The Holy Grail of Marketing Science Candidates
In the area of quantitative marketing sciences it is often the case that clients are looking for one of two things in a candidate:
1) strong statistical modeling and multivariate statistical experience normally using SAS or SPSS
2) a strong understanding or experience of statistical modeling and multivariate statistical techniques but the ability to then understand & interpret the insight derived from the analysis and how that may affect the business or to make strategic recommendations
This is a dilemma. As candidates join this market space at the Analyst/Statistician level, you learn the analytical business of your company from the ground up, you learn to mine the database, clean the data etc. and eventually build statistical models from scratch. Naturally as you progress you may work on higher-level statistical requirements, with different departments and larger datasets, but for the majority you don't get involved in what the direct business impact is of the analysis, making the presentations to clients, delivering strategic recommendations etc. This seems to generate a skills gap as you move up the ladder.
More and more we are working on roles that want a mix; the ability to build or understand models and multivariate analysis AND the ability to present the results to non-technical business people and have an impact on the companies bottom line. Do they want MBA's then we ask? "No" is always the reply, they want the best of both worlds, business statisticians with strong communication who are comfortable with feet in both camps. This is the holy grail of senior marketing science candidates.
I mention this for two reasons, firstly I may be completely wrong and I would love to hear from people in this area who are experiencing differently, likewise if I am right. But also as information to heed with an eye to your career progression. If you are working your way through the ranks as a Statistician and you can emerge in a few years with statistical analysis and modeling experience and have the business/strategy experience also, you will be a very marketable candidate. If you are already there, well, give me a call!!
Mark Tattersall :: Executive Recruiter :: Smith Hanley Associates :: 312-629-2400
2 comments:
This article is right on mark. Not only have I seen this significant gap on the stats side but the same applies to the technical side. The financial industry is in desperate need of individuals that can put together and solve complex problems and at the same time partner with lines of business and decision markers. All too often, very talented employees are skilled in problem solving but fail miserably in selling the results.
Statistician needs to ask yourself. "Do I want to be seen as having a business mind or I'm pretty comfortable in my technical world?" If the answer is no, then learn the business language. Often, it's just about different ways of presenting the same thing.
-Karen
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