Book review: LEADING WITHIN DIGITAL WORLDS
Strategic Management for Data Science
Genres:
- Information management
- Business management
Review posted on:
20.03.2023
The number of pages:
129 pages
Book rating:
3/5
Year the book was published:
First edition published 2020
Who should read this book:
- People working in IT or the data science field, and are looking for best practices for situations they might incur in any part of their projects.
Why did I pick up this book and what did I expect to get out of it:
Since I work with data I’m always looking for tips that might ease or prevent me from making any mistakes that others already made and learn from them. I have to admit that I made my share of mistakes on projects that I worked on, be it leading or executing them. But I always did an overview of what, and why something happened and how to improve similar situations next time. And from reading the back cover where it states that the book explores key issues in the data science fields, including digital and data-driven transformations, open innovation networking, providing enabling frameworks, and leading a strategy team I decided to pick it up looking to get some insights how my actions and my “findings” compare to what the author has to share. Also, I don’t mind any “help” or guidance in dealing with situations in my future data projects.
I expect to learn more about the process of creating a story, developing the “story arc”, and what I should include and what not in the story. What I’m looking for the most is “the order of steps” in the process of writing the story, because sometimes I get stuck at a certain point and don’t know how to develop the story so that I don’t lose “my audience” or even worse to “overshadow” the message of the story.
My thoughts about the book:
You won’t find any models or formulas or programming language in the book, instead, you will find guidelines and examples from the author’s personal experiences dealing with some of the most important issues someone working in the data field can face, be it leading or executing. The book is short and concise and in my opinion, if you are working with data or just starting out you should definitely pick it up. Since the book is more focused on the mindset than on coding a good book also to read is Becoming a data head.
The language and style of writing are smooth, and you could probably read this book in one sitting. Anyone who is already working with data in a team can probably find himself in at least one chapter dealing with a similar situation. At least that was my case, some chapters were like “I wish I knew that sooner”, but there was a chapter or two that I had to “power through” as it didn’t relate to much with the content.
If you pick up this book please let me know what you think of it in the comment section.
A short summary of the book:
The author starts by pointing out that some paradigm changes are self-discovered and others are forced from the “outside” and he further explains this statement with some examples like Pepsi/Coke/SunnyD, the airline industry, loyalty cards in supermarkets, or the internet and how it affected retail. He also touches on the topic of how R&D is different in universities and in companies and how these two different “worlds” interact. Then he continues with the traits of leadership where he emphasizes the importance of developing empathetic relationships with your team, being honest and trustworthy, and other traits and actions that will help you lead and grow your team. One interesting point he makes here is to have a team member who is a “back channel” to your team. Often times this is a person that others don’t feel is a threat to their own ambitions. Another interesting point was to encourage the use of distinctive vocabulary and terms to describe team members and their ideas. By doing so your team is creating its identity or “brand”.
When the author talked about behavior, rationality, and decision-making he leaned on the work of Daniel Kahneman Thinking, Fast and Slow and he strongly recommended picking up his book. He summed up heuristics and biases that you can read more in-depth in Kahneman’s book, and then he continues with the need to provide enabling frameworks in order to encourage people to improve themselves. He continues by emphasizing the need for people working in the data field to accept the “code of conduct” as they may find themselves dealing with personal data or creating models that can affect people’s lives. One important trait when working with data is also presenting the data and how the development of successful presentation skills is a never-ending journey, not just a destination.
In his third chapter, he goes on about the importance of protecting intellectual property when creating models and algorithms and how that is an uphill battle if not impossible. Also, an excellent point he makes in this chapter is that you should never confuse activity with progress, and how to cover your basics when doing an interview with your clients, prospects, or your outsourced partners. For example when I worked in IT and when we were pitching projects and when most was already agreed upon we never discussed the possibility of key stakeholders walking away from a project or even either company. When reading this, and thinking back it would have been smart for both parties to make sure to know the succession of each key stakeholder if it would happen that any should leave. I’m definitely taking this advice for future projects. The author then continues by talking about loyalty and for whom employees (who work with clients) mostly work for? Is it the company that employs them? In many cases actually no, but for themselves. They work for their reputation which will afford them better employment in the future. What can you do about that, if anything? Also when leading a team remember that the blame game doesn’t do anyone any good, it only weakens the team. And one more thing is weakening your team, and that is underperformers. The author makes a good point on how keeping people on your team when they underperform even though you put into place frameworks for team members to improve starts to erode the trust and engagement of other team members that do perform. So it is best to do regular overviews of your team and let go of people who are holding the team back.
