Driving Data for Formula One Performance

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By Mandeep Singh Kwatra, HGS Vice President of Solutions and Capabilities

Earlier this year, HGS released a white paper on the top 10 trends in customer service. Over the next few months, we’ll dedicate a blog to each of these CX game changers. Here, we dissect CX Trend No.7: Rise and Recruitment of More Data Scientists and Analytics Professionals.

Business analytics is now well understood as a key driver of opportunities like growth and competitive advantage. But how do you get to the right data, for Formula One performance? Consider this analogy: your best, most actionable insights are an engine, supported by the four tires of voice of the business, voice of the process, voice of the customer, and voice of the employee. Who’s at the wheel to drive the right insights? Make sure it’s an analytics professional.

A recent HGS webinar poll showcased the surge of interest in this role. The poll question, “Do you have a dedicated data analyst?,” shed light on this role’s increasing popularity surge among corporations, as 50% have already hired this position (with 21% focused on digital and automation combined) and 50% stating “Wish I did.”

Why this surge in interest? Industries may understand they are a half-step behind. In fact, according to a January 2017 Forrester study on behalf of Data Science, only 22% of firms are using analytics and data science to bring the right kind of actionable knowledge. What’s missing, for most of these firms, are both strategy and the analytics professionals with the expertise and strategic  mindset to organize and make decisions on data mined.

Step one of catching up means articulating a data strategy to ensure optimal return on investment in staff and skills. And, ultimately, the analytics professional is the driver of the best ROI—the expert who can fully unlock the value of the data mined, for real outcomes like significant cost-containment, revenue generation, and even product development.

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