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How Big Data is Transforming Teams

A new research report has highlighted an interesting challenge (and opportunity) facing retailers. The emergence of big data as a key competitive tool has created the need to re-look at the mix of skill sets in the team.

In the past, the key skill set for a new hire was retail experience — specifically because the instinct needed to handle any aspect was driven off experience with retail customers. Success was a bit of a random walk and the human factor was the key variable that distinguished leading companies from the also rans.

Changing the Rules -- For the Better

Big data has changed things dramatically — putting huge amounts of data in the hands of decision makers. The biggest impact has been the reduction in the need for instinct based (subjective) decisions, replacing them with tactics based upon specific data driven insights. Retail decision making has been fundamentally changed — for the better — with managers now armed with a much clearer picture of who their customers are and much more of a sense of what they really want.

Think of the Commercial Airline Pilot

The shift is akin to that of the airline pilot. Not long ago a pilot was a hands-on operator of an airplane (especially commercial airliners). Now so much of the work is done by the onboard systems that pilots are more software operators than airplane operators. That’s not to say that in key situations flying skills aren’t important, but the shift in skill requirements is clear.

How is Your Company Evolving?

How is your company preparing for the ongoing shift towards data driven management? Is your team evolving towards a greater mix of skills focused around gathering, manipulating and leveraging data to drive faster and more accurate decision making?

How much does your company still rely on gut instinct of ‘industry experts’? Has your management considered the long term ramifications?

Jul 8, 2014 | Original Link

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