Analytics is the buzz word in today’s world! Everyone wants to be connected with Analytics profession in one way or the other. And it is good – I can assure you that the future is bright for Analytics industry after being in the industry for over 13 years now. So where is the problem?
Well, every single analyst or Analytics aspirant I come across these days would normally talk about his or her technology skills. “I am an “expert” in xyz tool for data analytics or abc tool for business intelligence and reporting. I have worked on 3 data visualization platforms.”
Good – you have worked on all these platforms – so what? Does that make you a good analyst? NO.
What makes you a good analyst is your subject matter expertise. What makes you a good analyst is the knowledge and experience to differentiate between two different time-series models and which one to apply in which situation. What makes you a good analyst is the understanding of gaps in your data and how to address them.
Now, I am not trying to undermine the importance of technology here – technology is important. The Analytics revolution that we have seen in last decade or so would not have been possible without technology. My point is not to make technology your driver for your analytics practice. Ideally, technology should adapt to business requirements, but in today’s world, we try to fit business processes within the technology framework! That’s the problem – we focus on technology and we forget the core issue!
Also, don’t get me wrong – expertise in Analytics technology is important for anyone who is interested in a career in IT industry – a programmer working for a software company cannot turn back and say that technology is not important for him or her. For him/her, technology is bread-and-butter. Not the same for someone interested in “Analytics” industry – working as an analyst or aspiring to be an analyst!
Fundamental knowledge or core body of knowledge, like applied Math, applied Statistics, Econometrics, Decision Science, Management Science, etc. is more important for an analyst. Remember – the core job of an analyst is to solve some of the most complex business problems and not to drive use of technology! The key reason why expertise in Analytics technology will not help you build a successful career!
Original Article on LinkedIn: https://www.linkedin.com/pulse/article/20141007084034-23651558-why-expertise-in-analytics-technology-will-not-help-you
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Kushal possesses over 13 years of wide-ranging experience in the fields of Finance, Economics and Management with focus on Analytics practices. He started his career as a quantitative trader for a leading trading house headquartered in Ahmedabad. After 5 years of successful career in commodities and FX trading and risk management, he moved to consulting and KPO stream. He is associated with Aon Plc. since 2010, where he was instrumental in setting up the Global Spend Analytics function for Aon in 2010-11. He currently leads the Global Spend Analytics function for Aon providing Financial Analytics, Data Analytics and Internal Consulting services to Aon’s businesses globally with a focus on business process optimization.