In today’s turbocharged digitized world, there seems to be an “application” (“app”) for almost everything. The intent of the app software is to help the user perform singular or multiple related specific tasks on a repetitive basis. In the field of analytics and decision analysis, the apps analogy can be made when we think about the entire list of “hard and soft” skills that are used when we are working to bring discipline and analytical rigor to business decision-making.
“Hard skill” apps can be classified as the left-brain technical skills and include analytical processes, procedures and techniques that are used to perform all forms of descriptive, prescriptive and predictive analytics. The “soft skill” apps can be classified as the right-brain interpersonal/personal skills that cover a large continuum of proficiencies such as communication skills, conflict resolution and negotiation, creative problem-solving, strategic thinking, team building, influencing skills and selling skills.
Like apps in the digital world, hard and soft skills are being used by practitioners in a myriad of combinations to satisfy the growing demand for analytical decision-making in a wide continuum of business situations. The success of today’s decision analysts and analytical practitioners depends on the types of hard and soft skill apps in their toolboxes along with their abilities to creatively apply their apps to satisfy the needs of their customers.
Focusing on the acquisition of hard skills is easy since formal education and new analysis tools and training are readily available and are more tangible and easier to learn than soft skills (e.g., learning how to use a new simulation software package vs. learning how to be a better communicator). However, it is no longer sufficient to just bring a toolbox dominated by technical hard skills since they are becoming commonplace in today’s business word. People are becoming more comfortable manipulating and analyzing information due to the pervasive use of spreadsheets and the availability of data. Microsoft gauges the number of Excel users worldwide at more than 400 million [1], and business data is being mined at an exponential rate and disseminated to managers who want to tap into that data and gain insights to make better decisions [2].
The second problem with this perspective is that the expectations of customers for analytic and decision analysis activities are changing. Customers are no longer looking for someone to simply do the number-crunching analysis. They are also looking for people who have the skills to effectively identify and frame a business opportunity or problem, manage a team to develop and analyze potential solutions, communicate insights and recommendations all while collaborating with the various stakeholders needed to make and implement the decisions associated with the business situation. The bottom line is customers are looking for a strong set of soft skills in addition to technical hard skills.
Against the backdrop that the challenges faced by today’s government agencies and private businesses in Nigeria are many and varied, experts have called on public and private sectors’ managers to adopt operations research as an efficient way of tackling these problems.
According to Akingbade Funsho, president and chairman of council of Institute For Operations Research of Nigeria (INFORN) and former dean of Business and Social Sciences, University of Lagos (UNILAG), operations research is a discipline that can be applied in virtually every area of business and government such as in health care, manufacturing, finance, city planning, judiciary, defence, entertainment, among others.
(via INFORMS)
This looks interesting.
The MBA Gym provides free, interactive online training sessions on key concepts taught on the Masters in Business Administration programme at business schools. It consists of a series of workouts, each lasting for approximately 15 minutes. Each workout focuses on a particular discipline such as Strategy or Finance and has been designed to give a brief and engaging introduction to the subject.
(via anthonychan)
