Predictive Analytics Is A Team Sport for Technologist and Business Resources

Globe showing North America and resting on financial papers

Globe showing North America and resting on financial papers

Over the past couple of weeks I have been talking about whether or not Predictive Analytics will result in a net loss of jobs.  On November 9, 2015 I published an article titled, “IT Automation and ITOA Will Change and Create Jobs More Than Kill Them,” in which I stated, “Ultimately, enterprise decisions will be made on cost savings, increases in productivity, increases in available knowlege (i.e. Business and Operations Intelligence) and Return on Investment (ROI). And, as with any Paradigm Shift in technology, there will be some changes in job requirements that will impact some workers.  However, I believe that ultimately, there will be net positive gain in the number of jobs due to the implementation and evolution of  IT Automation, Information Technology Operations Analytics (ITOA) and Predictive Technology / Machine Learning.”

On November 12, 2015, I published an article titled, “Is There Life Beyond Automation?,” in which I stated “As I continue to talk to the CIO’s of the Global 2000, research and write about ITOA and IT Automation, offer my opinions about the ROI of automation and the best vendors and how there is a paradigm shift in the works, I need to stop and realize that there is an H Factor to all of this that we can’t overlook.”

As I continue my research on this topic, I found an interesting article on the Forbes.com site written by Erika Maguire on November 17, 2015 titled, “Predictive Analytics Is A Team Sport.”  This article references research sponsored by Lattice Engines titled “The Predictive Journey: 2015 Survey on Predictive Marketing Strategies, that finds predictive analytics skills are in great demand.

The results of this research reinforces my assertion that the implementation and evolution of Predictive Analytics will actually result in net increase in the number of jobs.

The full text of Erika’s article is as follows:

Do organizations have enough of the skills they need to eventually reap the rewards of predictive analytics? If not, where can these skills be found?

These are the questions that were asked of 306 executives participating in a recent Forbes Insights survey. The research, which was sponsored by Lattice Engines and is outlined in the report, The Predictive Journey: 2015 Survey on Predictive Marketing Strategies, finds predictive analytics skills are in great demand.  In terms of skills sought, analytics/predictive analytics are in high demand at more than two-thirds (68%) of organizations.

Ultimately, predictive marketing extends well beyond the marketing department — information moves both upstream and downstream, providing guidance not only to top-level executives, but also to production, procurement and sales departments, as well as supply-chain partners and vendors. This calls for not only technical and data analysis skills, but also business communications to help all parts of the enterprise participate in, and benefit from, a predictive marketing strategy.

The rise of predictive marketing means a growing integration between marketing executives and technology specialists. Marketing teams need to better understand the implications of data science and move their organizations toward competing on analytics. This calls for more analysis tools and skills.

Organizations that develop and leverage these capabilities and embed them into their full range of marketing activities will have the advantage in their markets. Organizations need highly skilled professionals, versed in everything from data science to content development, to make their analytics efforts work. A majority of organizations have rolled out internal training programs that will help develop such skills.

However, more important than acquiring the right skills is leadership. “Any sort of change first requires leadership,” says Paul Sallomi, vice chairman and the Global and US Technology Sector leader for Deloitte LLP, quoted in the report. “It requires creative minds. It requires ideas. It requires a clear management platform and infrastructure, partnering together a solution that has a clear measurable outcome. It certainly requires IT and analytics and software-based skills.”

Executives report there is an intense need for the skills that can deliver predictive marketing capabilities. Analytics/predictive analytics skills are sought by more than two-thirds (68%) of organizations. Another 61% say basic operations skills are the most valuable commodity.

Organizations are undertaking a variety of training and support approaches to build their analytics and predictive marketing skills bases. There is wide adoption of on-site training and education for employees, as well as informal but ongoing approaches such as coaching and mentoring. At EMC, the talent gap led the organization to develop its own custom training program, along with its own certifications.

In terms of predictive marketing maturity, those organizations that are early in the process are just as likely as their more advanced counterparts to be encouraging and supporting ongoing training and education. Organizations still in the early stages of their predictive marketing efforts recognize even in these early stages, employee training in new techniques is essential.

“It’s a team sport,” says John Smits, data science operations and chief data officer at EMC. “When you couple together complexity of data, complexity of business problems you’re trying to solve, you need a team of people that have deep expertise in each one.”

To download the full report and learn more about the rise of predictive marketing, click here.

 

About Charles Skamser
Charles Skamser is an internationally recognized technology sales, marketing and product management leader with over 25 years of experience in Information Governance, eDiscovery, Machine Learning, Computer Assisted Analytics, Cloud Computing, Big Data Analytics, IT Automation and ITOA. Charles is the founder and Senior Analyst for eDiscovery Solutions Group, a global provider of information management consulting, market intelligence and advisory services specializing in information governance, eDiscovery, Big Data analytics and cloud computing solutions. Previously, Charles served in various executive roles with disruptive technology start ups and well known industry technology providers. Charles is a prolific author and a regular speaker on the technology that the Global 2000 require to manage the accelerating increase in Electronically Stored Information (ESI). Charles holds a BA in Political Science and Economics from Macalester College.