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Steve Hulmes

How do we know if we are a great analyst?

Updated: Jul 24




Some analysts might find this surprising, but being great isn't just about how technically skilled you are, nor is it something you can judge on your own. Self-assessing our technical abilities (a common way some analysts measure their 'greatness') won't truly show how much we're contributing to the organisation.


Traditional Personal Development Plans (PDPs) often stick to SMART targets, which is great because it means our goals and tasks can be easily measured. However, while these plans can effectively track an analyst's progress and achievements, they often don't fully capture our overall value to the organisation.


So how are we measured when it comes to the key question of whether we are good or great analysts?


The answer is, in most cases, by people’s perceptions, especially our stakeholders.


As analysts, producing reports and analyses is just a means to an end. Our real role is to help stakeholders achieve their goals—that's the ultimate aim. This is true for most support departments in organisations: our main job is to assist those who make decisions. While this isn't often measured objectively, it is reflected in people's subjective perceptions of how we engage with them, both individually and as a team.


More often than not our contribution to the organisation is measured through people’s perceptions rather than monetary value.


It's frustrating that even though we work with hard data, our contributions aren't measured objectively. I've seen many instances where the expected financial benefits from an analysis didn't materialise simply because the analyst didn't effectively communicate or translate their findings for the stakeholder. This can lead to a lack of confidence in the work and a failure to understand how it can be applied. No matter how technically sound the work is, if stakeholders don't use the analysis in their decision-making—whether because they didn't understand it or it was poorly communicated—then its value is essentially zero.


In one example from my own career, a whole department of highly skilled statisticians was disbanded due to their inability to effectively engage with the rest of the business which resulted in very little of their (undoubtedly) hard work being implemented. This is an important lesson:-


The value of any piece of analysis is derived from its application and not its creation.


So, we have to have some mechanism to be able to understand whether we are having a positive impact on our stakeholders - a method that will enable us to develop a picture of their perceptions.


Receiving unprompted positive feedback is a great sign that you're on the right track. However, it's crucial to actively seek out this feedback instead of waiting for it. Some people may choose to walk away rather than give what they perceive as negative feedback, so reaching out can help you gain valuable insights and improve your work.


Some organisations  employ ‘360 degree’ appraisals in order to glean this information. These are (ideally) anonymous surveys where the appraisee provides a list of stakeholders, peers and, if appropriate, direct reports to complete a questionnaire. The questionnaire is designed to elicit the kind of constructive feedback that’s needed to gain an understanding of their impact on others. 


Earning the accolade of being a great analyst is not achieved through tick boxes and climbing through levels like a video game, it is bestowed upon you by others. Only by getting feedback can we more accurately gauge people’s perceptions of our real value to the organisation.


If you are interested in our forthcoming free Feedback Challenge, designed to embed these practices whether for you or your team then email me at steve@sophic.co.uk and I’ll provide you with the information and templates when the challenge goes live in the next few weeks.


However, if you would like to get a handle on your stakeholder’s perceptions and implement your own best practices to obtain constructive feedback you can access some effective strategies now by subscribing to my Newsletter on LinkedIn ‘The Analyst: Insightful Bytes’ and reading edition 3. Just follow the link - Subscribe on LinkedIn 



Steve Hulmes - Analyst Coach, Sophic


To find out more about how Sophic can help with these issues with our ‘Working Consultatively’ workshop and to view Sophic’s full programme please click here.


However, if you’d like to discuss a more bespoke solution to your analysts’ development needs, let's have a no obligation chat to see whether Sophic can help. Just email Steve at steve@sophic.co.uk

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