Converting data analytics into maximum business value — Wendy Lynch // Analytic-translator.com

Wendy Lynch, Founder of Analytic-translator.com, discusses data analytics success factors. Business leaders desire results that require no explanation due to their simplicity, while data scientists prefer complex results that prompt everyone to seek an explanation. However, bridging this divide is crucial to ensure that data analytics provide business value for organizations. Today, Wendy shares her insights on how we can convert data analytics into maximum business value.
About the speaker

Wendy Lynch

Analytic-translator.com

- Analytic-translator.com

Wendy is Founder at Analytic-translator.com

Show Notes

  • 01:39
    Striking a balance between complexity and clarity when communicating data insights
    Data scientists need to focus on delivering clear, actionable insights instead of presenting overly complex scenarios or technical details. They should prioritize addressing the core question or decision the business seeks to resolve, aiming for concise and relevant communication.
  • 04:44
    Best practices for communicating value for a business via data analytics
    To communicate effectively, data scientists must consider the audience's expertise level and align results with the action or decision to be made. Simplify results to concise, specific statements without complex qualifiers, ensuring clarity in the presentation.
  • 07:32
    Optimizing data communication with an analytic translator
    An analytic translator can help bridge the communication gap between data scientists and business stakeholders. They can convert complex data findings into understandable language for practical use without devaluing the discoveries of the data scientists.
  • 10:11
    Aligning business goals with analytics requests
    Many companies arent aligning their goals with the analytics they request because leaders dont know the right questions to ask data analysts. Its crucial to have a go-between to translate what the data scientists can accomplish to executives in order to achieve alignment.
  • 12:34
    Fostering collaboration for successful analytics and business goal alignment
    Both data scientists and business leaders need to have an openness and willingness to learn when it comes to analytics and business value. Clear goal setting and a shared understanding of purpose at every level are crucial for successful outcomes.
  • 14:01
    Data literacy and its limitations in organizations
    Beyond data literacy, people and business literacy must be taken into consideration. By taking an integrated approach, individuals can be trained based on their different literacies to bridge gaps rather than enforcing universal data literacy across the board.
  • 17:14
    Insight driven decisions vs. data literacy across an organization
    Fostering insight-driven decisions, not universal data literacy, is key across the organization. Leveraging data literacy, translation, business and people literacy skills within teams maximizes success more effectively than expecting data literacy.
  • 19:25
    Maximizing business value from analytics
    Business leaders should be open to learning and asking bigger questions about the possibilities within their organization's data. Having a high-level analytic translator can help leaders grasp what's possible and bridge the gap between data scientists and business needs for better value from analytics.

Quotes

  • "Business people want results that are so simple, they need no explanation. Data scientists want results that are so complex and interesting, that everybody wants an explanation." - Wendy Lynch

  • "To avoid stifling all the great discoveries of data scientists, someone trained in analytic translation may be the best person to convert complex data insights into simple language that business stakeholders can understand." - Wendy Lynch

  • "A lot of data-oriented people say everybody has to know data. But not everybody wants to do that. Why don't we train up people in each team to be the representative that helps understand the data?" - Wendy Lynch

  • "Only a third of C-suite executives are data literate." - Wendy Lynch

  • "I would argue that we don't want data literacy. What we want is insight driven decisions, and data-aware decisions at every level of the organization." - Wendy Lynch

About the speaker

Wendy Lynch

Analytic-translator.com

- Analytic-translator.com

Wendy is Founder at Analytic-translator.com

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