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99 Skills of 21st Century Market Place : Week 5

We at #JOI are excited to continue our series on 99 essential skills for success in the marketplace. In Week 5, we focus on another three crucial skills that can help professionals stand out in their field: Data Mining, Public Speaking, and Time Management. These skills may seem unrelated, but they all play a vital role in achieving success in today's fast-paced business world. Whether you're analysing complex data sets, delivering persuasive presentations or delivering keynote speech, or juggling multiple tasks and deadlines, these skills make a big difference. In this post, we'll delve into each of these skills, discussing their significance and sharing strategies for honing them to reach your full potential.

13. Data Mining

A Quote :

“The purpose of mining data is to deduce insights and solve real world business problems.” Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth

An Example :

A large retail chain was experiencing a significant loss of inventory, and they suspected that theft was taking place in one of their stores. However, they were unable to identify the culprit or the specific items that were being stolen. The retailer decided to use data mining techniques to analyse the point-of-sale (POS) transactions from the store in question. They looked for patterns in the data, such as a high volume of returns or transactions made outside of normal business hours.

After analyzing the data, they found that a particular employee was consistently processing a large number of returns for high-value items, such as electronics and jewellery. Upon further investigation, it was discovered that the employee was creating fake receipts and returning the items for cash refunds. They were able to steal a significant amount of inventory before the scheme was uncovered. They were also able to recover a portion of the stolen inventory and hold the employee accountable for their actions. This example demonstrates the power of data mining to uncover patterns and anomalies in large data sets, allowing organizations to identify and address potential risks or issues before they escalate.

A Definition : Data mining is the process of analyzing large amounts of data from different perspectives and discovering previously unknown patterns and relationships. It involves using statistical and mathematical techniques to sift through vast amounts of data, such as customer behaviour, sales figures, and market trends, to identify patterns and relationships that can be used to make better business decisions. Data mining is often used in marketing, finance, healthcare, and other industries to identify trends and make predictions.

A Checklist :

  1. Understand the basic concepts and terminologies of Data Mining.

  2. Learn different techniques for data preparation, cleaning, and pre-processing.

  3. Familiarize yourself with data visualization and exploratory data analysis techniques.

  4. Learn various data mining algorithms like decision trees, clustering, association rules, etc.

  5. Practice applying these techniques to real-world datasets.

  6. Continuously evaluate and improve your results.

14. Public Speaking

A Quote :

“If I went back to college again, I’d concentrate on two areas: learning to write and to speak before an audience. Nothing in life is more important than the ability to communicate effectively.” – Gerald R. Ford

An Example :

A well-known author was invited to give a keynote speech at a literary festival. The audience was made up of fellow writers, publishers, and avid readers who were eager to hear the author's insights on the craft of writing. The author began their speech with a personal story that related to the festival's theme, which immediately grabbed the audience's attention. They then went on to share their own journey as a writer, including the challenges they faced and the lessons they learned along the way.

Throughout the speech, the author used humour, emotion, and vivid imagery to engage the audience and make their points more memorable. They also incorporated anecdotes and examples from their own work, which helped to illustrate their ideas and make them more relatable.

At the end of the speech, the author received a standing ovation from the audience. Many attendees came up to them afterward to express their appreciation for the inspiring and insightful talk. This example demonstrates the power of effective public speaking to engage and connect with an audience, convey ideas and messages in a compelling way, and leave a lasting impression.

A Definition : Public speaking is the act of delivering a speech or presentation to an audience, typically in a formal setting. It involves conveying a message or idea to an audience using verbal and nonverbal communication techniques, such as tone of voice, body language, and visual aids. Public speaking can take many forms, including lectures, debates, presentations, and keynote speeches. Effective public speaking requires preparation, confidence, and the ability to connect with the audience.

A Checklist :

  1. Prepare and organize your speech well in advance.

  2. Understand your audience and tailor your message to them.

  3. Use storytelling techniques to make your speech engaging and memorable.

  4. Use effective body language, eye contact, and vocal variety to keep your audience engaged.

  5. Practice your speech in front of a mirror or with friends and family to get feedback.

  6. Manage stage fright and nervousness through breathing exercises or visualization techniques.

15. Time Management

A Quote :

"Time management is really a misnomer - the challenge is not to manage time, but to manage ourselves." - Stephen Covey

An Example :

A busy executive was struggling to balance their work and personal life, often finding themselves overwhelmed and stressed by the demands of their job. They decided to try a time management technique called "block scheduling" to help them better organize their day. Block scheduling involves dividing the day into specific time blocks and assigning tasks or activities to each block. For example, the executive might schedule two hours in the morning for checking email and responding to messages, followed by a three-hour block for meetings and calls, and then a two-hour block for focused work on a specific project.

By using this technique, the executive was able to prioritize their tasks more effectively and allocate their time in a way that allowed them to be more productive and efficient. They also found that having a structured schedule helped them stay focused and avoid distractions. Over time, the executive was able to refine their block schedule to better suit their needs and preferences. They also began delegating more tasks to their team members, freeing up more time for the most important and high-impact activities.

A Definition : Time management is the practice of using your time effectively and efficiently to accomplish your goals and tasks. It involves setting priorities, creating schedules, and managing distractions to make the most of your time. Effective time management can help you increase productivity, reduce stress, and achieve a better work-life balance. Time management techniques include setting goals, prioritizing tasks, using calendars and to-do lists, and minimizing distractions.

A Checklist :

  1. Set clear and specific goals for your work.

  2. Prioritize tasks based on importance and urgency.

  3. Create a schedule that maximizes your productivity and efficiency.

  4. Avoid multitasking and focus on one task at a time.

  5. Use tools like calendars, to-do lists, and reminders to stay organized and on track.

  6. Regularly evaluate and adjust your time management strategies to improve their effectiveness

Come & Collaborate

This series will truly come alive as you share your thoughts, experiences, and insights with us. The responses will help shape the content of this work and make it meet the needs and interests of us as a collective learning community. I look forward to a win-win voyage for all of us, as we navigate the exciting world of career development together.

Meanwhile do connect with us to have an intentional voyage plan to navigate your journey to significance. Book a DISCovery Session at https://go.johnsonodakkal.com/DISCover

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