DRL MCQ 2.pptx

The Art of Analytics Business Translation Analytics business translation is the process of interpreting complex data into actionable insights that guide data-driven decisions. What is an Analytics Business Translator? 1 What They Do 2 Why We Need Them 3 Essential Skills An analytics busin...

The Art of Analytics Business Translation Analytics business translation is the process of interpreting complex data into actionable insights that guide data-driven decisions. What is an Analytics Business Translator? 1 What They Do 2 Why We Need Them 3 Essential Skills An analytics business Without an analytics Strong analytical skills, translator bridges the gap business translator, business acumen, and the between business businesses risk making ability to communicate stakeholders and technical decisions based on insights to non-technical experts to ensure data- incomplete or inaccurate stakeholders are key to driven decision making. data. being an effective translator. The Importance of Analytics Business Translation Clarity Insight Impact Analytics business translation Translations can uncover insights Analytics business translation can ensures clear and accurate that would otherwise remain drive profit growth and operational communication of insights that hidden in complex data sets. efficiency by guiding smarter guide decision making. decision making. Key Skills Required to be an Analytics Business Translator Communication Visual storytelling Industry Knowledge Effectively communicate Present complex data in a way Stay up-to-date with findings and insights to both that is visually appealing and advancements in the industry technical and non-technical easy to understand. to be able to recognize stakeholders. opportunities and challenges. Data Analysis Analyze data sets to identify trends and patterns that can be turned into actionable insights. Business (Analytics) Translator The core of the Analytics Translator function is the second result area, Translating analytics to business. We use the 5 step Data Science process as defined by McKinsey: 1.In identifying and prioritizing business use cases, as an Analytics Translator, you work with business-unit leaders to identify and prioritize problems that analytics is suited to solve. 2.In collecting and preparing data, as an Analytics Translator, you help identify the business data needed to produce the most useful insights. 3.In building the analytics engine , as an Analytics Translator, you ensure that the solution solves the business problem in the most efficient and interpretable form for business users. 4.In validating and deriving business implications, as an Analytics Translator, you synthesize complex analytics-derived insights into easy-tounderstand, actionable recommendations that business users can easily extract and execute on. 5.In implementing the solution and executing on insights, as an Analytics Translator, you drive adoption among business users.