How Managers Can Get Started with Analytics


Here is another valuable Management Tip of the Day from Harvard Business Review. To sign up for a free subscription to any/all HBR newsletters, please click here.

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Analytics is becoming a competitive necessity for many managers. Even if it’s not part of your job description, there’s a good chance you at least need to understand the basics. Here’s how to get started:

o Get educated. Enroll in an executive education class, read books and articles, or take an online course to learn the fundamentals.

o Form relationships with your team’s quants. Show them that you value their skills and expertise. Help them understand the business so they can help you make the best decisions

o Establish open communication. Ask your quants lots of questions to make sure you know the estimates and assumptions in your data. Don’t be afraid to admit what you don’t know.

o Respect the data. Figure out the key metrics you need, then run experiments to test them. Data – not instincts or opinions – should drive your decision making.

Adapted from “How to Work Confidently with Numbers People,” by Rebecca Knight.

To check out that resource and join the discussion, please click here.

Also, you may wish to check out an anthology, Management Tips from Harvard Business Review, by clicking here.

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