Difference between a forecast and forecast by a strong analytics leader
The softer skills in Analysts play a dominant role in creating a first class forecast that is dependable and instils confidence within the business.
By now you would have established a knowledge of skill sets within your analytics practice and gained an understanding of the benefits an analytics leader can bring to the party versus a good manager. Nowhere is this more apparent than when considering and delivering forecasts.
Having spent considerable time working for businesses in different industries and markets, I have seen the difference that adding soft skills to core technical requirements can make to delivery of a forecast.
A good forecast will deliver a technical model with a low % error, will be robust, stable and scalable and fix any divergence. All of which are great but in order to get traction within the business it needs to be believed.
A first class forecast is not only technically sound and accurate but is also communicated succinctly and timely, is believable and convincing and able to flex to business strategy. This is only achievable with a strong leader who is proactive and eager to understand everything at the most granular available interval and who can engage the action team to deliver quickly.
In short, technical capability is important but a leader that understands the business requirements and how data adds real value coupled with the ability to communicate and influence at board level can change company fortunes.
Blue Label Consulting
Brendan launched Blue Label Consulting in 2011. With innovative use of Data through AI, ML and other quantitative methods, he delivers robust analytics and actionable insights to solve business problems.