“I don’t know why we didn’t get the mortgages off our books,” a senior quantitative analyst at a large U.S. That’s how companies like Merck, TD Bank, and Caesars Entertainment make it all add up to something useful. Instead, establish a culture of inquiry that focuses on learning the real truth behind the numbers. The intermediate phases, where the quants excel, are when you should ask lots of questions to keep efforts focused and to deepen your understanding.Īs you lead, avoid creating a climate of advocacy in which hired hands merely hunt for evidence to fit your preconceived notions. It’s also vital to recognize which parts of the decision-making process are your sweet spots-namely, identifying the central problem or question and presenting and acting on the results. You also should expect them to communicate their work effectively-and to truly comprehend it yourself before you relay it to others.
The “quants” have the detailed know-how, and working closely with the right ones is key. Learning basic statistical principles and methods is essential, but you don’t need a PhD in the stuff.
#Keep it up how to#
Tom Davenport shows you how to become an intelligent consumer of analytics so that you can make effective data-driven decisions for your organization. Analytics are a competitive necessity nowadays, but hiring “quants” who can manipulate big data successfully is not enough.
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