CEO and Founder of Lumina Decision Systems
Max Henrion, PhD, is the recipient of the 2018 Frank Ramsey Medal from the INFORMS Decision Analysis Society for distinguished contributions to the theory, practice, and dissemination of decision analysis. Max is CEO and Founder of Lumina Decision Systems, and originator of Analytica. Je has several decades experience as a decision analyst, lead consultant, software designer, scholar, and entrepreneur. He was previously a professor at Carnegie Mellon and Stanford University. He has coauthored three books and over 70 articles on decision analysis, risk management, decision support software, and artificial intelligence. He has a BA from Cambridge University, and PhD in decision analysis from Carnegie Mellon. His “Rigs to Reefs” project won the 2014 Decision Analysis Practice award from the INFORMS Decision Analysis Society, and Society for Decision Professionals.
Track: Analytics Process
Tuesday, April 16, 9:10–10:00am
Why Most Analytics Projects Fail and How To Engage With Your Client For Success
According to Gartner Research, 85% of data analytics projects fail. Their results don’t get used. Analysts often blame “management resistance”. But maybe we shouldn’t blame our clients. Experienced analysts know that the key to success is close engagement with clients — your boss, senior executives, and other decision makers. Most analytics professionals are skilled with numbers and software, but get little training on how to work with clients. Fortunately, you can learn these “soft skills” — often more easily than your hard-won technical skills. I will explain and illustrate keys to successful engagement, how to:
- Discover your real “client” – who actually makes the decisions with what process?
- Ask good questions, listen effectively, and gain clients’ trust.
- Draw influence diagrams to help clients frame and scope their real objectives and decisions.
- Use sensitivity analysis to help clients understand what data and assumptions matter and why.
- Employ agile modeling methods to build decision tools that users find usable and useful.
- Design compelling visualizations to help clients make informed and confident decisions.