Phase 5: Results & Key Findings Now that you’ve run the model, you need to go back and compare the outcomes to your criteria for success and failure. Consider how best to articulate the findings and outcome to the various team members and stakeholders. Make sure to consider and include caveats, assumptions, and any limitations of results. Remember that many times the presentation will be circulated within the organization, so be thoughtful of how you position the findings and clearly articulate the outcomes.
Make recommendations for future work or improvements to existing processes, and consider what each of the team members and stakeholders need from you in order to fulfill their responsibilities. For instance, Sponsors have to champion the project, Stakeholders have to understand how the model affects their processes (for instance, if it’s a churn model, marketing has to understand how to use the churn model predictions in planning their interventions), and Production engineers need to operationalize the work that’s been done. In addition, this is the phase where you can underscore the business benefits of the work, and begin making the case to eventually put the logic into a live production environment.
Now that you have run the model, you can do the following:
1) Assess the results of the models.
1. Are the results statistically significant and valid? If so, which aspects of the results stand out? If not, what adjustments do you need to make to refine and iterate on the model to make it valid?
2. Which data points are surprising, and which were in line with your incoming hypotheses that you developed in Phase 1? Comparing the actual results to the ideas you formulated early on typically produces additional ideas and insights that would have been missed if you did not take time to formulate IHs early in the process.
2) What do you observe in the data as a result of the analytics?
1. Of these, what are the 3 most significant findings?
2. What is the business value and significance of these findings? Depending on what emerged as a result of the model, you may need to spend time quantifying the business impact of the results to help you prepare for the presentation. For further reading, see Doug Hubbard’s book: “How to Measure Anything”, which provides an excellent resource for teaching people how to assess “intangibles” in business, and quantify the value of seemingly un-measurable things.
As a result of this phase, you will have documented the key findings and major insights as a result of the analysis. The deliverable as a result of this phase will be the most visible portion of the process to the outside stakeholders and sponsors, so take care to clearly articulate the results, methodology, and business value of your findings.