Big data analytics: the three biggest challenges

Shop Direct financial services CEO Neil Chandler gives his view on the three biggest challenges in analytics

With almost every organisation trying to make the most out of the data they have at their disposal, analytics is a vital part of their strategies. But organisations can run into trouble with analytics. Here are the three main challenges that organisations could come across, according to Neil Chandler, who is CEO of financial services at Shop Direct, which owns Very.co.uk and Littlewoods.

Chandler has responsibility for IT and change at the organisation, and group CIO Andy Wolfe reports to him.

1. Data science skills

"Firstly, you get to a point where you ask ‘do I have enough people with the data science skill set?' and that's true for the entire industry, these people are now like hen's teeth; it's the next shortage of talent," says Chandler.

One of the ways to fill that gap, according to Chandler, is to work with technology partners, as Shop Direct is doing with SAS.

Find out more about the data scientist role check out Computing's in-depth research.

2. Managing models

Chandler explains that one of the biggest issues is having too many different data models and use cases.

"I'm trying to make it easier for the customer, but how do I bring all of those things together and manage it all and make sure they're all working. That's going to be pretty tough if you build them all yourself in your own coding environment. You need some governance and structure in a way of managing the models," he says.

"SAS have this product called model manager which is going to be helpful for being able to manage the process of modern development in a consistent way," he adds.

3. Relevance

Chandler believes that while a lot of organisations work on data and analytics, they miss what is really important, which is taking the insight they get from the data and analytics and using it to improve customer experience.

"You have to apply it in a way that doesn't interrupt the journey, but we spend a lot of time thinking about the journey and we don't always get it right. But we A/B test the hell out of it - and customers tell us how it works or doesn't work," he states.

Want to know more? Read "How Shop Direct is using analytics to transform itself into a digital leader".