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Last Updated on February 20, 2019

What Are Analytical Skills and How to Strengthen Them For Success

What Are Analytical Skills and How to Strengthen Them For Success

Everybody makes bad decisions. Some people, however, are more capable of making better decisions that inch them closer to success. These individuals are not ruled by emotions, desires, or hunches. Rather, they depend on their analytical skills to overcome challenges regardless of urgency or complexity.

What Are Analytical Skills?

According to Richards J. Heuer Jr., former veteran of the CIA, “thinking analytically is a skill like carpentry or driving a car. It can be taught, it can be learned, and it can improve with practice. But unlike other skills, it is not learned by sitting in a classroom and being told how to do it. Analysts learn by doing.”[1]

Analytical skill can be considered as one of the critical life skills that are not taught in schools.[2] It comprises of visualization, critical thinking, and abilities for gathering and processing information. Here’s a closer look at some of these abilities:

• Visualization – Also tied to a person’s creativity, visualization is the ability to predict the possible outcomes of strategies and actions. On a professional setting, visualization involves the analysis of data – often through illustrations like charts, graphs, and detailed lists.

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• Critical Thinking – Simply put, a person’s ability to think critically can be measured by his or her consistency in creating reasonable decisions. It pertains to the ability to evaluate information, siphon what’s useful, and draw conclusions without being swayed by emotions. As a critical thinker, you’ll find yourself challenging assertions and finding loopholes in proposed solutions.

• Computing – Whether you like it or not, you need to be comfortable with numbers if you want to sharpen your analytical skills. Bear in mind that computing encompasses other skills like cost analysis, budgeting, and performing general calculations. In business, you need to use computations when weighing the risks and benefits of any given strategy.

• Problem-Solving – Remember that analytical skills are used not just to understand problems, but also to develop the most suitable course or courses of action. This relates to your goal-setting skills, which involve breaking down and prioritizing between objectives.

• Resource Management – Lastly, analytical skills involve some degree of resource management depending on the task at hand. For example, professionals with a tight schedule is must know how to effectively manage their own time – also known as one of the most important resources in the world. Business leaders, on the other hand, must know how manage company resources, including cash and manpower.

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Take note that the definition of analytical skills may change to match the requirements of a specific situation. For example, upon hiring a web developer, analytical skills may refer to the ability to determine the needs of online users, understand web analytics for optimization, and identify visual elements that can match a company’s brand. The skill set above, however, should be applicable in most if not all scenarios.

Develop Your Analytical Skills for More Growth Opportunities

There’s no question that the right decisions lead to positive results. It doesn’t matter if you’re running a business or simply trying to climb the corporate ladder. By training your analytical skills, you position yourself for more growth opportunities while staying away from negligible actions you will regret.

For example, you plan to launch a new startup in your local community – but struggle to decide the niche you want to enter. Since you’ve been a technophile your whole life, part of you desires to invest in a gadget store. If you’re passionate about your business, success will come – right?

If you have sharp analytical skills, you begin to see your plans in whole new dimensions. What are the possible outcomes of this venture? Does the local market have a need for a new gadget store? How much do I need to get started – and how much should I sell to make a profit? Depending on your findings, you can determine the feasibility of your business idea without letting your emotions get in the way.

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6 Ways to Strengthen Your Analytical Skills

There are several approaches when it comes to developing an individual’s analytical skills. For instance, psychologists agree that reading fantasy stories as a child can help sharpen critical thinking.[3] Research also suggests that undergoing traditional education has a positive effect on a person’s IQ and analytical skills.[4]

But as an adult, such opportunities to hone your analytical skills no longer apply. That’s why you need to devise a more deliberate, active approach yourself. Below are a few strategies to get you started:

1. Ideate Business Ideas – Developing a profitable business idea, whether you pursue them or not, involves numerous challenges. You need a ton of research, computations, and problem-solving to create a tangible business plan. You can organize your ideas with a note-taking tool like Microsoft OneNote or Evernote. Doing so will allow you to delve deeper into your analysis, organize your findings, and stay focused on roadblocks as well as how to solve them.

2. Leverage Analytical Tools – Aside from note-taking tools, you can also leverage other software that can help with analytical tasks. A money management app like Mint, for example, makes it easy to track your spending habits as well as manage your budget with visual tools. When it comes to prioritizing goals, you can use simple task management apps like Trello or Wunderlist.

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3. Have a Personal Learning Library – Thanks to the internet, there’s a colossal amount of resources you can utilize to learn new skills, expand your vocabulary, and train your visualization muscles. Social media networks like SlideShare and YouTube, for example, offer mountains of tutorials you can access to your heart’s content. For a personalized learning library, you can download Instagram videos or GIFs from educational accounts like NASA Goddard and the American Mathematical Society. But if you prefer specific, technical skills, then a good place to start would be online learning platforms like Coursera, edX, and Alison.

