
Benn Stancil
Mode
The fundamental objective in collecting, analyzing, and deploying data is to make better decisions.
Source: Díaz, Rowshankish, and Saleh, "Why Data Culture Matters" McKinsey Quarterly.
...the most common objectives...are “advanced analytics/better decisions.”
Source: Davenport and Bean, "Big Companies Are Embracing Analytics, But Most Still Don’t Have a Data-Driven Culture", Harvard Business Review.
...data analytics is invaluable...for helping to define goals, roadmaps, and strategies.
Source: Sequoia, “The Building Blocks of a Data-Informed Company”.
Data driven
Decision making
strategic analysis
=
+
Data driven
Dashboards
Daily emails to execs
≠
+
Data driven
Decision making
Strategic analysis
=
+
4%
employees
100
employees
100
monthly expenses
$1.7m
employees
100
monthly expenses
$1.7m
spend on data
$75k
employees
100
monthly expenses
$1.7m
spend on data
$75k
spend on lunch
$30k
Why do we data driven?
feel
Self serve
what self serve is
Consider
access analysis
≠
Jeremy Stanley
First Round Review
Analytical rigor:
How logically sound, complete and meaningful was the approach?
Source: Stanley, "How to Consistently Hire Remarkable Data Scientists," First Round Review.
150
applicants per hire
Source: Stanley, "How to Consistently Hire Remarkable Data Scientists," First Round Review.
Self serve .
design?
Self serve .
marketing?
Sources: u/getToTheChopin, “Lifestyle Inflation”; Krugman, "Schroedinger’s Tax Hike".
Knowing SQL doesn’t make me an
any more than knowing Photoshop makes me a
analyst
designer.
Does it matter?
2018
2019 target
Company headcount
This company
Who we hire will define what our company becomes.
Source: Jobvite
What did they find?
Getting promoted is good
Junior hires tend to get promoted
What did they find?
Getting promoted is good
Junior hires tend to get promoted
Hire more junior people
What did they find?
Getting promoted is good
Occasionally avoid catastrophe
Analytical rigor helps...
Occasionally avoid catastrophe
Analytical rigor helps...
Prevent spreading misinformation
Source: The New York Times
Occasionally avoid catastrophe
Analytical rigor helps...
Prevent spreading misinformation
Occasionally avoid catastrophe
Analytical rigor helps...
Prevent spreading misinformation
Find new opportunities
Created on The Knot.
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www.daniellovessharon.com
Source: Segment.com, “The Rise of the Chief Data Officer.”
Source: Segment.com, “The Rise of the Chief Data Officer.”
Source: Segment.com, “The Rise of the Chief Data Officer.”
Occasionally avoid catastrophe
Analytical rigor helps...
Prevent spreading misinformation
Find new opportunities
Occasionally avoid catastrophe
Analytical rigor helps...
Prevent spreading misinformation
Find new opportunities
Hire more analytical thinkers!
150
applicants per hire
Source: Stanley, "How to Consistently Hire Remarkable Data Scientists," First Round Review.
Analytical and business expertise
Engineering and development
Statistics
Analytical and business expertise
Engineering and development
Statistics
Self serve is good at replacing these
Engineering and development
Statistics
Analytical and business expertise
2.1m
Social sciences
STEM
Bachelor’s degrees conferred, 2005-15
3.0m
Source: National Center for Education Statistics
Social sciences
$100k
STEM
Median earning by degree
$40k
$80k
$60k
Math, CS
Physics
Stats
Economics
Political science
History
Sociology
Psychology
Source: Georgetown Center on Education and the Workforce
Bachelor’s degrees awarded to women, 2015-16
Social sciences
STEM
50%
100%
26%
61%
Source: National Center for Education Statistics
How do we . data driven?
become
2. Celebrate analytical rigor
3. Put analysts in every room
Questions?
BACKUP
visible valuable
≠