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Analytics Professional Pathways

Highlights from my journey in consulting

Enrico Manlapig

Westmont College

2021-08-06

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☝️

REMEMBER!

My situation is unique to me...

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☝️

REMEMBER!

My situation is unique to me...

...and your situation is unique to you!

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What I share with you here probably does not apply to you! Don't do what I did. But find general principles about what helped you

Where you intend may not be where you end up

I wanted to be a musician!

boy crying with 'I'm fine' overlay

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Sometimes you need a little extra motivation

children driving toy car

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(Crazy) Professors can help you expand your vision

doc brown saying 'a vision'

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Ghanshyam Mehta gave great grades and showed me that mathematics is about much more than notation

  • struggle and beauty: "proving this theorem is like climbing a mountain every step is so painful but the view from the top is truly spectacular"

  • knowing something is different to doing something: "what does it mean to solve a problem if you already know that a solution exists? what have you done?"

Rodney Beard

  • i taught the entire statistics class with venn diagrams. they have no idea what's happening.

  • i wrote a paper about optimal lateness

  • crossing a 4-way intersection - you should cross all the way round

  • learn latex

Look for distinctive projects

Combinatorial games...

...under auction play

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Present your work whenever you get the opportunity

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☝️ Know the recruiting calendar

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☝️ Know the recruiting calendar

☝️ Expand and leverage your network

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☝️ Know the recruiting calendar

☝️ Expand and leverage your network

☝️ Research firms in your desired field

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I didn't do any of these things

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These are safer and more reliable paths into a good job

MANAGEMENT CONSULTING

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MANAGEMENT CONSULTING

Management consulting is the business of helping organizations improve their performance by identifying problems and recommending solutions

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Types of management consultants

Strategy

IT

Finance

Marketing

Compliance

HR

Economics

One-stop shop

Boutiques

Partnerships and sole propietaries

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Strategy boutiques The Big 3: McKinsey, BCG, Bain Second Tier: LEK, ATK

IT specialists Accenture, Bearing Point, IBM

Industry specialists Booz, Kurt Salmon, Oliver Wyman

Technical specialists NERA, Strategic Decisions Group, Mercer

The Big 4 Deloitte KPMG Ernst & Young PwC

Typical functions Audit Tax Financial advisory Strategy & Operations Technology

APPLIED DECISION ANALYSIS / CAPITAL EFFICIENCY

Decision analysis

Statistical modeling

Optimization

Real Option Valuation

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This is not a normal sort of team

Analytics for strategic pricing

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Also revenue management - hotels, airlines, pharma Choose prices depending on competitors, weather, time of year, type of traveller

Analytics for operations and supply chain management

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Also systems and processes - government child and family protective services Also network asset companies like pipeline operators

Analytics in finance

Derivatives

Contracts

Portfolio management

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Analytics to understand people

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Especially useful in decision analysis when trying to understand values We use Principle Component Analysis to reduce high dimensional responses into a managable number of dimensions. Or, you can use cluster analysis to identify similar types of customers: early adopters, business users, holiday-makers, children etc.

Analytics for processing unstructured data

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Especially useful in legal work

Dashboards and decision support systems

Wagholikar, Kavishwar & Maclaughlin, Kathy & Kastner, Thomas & Casey, Petra & Henry, Michael & Greenes, Robert & Liu, Hongfang & Chaudhry, Rajeev. (2013). Formative evaluation of the accuracy of a clinical decision support system for cervical cancer screening. Journal of the American Medical Informatics Association : JAMIA. 20. 10.1136/amiajnl-2013-001613.

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Oil and gas and utilities

☝️

Management consulting is the business of helping organizations improve their performance by identifying problems and recommending solutions

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These are skills you can bring to any job!

Remember, too that m situation is unique to me...and your situation is unique to you!

What I share with you here probably does not apply to you! Don't do what I did. But find general principles about what helped you

Problem solving is fun 😁

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Problem solving is fun 😁

🙌 Work is high impact

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Problem solving is fun 😁

🙌 Work is high impact

Exposure is unparalleled 📷

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Competitive 👹

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Competitive 👹

🏨 Travel gets old

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Competitive 👹

🏨 Travel gets old

Firm > Client > You 🙇

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Coming soon!

EB020 Research & Forecasting in San Francisco

EB138 Applied Management Science

EB196 Decision Lab

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