Factor for Success in Executing Successful Business - Assignment Example

First Peer Review What do you think are the 3 most important factors for successfully executing a business analytics project and why? I believe the number one factor for success in executing successful business analytics projects is appropriately setting expectations. Even with a technically 100% successful implementation, if the end-user/stakeholder expectations are different than what is delivered (even if it is to specification) the project will ultimately fail. In addition, clear requirements gathering and specifications as well as a real understanding of the data are the other two most important factors. Clear requirements gathering and specifications set the roadmap for the project, without which the project cannot succeed. Without clear understanding of the data, it is very difficult to collect clear requirement and set both specifications and expectations. Data must be clearly defined and understood to be leveraged by any platform. It is true that a proper understanding of requirements and specifications is necessary for the success of a business analytics project. This would ensure that the analyst and the client are on the same line of thought before the project starts. Clear understanding of the data is also a must, since it is impractical to provide an analytical solution using data which you do not understand. 2. From your past and current experience what do you think is biggest risk around executing business analytics projects for your company and why? Project scope creep (assuming clear expectations and corresponding specifications) is the biggest risk. If all of the important pieces are covered, scope creep can cause delay, missed development milestones, design flaws and an ultimately late, over budget and incomplete project. The writer does not seem to have an understanding of project scope creep. Scope creep occurs when the scope of a project changes, in most cases grows, during development. With objectives and requirements properly specified at the beginning of the project, this should not be an issue 3. List and justify five skills that you would look for to hire a business analytics professional. a) A clear ability to translate and interpret business requirements into technical ideas: I have found that this soft skill is absolutely necessary in the age of portable, mobile, agile and high volume analytics. There is no really ability to encapsulate technical staff from business users and the direct communication between the two can heavily influence success and trust. b) A solid understand of SQL(and NoSQL methods if appropriate), data relationships, and basic database design: all solid analytics professionals should have good SQL skills and a solid ability to explore, understand and prototype data. This gives them a significant head start when discussing and analyzing requirements and designs. c) An ability to frame and bracket an analytics problem and isolate it from the noise of other issues, or diagnose issues that are not data problems (such as data entry issues). A successful analytics professional needs to understand that not every data problem is solved by building new solutions. Many issues can be solved with existing tools and data cleansing d) A strong understand of industry standard tools and platforms. A good solution provider needs to understand the existing options and how they stack up against each other, how they fit into the existing environment, and how they work together to provide successful and educated solutions e) Some hands on experience with development this offers solution designers (architects), project managers, and analysts a realistic view of the relative work required to implement a suggested solution. The listed skills are valid as relating the position of a business analytics professional. Note that Sql is just a programming language that is used in querying database systems. A business analytical professional will have to understand the entire database system, for which Sql is a component. What does the writer mean by “There is no really ability to encapsulate technical staff from business users and the direct communication between the two can heavily influence success and trust”? Second Peer Review 1. What do you think are the 3 most important factors for successfully executing a business analytics project and why? The three most important factors for executing business analytics project are people, data and applications to assist with the information (Chapter 3). As outlined in our text, without the right personnel in key roles to execute such a project there will be issues for sure that could be hard to address without a clear understanding of roles and tasks that need to be completed. The information collected and how to properly catalog the information is key. Data Warehouses or Data Marts is the difference of having a large database where several individuals can access and parse through the data or breaking the data up in to small groups that can be more specific to a certain organizational need. Finally, the technology used to analyze the data can be done in different ways based on what type of information that is needed; Data Mining, Text Mining, or Web Mining are a few techniques used. I would have expected more specific answers to this question as opposed to the vague and generalized analogy of “people, data and applications”. The technology used to analyze the data is not a key factor in the determination of the success of the project. Rather, it is the statistical approaches employed that are of utmost concern. The technology used is purely a matter of it being fit for that particular purpose at that particular time. 2. From your past and current experience what do you think is biggest risk around executing business analytics projects for your company and why? In my opinion, the biggest risk is people. Having the right person or persons in place is paramount. Someone that can lead the project and communicate effectively while having the skillset to analyze the data and make in meaningful to the business. Weather this be one role or broken out in to a few roles to suffice the needs of the business. People is not a risk. The explanation on how people are a risk is not convincing. Someone who communicates effectively is a positive asset to the project, not a risk. 3. List and justify five skills that you would look for to hire a business analytics professional. First and foremost; communication. Being able to conduct meetings and interconnect with the business effectively as well as the BA team. Critical thinker Being able to take several options and discuss effectively to determine the best course of actions. Analytics (obviously) Being able to process through the use of the resources available to produce a viable outcome. Leadership Being proactive; self-manage Written this ties in with communication, however the need to document and provide adequate documentation is a must. The listed skills are valid, the writer would benefit from use of proper grammar and sentence structure. Read More