In the last chapter, the author goes over the hype and the adoption curve that new technology can bring and how that affects the usage of this new or previous technology. As an example, he provides blockchain technology and AI. In the end, the author gives us his perspective on what the future hold for data science and from where new data scientists and analysts will come and what will their mission be.
My notes from the book:
- By deploying customer-centered questions the aim is to focus on making the desired change from the customers' own perspectives and asking how digital assets might be deployed around teh customers' own agendas, rather than on the internal efficiencies and features. Digital transformations that do not do this are really just IT upgrades.
- To ensure that everyone can contribute ideas you must create and maintain a flat structure with an open participative culture.
- When new people join the team don't just let them pick up work that is following from the existing members of the team. Instead, make sure they have some topic or challenge to work on that is new for the whole team. Then they quickly become the team's resident expert in that field of activity. This helps them get on par with others.
- In every type of engagement, team members must plan, brief, act, and debrief. The debrief is really the most essential part, and we should take all of the learning from every experience.
- If you provide a template framework enabling basic activity, then you will give your team members confidence, and yet you leave some room for their own personal input. This included establishing common practices and common vocabulary so that everyone can work together and recognize and understand what each other is doing and why.
- When meeting prospects have a checklist if they qualify to invest more of your time in them or not. That is if the deal is not yet agreed upon.
- Companies should build multi-handed, multilevel, contacts with prospective partners and client organizations. These build some robustness and an ability for both sides to requalify at any time and manage any risk. For example, the prospects/clients' IT team says they can do something you pitched to them on their own. But when you talk to their executive you learn that is not the case and the executive gives you the green light.
- All proprietary models/algorithms developed should have "log-books" which are passed on to downstream users.
- Data scientists need to be trained to present to nontechnical audiences as in most cases their default is to overload with details.
- A leader needs to create a framework that values progress and not activity. Too many times team members measure the time spent and not the results delivered.
- When a meeting starts ask each person attending what they aim to get out of this meeting and make a list of questions and expectations from around the table. At the end of the meeting go down the list and address anything not already covered.
- When doing interviews an important subject must be resolved. Did the interview subject (team or person) disclosed everything of importance or have they withold issues where it is their issue to do so. Simply ask "is there anything else you could tell me now, which I may find out about later from elsewhere?"
- One should avoid being too reliant on any single individual who may have exclusive access to certain components of your development projects. This is a good reason for people to work in pairs in an open way. By doing so you protect your institution from overreliance and thus risk.
- Leaders need to consider whether members of their team are still improving and growing. To be standing still places a cap on performance and possibilities. Leaders also need to make space for others to flourish.
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Elements of a charismatic leader:
1. Developing empathetic relationships with the people you lead, asking how they feel about ideas, strategies, and tasks, and sometimes allowing their ideas to be heard so that you are listening, and prepared to learn.
2. Being honest and trustworthy. Always tell it like it is, both in private and in public, without blame, and yet praising others' achievements.
3. Developing the ability to make everyone in the room feel comfortable, perhaps using humor, and making time together enjoyable, while being productive.
4. Exhibiting your own confidence, yet possessing some humility. Don't seek to be the smartest person in the room.
5. Getting your hands dirty and leading by example. Exhibiting your own deep commitment to goals. -
Great question for customer-centric activities:
1. How many different behavioral types of customers do you have? How is this changing?
2. Do your customers exhibit distinct modes over time? How should you grow on inhibiting these?
3. How volatile are your customers? What is your exposure to competition?
4. What do your customers desire, require, or need that you are not giving them?
5. How do you create unintended barriers for their desired behavior?
6. How loyal are your customers?
7. What behavior triggers or indicates an increase in the share of their wallet that you can gain?
8. Which customers will be early adopters of any innovations?
9. Where do your best type of customers come from? Do you grow them or must you acquire them? How?
10. What are your present or future advantages?