One primary fact every data analyst or data scientist needs to consider before the commencement of a successful data-driven project is the ‘WHO?’ factor.
Why?
It’s simple… and the fact is that you cannot force your insights on business needs. The business needs come first, then your insights next to strategically solve the problem. Right?
Read this by Ash Maurya…
The only time you can confidently say that you have accomplished any feat in any data science or analytics project is when insights adds value and improves overall business performance.
Most times, data analyst and scientist focus too much on data exploration and model development resulting in outcomes no one wants and with little or no value addition to the business- leading to high abandon rates of these models in the short-term. Right?
It is therefore important to consider the ‘Who’- stakeholder- or those affected directly or indirectly by the project outcome.
Of the 5 W’s used in obtaining reliable information to a business problem or a business opportunity, the ‘Who’ is the most critical to the long-term success of any data-driven project. The importance of the ‘Who’ goes beyond its definition as being the ‘Stakeholder’ but critical to the outcome of other ‘W’s in business problem framing .
What are the 5 W’s?
They are ‘Who? What? Where? When? Why?’
A simple definition of the 5W’s are;
Who are the stakeholders who satisfy one or more of the following with respect to the project: funding, using, creating, or affected by the project’s outcome. The stakeholders are anyone affected by the project, not just those in the initial meetings, and they may have different levels of input or involvement during the project.
What problem/function is the project meant to solve/perform?
Where does the problem occur? Or where does the function need to be performed? Are the physical and spatial characteristics articulated?
When does the problem occur, or function need to be performed? When does the project need to be completed?
Why does the problem occur, or function need to occur?
“It is amazing what you can accomplish if you do not care who gets the credit”.
Harry S. Truman
You will agree with me that the success rate of a project built on collaboration with the ‘Who’-stakeholders- will positively increase the business dependence on data outcomes, provide targeted solutions and increase business value. Right?
What will a stakeholder analysis help you identify?
CAP-INFORMS identifies six (6) and they include;
1. The interests of all stakeholders, who may affect or be affected by the project, along with their constraints.
2. Potential issues that could disrupt the project.
3. Key people for information distribution during execution phase.
4. Groups that should be encouraged to participate in different stages of the project.
5. Communication planning and stakeholder management strategies during the project planning phase.
6. Ways to reduce potential negative impacts and manage negative stakeholders
To this end, I am sure you will agree with me that collaborating more with our Stakeholders to achieving limitless value for the business is the way to go.
EverythingonData 