What's the difference between a worker on an aircraft carrier and a submarine?

Our Careers in Data Analytics panel provided the answer to that riddle (more later) and many more insights into the career possibilities and opportunities around the use of data in the business world.

Our panel comprised of UVM alums Jeff Steinhorn ’85, VP, Chief Information Officer for the Johnson & Johnson (J&J) Family of Consumer and Consumer Med-Device Companies, Larry Martin ‘93, Senior VP of Business Development for Gametime United, Inc., Dana Bingham ’09, CFO at New Breed Marketing and UVM Sustainable Entrepreneurship MBA graduate Ben Tacka ’15, InBound Advisor, also at New Breed Marketing.

Information is power, goes the old adage, and in the age of blockchain and big data, the panel demonstrated the power and use of data in todays’ business environment.

Data has become increasingly valuable to any organization, Jeff Steinhorn stated “data analysis allows my company to better connect with our customers which is vital. We can quickly correlate cause and effect around buying behavior which is incredibly powerful.” He continued “the use of sophisticated data analytics benefits us not only in increased sales, but goes beyond to develop platforms and tools that directly benefit consumers and healthcare patients.”

To demonstrate Steinhorn painted a scenario around orthopedics and because J&J make among other things, orthopedic hips and joints, they created a coaching app for individuals around the topic of knee pain, based upon a lot of data.

Machine learning enables the app to get smarter the more user data it includes; consequently, surgeons like it as it helps better prepare individuals for surgery and how to rehab properly, which leads to better outcomes, and hopefully more patients. The hospital and insurance company experience lower costs from shorter stays and recovery times, which ultimately means an enhanced experience for the individual undergoing orthopedic surgery. The same data driven approach can then be taken with other health conditions such as diabetes or obesity for example.

Both Ben and Dana from New Breed Marketing, a business-to-business company, underscored how the ability to manipulate and draw insights from data allows them to look at the health of a business and empowers their clients to fix issues and take control of strategy, “the data doesn’t lie” said Ben.

Larry Martin also demonstrated how data analytics drives dynamic seat and ticket pricing in his business; the analytics allow his company and clients to quickly understand the myriad factors that make up a NBA seat price, and surface the ROI of providing tickets for partners.

The panel also highlighted several career traits necessary in the competitive business world including figuring out what you don’t want to do, internships are key, leverage your networks, be proactive, learn how to sell internally and externally, be relentless, be curious, don’t be entitled and it’s okay to ask for help.

As for the submarine versus aircraft carrier. Dana conveyed the story that on an aircraft carrier you have one job, a job you are well trained to do. In a submarine, everyone learns everyone’s job. Why? If under attack and a submarine dives, all the doors are locked and you do the job of the person in the room you are locked in for the foreseeable future, as opposed to an aircraft carrier where you’d have the ability to move to the place to do your job. In the navy Submariners earn the right to wear fish; their dolphin pin.

While it is an extreme example, that vital flexibility and adaptable behavior is becoming needed more and more in the business world; are you ready to earn your dolphin pin?