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Guidance and results for the data-rich, yet information-poor.

How to Get Executive Buy-In for Data Mining Projects

CompanyPresentationHere’s a question that came up during the March session of Data Mining: Failure to Launch. It came from a passionate but low-ranking employee who wanted to know how he could help his company use data mining and predictive analytics to transform the institution.

There are actually a couple of ways to get this done, but you should always start by identifying problems that need solving. In general, executive-level employees are always grappling with the same basic problems such as how to increase sales or how to decrease costs. If you can target of those key areas you’re already in good shape.

You don’t have to solve every cost and sales problem in the organization, either. Perhaps you can figure out how to make your company’s direct ¬†mail campaign perform 1% or 2% better. That could bring in a lot more revenue and lay the groundwork for selling your executive team on the merits of committing more resources to solving even more problems with data mining and predictive analytics.

Now that you’ve successfully defined a problem you’ve got some options for obtaining executive buy-in.

One option is to prepare an executive-level presentation that will help demonstrate the benefits of the data mining approach and what it can do. Another option would be to volunteer to do the project on your own time. This can pay big dividends as you might just manage to create a brand new job for yourself!

Another option is to just do it, and to show off the results once you’ve generated the actionable insights that your company’s executives will truly care about. This is especially feasible because you probably won’t need any fancy equipment or software to get this done. 80% of most data mining projects typically happen in Excel. You won’t need a lot of resources to make very high-impact discoveries.

Executives may not want to spend a lot of time on theory, but they’re always happy to talk results. Having results in-hand is probably the absolute best way to help them see the possibilities.

Of course, before you can do any of this you need to be sure that you can design projects that work. Get the background you need by attending TMA’s free webinar or signing up for any of TMA’s in-depth training courses. Together, these classes will teach you everything that you need to know to be the source of your company’s next big positive change.

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