Managing Analytics Projects

• Activity Number: 225
• Type: Invited
• Date/Time: Monday, August 10, 2015 : 2:00 PM to 3:50 PM
• Sponsor: Section on Statistical Consulting
• Author(s): Michael Greene* and David Steier
• Companies: Deloitte Consulting and Deloitte Consulting
• Keywords: Analytics Projects ; Statistical Consulting ; Managing projects

Abstract

Analytics projects are often undertaken by statistical consultants in the business sector. Unfortunately many business analytics projects fail to achieve their goals. Often, we statisticians focus on aspects such as the lift curve or the model fit while ignoring critical aspects of managing the project, such as gathering requirements, engaging stakeholders, and choosing between infrastructure platforms. Statisticians could play many roles throughout the project life cycle and, we believe, improve analytic project chances for success. We illustrate these roles by describing business analytics projects, typical project activities and opportunities for statisticians. We will discuss positive (and negative) outcomes of these topics, illustrated through case studies and experience on analytics projects. The paper includes an extensive listing of red flags and warning signs and followup questions to assist the analytics practitioner or statistical consultant in navigating the dangers to successfully land the project.