Do you ever start projects that are out of your league? I recall many times where I see some project online and I say, “I can do that” only to have it end in DISASTER. You know what I mean… A “Pinterest Fail”.
Pinterest has so many great projects for everyone to try at home, but when the attempt is complete, the results are often less than stellar. I know I am not alone, as there is an entire website dedicated to this phenomenon: http://pinterestfail.com
The risks of making a bad batch of cookies or a horrible woodworking project at home can make for a funny story, So what if that happens at a business? So many times, organizations feel they can build an expertise for Data Analytics and Insights in-house based on a model or idea they heard about from somewhere else. While some may be successful, others may suffer from a “Pinterest Fail”.
Here are 5 ways to avoid the “Pinterest Fail” in your journey to building a Data Analytics and Insights Team:
1. Plan Accordingly:
When working with desperate data sources, time is something that is usually underestimated. I love the drawings on the whiteboards that have big buckets titled with words like, CRM or Web Analytics. Then there is a big arrow pointing to a box labeled “database”. It looks so easy until you have to execute on the drawing. The data tells a different story. Cleaning up the data (data hygiene) is a big step and scrubbing all those individual lines of data based on a customer service representative using the wrong field can get time-consuming.
2. Hire Well:
Look for people that have done it before (true Pinterest experts, so to speak). I know of a company that has an excellent employee that truly gets what it takes to get an analytics team up and running. They are lucky to have her, but they will struggle to find additional resources. Plan to have a longer search for the right analytics team. These people are hard to find and can also be expensive to hire.
3. Open your piggy bank:
Be prepared for additional soft and hard costs. I have mentioned that the hiring cost will be higher based on the scarcity of experts in the field, but there are additional costs that need to be considered. Software and hardware upgrades may be required to handle the new software that will need to be purchased to sort and understand the data.
4. Get Management Buy-In:
Keep the end result in mind when developing the department or even a data based marketing project. Understand the goal and what the organization will gain as a result. You will most likely need to present a business case to support your initiative. One of the key conversations will be with the IT department. Get their support and estimate costs involved. There is nothing worse than getting started only to have the road blocked due to another team.
5. Obviously, the easiest- hire an external partner:
There are other solutions out there, including data analytics companies (Example: B2E Direct) that can help with all or many of the areas listed above. If you are a small analytics team that needs additional expertise or a marketing team with zero support, find a partner that can help you understand your data and one that has the skills, tools, and experience to help you reach your goals.
Good luck, and don’t be afraid to give your Pinterest dreams a shot! Just be careful if you are trying out the theory at work. To avoid a business “Pinterest Fail” at work, contact us at B2E direct to help reach your data analytic dreams.