[Sponsored by The University of Oklahoma Online]

How Behind-the-Scenes Data Teams Are the Real Rainmakers in Business Growth

If you're not familiar with the term, a "rainmaker" in business vernacular is someone who brings a great change or large amount of new business. For a long time, the "rainmakers" in business tended to be charismatic leaders or high-profile executives. But the digital economy created a new kind of rainmaker, who doesn't work on the conference room floor. Instead, they're behind the scenes, analyzing raw data and turning it into strategies for a company's growth.

Analytics roles in business aren't merely support functions anymore -- they're critical to helping a company thrive. Some of the most successful businesses of the last decade are ones where data professionals are shaping strategy.

The Importance of Analytics-Driven Growth Strategies

So why are analytics-driven strategies so important? For one thing, the days of running a business on instinct and experience alone are over. These days, you need the kind of hard evidence that only comes from data. Whether it's predictive analytics, churn modeling, pipeline forecasting, or customer segmentation, these disciplines have become essential to a growing company.

Most importantly, data no longer just sits in silos the way it used to. Data-driven insights from sales, marketing, operations and customer service are often integrated to provide a high-level, unified view of how the business is doing. This leads to smarter decision-making, optimized customer experience that improves conversion and retention, and a smarter allocation of resources across all channels.

In short, an analytics-driven approach leads to a more cohesive and profitable growth strategy.

From the Back Office to the Boardroom

There was a time when data and analytics specialists were seen primarily as number crunchers, set apart from more traditional leadership. But that's all changing. Data teams now have contributions to make to pricing strategy, product roadmaps, and enterprise deals, from modeling ROI to balancing profitability with features.

This shift is so dramatic, it’s driving professional growth for data specialists. Many are pursuing advanced degrees to increase their earning potential and unlock new career opportunities.

One option is a master’s in business analytics online, offered by the University of Oklahoma, a highly reputable public research university. Programs like this combine the credibility of a well-regarded graduate degree with the flexibility of online study. They allow professionals to keep working while building advanced skills in areas such as predictive modeling, data visualization, and analytics strategy.

For many data professionals, the payoff from pursuing advanced study is clear: a master’s in business analytics can open doors to high-demand career paths. Graduates are stepping into roles such as business intelligence consultant, marketing or sales operations analyst, product strategy analyst, or revenue operations manager.

Why Organizations Must Prioritize Developing Analytics Talent

Now that we've established how in-demand skilled analytics talent is, let's dig into why it's so important.

The truth is, your company may be leaving money on the table by sitting on mountains of untapped data. Or you may be underusing your data analysis by confining it to IT or finance, where its impact is limited.

By placing priority on developing your analytics talent (whether that's hiring new skilled professionals or training up existing employees), you can unlock the full potential of your data. A trained or well-educated data analyst can bring a powerful arsenal of skills to the table:

● decision analysis, to bring data insights in line with the company's goals;

● data visualization, to make complex information both digestible and actionable to the "layman";

● statistical modeling and forecasting, to predict trends and shifts in the market before they happen; and

● data management and governance, to ensure the accuracy and legal / regulatory compliance of your data.

Without these skills, a business risks losing out -- either by missing opportunities or making decisions based on incomplete or inaccurate information. That's a mistake few businesses can afford to make in today's economy.

Building a Data-Driven Culture to Drive Growth

As you might expect, as vital as a talented analytics team might be, that also may not be enough for your organization. To really make full use of your data, you may have to embed "data thinking" into your entire culture.

This might include building a diverse analytics team to include specialists in data engineering, data mining, statistical modeling and machine learning. It may also mean bringing data experts in as early as possible to strategic planning, to make sure those strategies are built on facts.

It's also important to facilitate analysts working alongside marketers, salespeople and product developers, rather than confining them to IT or finance. And finally, it's worth investing in the ongoing education and training of your data analysis team, whether by helping them to pursue a masters in business analytics.

Today's rainmakers aren't just executives and salespeople -- it's also those who use hard facts to inform strategy, forecast market trends, and help craft long-term plans built on genuine insight.

###

By Yessenia Sembergman

Keywords: Analytics, Big Data, Future of Work

Follow Us On