AoF 84: How to Transform your Analytics Dept into a Profit Center w/ Derrick Louis

S7 AoF Derrick Louis Artwork2
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Data is a company’s most important asset, so why aren’t more companies turning their analytics departments into profit centers? In today’s episode my guest took this concept to the next level by bringing a dedicated accountant on staff to manage their analytics profit center. When Derrick Louis says he is focused on the bottom line, he means it! Previously the Executive Director of IT at RaceTrac Petroleum, Derrick currently heads up IT at Cumberland Farms/EG America. As a business-driven IT leader, he harnesses the power of technology, people, and innovation to combat rising costs, create nimble organizations, and drive scalable growth.

In today’s conversation, Derrick shares some practical tips and advice that will inspire you to think differently about how you work with your customers, especially when it comes to being financially responsible. We touch on why you should be quantifying how your analytics team work adds to your bottom line, how to know when it’s time to become a profit center, and the value of keeping track of every dollar you save your org by bringing an accountant in, and so much more! For data leaders that are struggling to show their value to their org or aren’t sure where to start on creating a profit center, this episode is for you!

“Having an accountant to say where you are, where your spend is, and what your return on investment is at every level of your [analytics delivery] game is almost a no-brainer once you do it.” [0:08:15]

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This exciting episode of AoF is sponsored by our BI Brainz Academy…  we’re offering a special promotion only to AoF listeners to gain first access to our BI Data Storytelling online course and Accelerator recordings (for the first event). Just use code ‘aof2022’ on check out! Get immediate access now!

3 Knowledge Bombs

In this episode, you'll learn:

“Keep a spreadsheet [to say], ‘Here’s the amount of dollars we have saved the organization,’ whether it’s from efficiency gained, hours saved, whether it’s from negotiation of a contract, whether it’s from consolidation software. All of that is money saved.” [0:44:40]

Links and Resources mentioned in this episode:

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Mico Yuk

Mico Yuk

As the Co-founder and CEO of BI Brainz, I've been in the Business Intelligence/Analytics industry since 2009. Trained 10K+ using our methodologies and frameworks! I love our amazing team and community! I share my passion for data to 20,000+ followers via the Analytics on Fire Podcast, our BI Brainz academy, blog, social media, global keynotes, training, and workshops. Our model is simple. We take what is successful for our customers and teach it! I'm a bonafide beach bum on days off!
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