By Andrew Crider, Head of Digital Transformation
Analytics as a practice has never been more critical. Uncertainty plagues the world, workforces are changing dramatically, and technology is evolving rapidly. Business leaders are looking to analytics departments to provide the answers, but how should those answers be generated?
Malcom Gladwell popularized the rule of thumb for 10,000 hours of practice to become an expert in his book Outliers: The Story of Success. In today’s business environment, ten thousand hours is no longer a realistic metric as consumer behavior and technology evolves too quickly. The yardstick that we should be using is ten thousand experiments.
In the same time that one person can be “an expert in the analytics discipline” (five years), Facebook will conduct approximately 500K+ experiments.
Today, the most innovative businesses run thousands every year–Intuit: 1,300, P&G: 7,000–10,000, Google: 7,000, Amazon: 1,976, and Netflix: 1,000–thanks to a combination of new technologies and “lean” business approaches. — via FastCompany.com
At Provoke Solutions, our Analytics and Digitial Transformation practice centers on finding what experiments will work for you. By utilizing your analytic assets, i.e., business analysts, data, and industry knowledge, you can get to 10,000 experiments, and move your business in a data-driven manner.
Failing in one experiment is not nearly as important as long as you fail fast.
To perform these ten thousand experiments, you are going to need two things: expertise and technology.
At Provoke, our team of Solution Architects, Data Engineers, and Business Analysts can bring insight into what your market or industry is doing in terms of analytics and how you can turn your data into valuable knowledge.
Our RADA Platform (Rapid Autonomous Data Analytics) can dramatically lower the cost of your experiments. We can help you build a bespoke Analytics Experimentation Engine for you, exploring tools like Upsolver, Looker, Snowflake, and Transform.
Just some of the services in our RADA offering:
- An analytics hub like Looker
- A scalable data warehouse like Snowflake
- To reduce your cost of ingesting and managing big data with a tool like Upsolver
- To build a KPI library with all of your new experimental data points with Transform
Agility and the willingness to experiment will be critical in reaching the next level of your analytics journey. Provoke Solutions and our unique RADA offering can help you determine what data and KPIs are critical for your success and quickly automate the reports you need.
Reach out to us today to schedule a consultation. We’d be happy to discuss your situation and see how we might be able to help.