Someone asked this on Quora and here’s my reply:
As a data analyst, you should work with the CEO (or other decision makers) on a quarterly (or more frequent if possible) and learn about #1 Strategic objectives and initiatives — #2 after that, you should work together and figure out how analytics could help these initiatives.
So why is learning about strategic initiatives from the executives important?
- Because analytics could be applied to lot of problems but you and your team might just have limited bandwidth.
- Also, executives want to stay focused on what’s important now and so if your priorities align then you are much likely to succeed in the role.
Let’s take an example:
Scenario 1: As a data analyst, you create bunch of reports from let’s say Google Analytics and throw them at the CEO! It has everything like visitor stats, acquisition stats, retention stats, behavior stats, conversion stats among others! Now by doing so, executives might get what they asked for but then they will still have to go through the reports and map it back to their strategic initiatives and figure out the recommendations on their own. Also, executives might not have the time to do this and may miss critical insights.
Scenario 2: You know that the one of the strategic initiate for the quarter is to improve the conversion rate from landing pages to order-complete page from 1.25% to 1.40% — so your analysis that you send to the executive would not only be focused on just that but also include “recommendations” — like it seems that there is a significant drop-off after customers learn about shipping cost. Then the executive could use those recommendations to drive actions. There’s also another benefit: Any ad-hoc data request that doesn’t align with the strategic objectives can be postponed (or de-prioritized) and let’s you focus on what’s most important for the company.
I prefer scenario #2. And try to create this culture wherever I am working. Executives should be open to sharing strategic initiatives at high-level with everyone in the company and help align everyone’s priorities.
Note: This doesn’t mean that you don’t create reports, you still do that for broader consumption — especially the Key Performance indicators that are key for success but you should look at automating most of that and focus on data analysis and find recommendations that the executives could take some action on.