Data analysis is the process of uncovering hidden patterns and valuable insights from large and complex data sets. Surrounded by data, with the volume of that data often a challenge, how can businesses make sense of it all? That's where data analysts come in. From small businesses to Fortune 500 companies, data analysis is essential to organizations.
Previously you learned that the role of a data analyst is to make sense of the data that organizations collect, turning it into insights that inform decisions. Early in the data analysis process, data analysts need to engage with stakeholders to understand the goal of the analysis and the data that is relevant to that goal. In this exercise, you'll use a high-level skill called stakeholder analysis to identify key business stakeholders through a case study. By the end of this exercise, you will be able to identify the key stakeholders and understand their perspectives to better guide your data analysis.
Case study
Company
Adventure Works is in the sports goods business. It is a large, multinational manufacturing company that produces and distributes bicycles and accessories to global markets. The company has established itself as a trusted brand. However, with the entry of new competitors, their market share has been threatened.
Scenario
The company has decided to take a new approach to maintain its position in the market. As a result, Renee, the marketing director at Adventure Works, has asked you to conduct a sales data analysis project. Renee is responsible for creating and implementing marketing campaigns.
The goal of the project is to use the insights gained from the analysis of sales data to drive new marketing campaigns and improve the company's market share. The project aims to identify customer preferences, buying patterns, and trends, which will be used to create targeted marketing campaigns that will appeal to the company's existing customer base, and attract new customers.
To achieve this, you need to identify the key people in the business who can provide valuable insights into the company's current sales and marketing strategies. You must interview company managers with different responsibilities and roles to gain a comprehensive understanding of the company's sales and marketing operations.
Employees
These are the executives available that you can consider for an interview:
Ricci is the customer service manager. She is responsible for ensuring that customers are satisfied with the company's products and services.
Igor is the finance manager. He oversees the company's financial operations.
Jane is the IT manager. She manages the company's information technology department.
Renee is the marketing director. She develops and executes marketing strategies that advertise and publicize the business's goods and services.
Sam is the research and development manager. Sam manages the company's research and development department.
Alex is the security operations manager. She manages the company's operations, including security and maintenance.
Nia is the legal counsel. She manages the company's legal affairs.
Kane is the sales manager. He oversees the sales team and ensures that they meet their sales targets.
Hassan is the human resources manager. He manages the company's staffing and employment resources.
Instructions
Create a new Word document called The role of the data analyst in identifying stakeholders. Follow the steps below to complete the exercise.
Step 1: Understand the context
Read the case study carefully to understand the business context and the goals of the data analysis project. Take some notes to familiarize yourself with the personas mentioned in the case study, including their roles and responsibilities.
Step 2: Identify the key stakeholders
Identify and list the key stakeholders you think you should interview and the reason you selected them. Classify the stakeholders chosen by the level of influence and interest each might have in the sales data analysis project. Your list should be laid out as follows:
The name of the key stakeholder and their role (for example: Ricci, customer service manager).
Their level of influence (High, Medium, Low).
The level of interest they have in the project (High, Medium, Low).
The reason, or reasons, that you selected them.
Tip: For the last item above, be sure to write a few sentences about each selected stakeholder’s level of influence, and level of interest, and explain your reason for selecting them.
Step 3: Prepare interview questions
Based on the stakeholders selected, write a list of 3 questions you will ask each individual. The questions should steer the data analysis toward achieving the project goals. This question list should include:
Name of key stakeholder.
Three questions to ask the stakeholder.
For example, the questions to ask can be something like:
Stakeholder name | Nia |
|---|---|
Sample question 1 | Can you provide any examples of successful targeted marketing campaigns? |
Sample question 2 | How do you determine a marketing campaign's return on investment (ROI)? |
Sample question 3 | What metrics do you use to measure ROI? |