Episode 7: Nailing the real business issue

Einstein said that if he had an hour to solve a problem, he would spend fifty-five minutes thinking about the underlying problem and five minutes thinking about the solution to it so in this episode we consider how Insight teams can act like consultants to nail the underlying business issue, and in a subsequent episode we’ll look at how we should investigate it.

Topics Discussed

• How can we generate better insights? (2.10)
• Reflecting on the context for the question being asked (3.59)
• Engaging business decision-makers (4.28)
• Diagnosing like a doctor or a management consultant (5.15)
• Adopting the SCQAB model at Barclays (9.12)

Highlights

• “It should be perfectly possible for intelligent people to draw commercially useful conclusions and recommendations from data and observations without the need for magic spells.”
• “Most Insight projects fail because they start in the wrong place.”
• “We cannot generate insights in a vacuum, we need to speak to business decision-makers. The stakeholder who asked us for the new research might have a clever plan for how they are going to use the new data to help them to solve a problem. Or they might be passing along a request from their boss, which has probably gone to other departments as well, sowing the seed for contradictory data and a confused strategy. I’ll let you decide which is more likely in your company!”

This is episode 7 of the Transforming Insight podcast.

If you have the ambition to transform your Insight team and the role it plays in your organisation, please tune in to future episodes. Not only will we explore the 42 secrets of successful corporate Insight teams as outlined in the Transforming Insight book, we will also talk to senior corporate Insight leaders, delve into books that have inspired us, and discuss new best practice research carried out with the IMA’s corporate members.

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About James Wycherley, the author of Transforming Insight

James Wycherley was Director of Customer Insight and Analytics at Barclays from 2005 to 2015 when he became Chief Executive of the Insight Management Academy (IMA). A popular keynote speaker and acknowledged expert on Insight leadership, strategy, and communication, he is the author of the book Transforming Insight: the 42 secrets of successful corporate Insight teams, and over 35 IMA publications. He has provided thought leadership in the UK, Western Europe, the USA, Canada, Australia, India, and the Middle East. Over the last five years, over 20,000 Insight professionals worldwide have received his 5 Minute Insight emails.

Resources:

If you would like more information on any of the ideas discussed in this episode of the Transforming Insight podcast, please visit www.insight-management.org

Copies of James Wycherley’s book Transforming Insight: the 42 secrets of successful corporate Insight teams can be purchased direct from www.transforming-insight.com

Disclaimer

The Transforming Insight podcast is published by the Insight Management Academy and produced by Zorbiant.

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