4. Participate in Online Communities – The internet is a great place to share experiences, opinions, and sometimes intellectual discussions with like-minded individuals. Reddit, for example, has a place or “subreddit” dedicated for every topic imaginable – from technology to entrepreneurship. For structured debates, you can head to websites like Debate.org and let other users choose the winner via votes.

5. Seek Mental Stimulation – To keep your mind sharp, make it a habit to engage in mentally stimulating activities such as chess, puzzles, and brain training apps. A great resource would be Lumosity, which contains dozens of cognitive games designed by teams of scientists and game designers.

6. Keep a Personal Journal – Finally, keeping a personal journal allows you to take a second look at everything that happened in your day.[5] Remember that writing about learning experiences lets you focus on the lesson rather than the emotion. It will help you analyze how you made your decisions, why you came to certain conclusions, and what you can do to improve in the future.

As an adult, you are required to face a myriad of challenges on a daily basis. Work, school, business, relationships – the list goes on when it comes to the sources of life’s problems. With analytical skills, you can confront and overcome any obstacle standing between you and your goals.

Reference

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Last Updated on June 13, 2019

10 Best Success Books You Need to Read to Be Great at Business

10 Best Success Books You Need to Read to Be Great at Business

Take a minute and think about some of the most successful people you know.

I’d bet they’re great with people, are super-productive, and think differently than most. After all, that’s how they got to be where they are today.

Jealous of them? You don’t have to be.

You can learn these same skills by studying some of the best business and success books that can help you take your game to the next level. Here’re 10 of my favorites:

1. How to Win Friends and Influence People by Dale Carnegie

    Dale Carnegie’s best-selling book that helped to launch a personal growth empire should be required reading for everyone who wants to learn how to build and nurture relationships for a lifetime.

    Read this book and you’ll learn some simple advice than can help you build popularity points within your current network and just as important, expand it to others.

    Get the book here!

    2. Focal Point by Brian Tracy

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      Got a lot on your to-do list? Of course you do. But what separates productive people from others is their ability to focus on a singular task at a time, and getting it done before moving on to the next one.

      Sounds simple in theory, but this can be extremely difficult in practice. In Focal Point Brian Tracy offers tips to help build discipline and organization into your day so you can get more stuff done.

      Get the book here!

      3. Purple Cow by Seth Godin

        Creating a “me-too” product can be easy at the start but can doom you to business failure. That’s why marketing maverick Seth Godin recommends creating a product that is truly different from anything already available in the marketplace.

        In essence by making the product different you’ll be building the marketing into the actual product development…which just makes your actual marketing a helluva lot easier.

        Get the book here!

        4. The Magic of Thinking Big by David Schwartz

          If you’ve struggled with procrastination or small thinking, this is the book for you. In it Schwartz offers practical advice that can help you get inspired and motivated to create a bigger life for yourself. And with it can be a more lucrative and rewarding career.

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          Get the book here!

          5. Man’s Search for Meaning by Viktor Frankel

            It can be difficult for lots of people to keep things in perspective, especially when working on high priority and urgent projects at work.

            Man’s Search for Meaning can be a life-changing book in the sense that it can open your eyes to a first-hand experience of one of the greatest atrocities in the history of mankind, while also teaching a valuable lesson about having purpose.

            Get the book here!

            6. The 4-Hour Work Week by Tim Ferriss

              Solo-entrepreneurs can learn a ton from the guy who made lifestyle design popular. But guess what? The 4HWW isn’t just for guys and girls who want to start a small online business.

              Smart moves like outsourcing, following the 80/20 rule, and automating processes should be made by entry-level workers and established executives alike.

              Get the book here!

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              7. Think and Grow Rich by Napoleon Hill

                I remember sitting on a couch and opening this book on a Saturday morning, thinking I’d get through a chapter and then get on with my day. Instead, about 12 hours later, I was finished with the book. The concepts in it were mind-blowing to me.

                To think that thoughts can create your reality sounded a little far-fetched at first. But after going through the book and understanding that your thoughts create your beliefs, which lead to actions, which then lead to habits….well you can get where I’m going with this.

                If you focus your thoughts on success, achieving it will be much more likely than thinking about obstacles, failures and everything else that can get in your way.

                Get the book here!

                8. The One Minute Manager by Kenneth Blanchard

                  If you’re going to read one management book in your life, this should be it. It’s simple. You can read it in an afternoon. And the advice works.

                  Get the book here!

                  9. The Lean Start-Up by Eric Ries

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                    Before you create any sort of business you’ll want to give Lean Start-Up a read through. Doing so can save you money, time and other resources you could have potentially wasted otherwise.

                    Get the book here!

                    10. The Monk and the Riddle by Randy Komisar

                      The story Randy Komisar shares in the Monk and the Riddle offers advice about not just about how you need to think when starting a new business, but also about how to build a life you’re passionate about.

                      Understanding the technical aspects of launching a start-up is great, but if you don’t have the staying power to stick with it when the going gets tough then it’s not likely to work.

                      This book can help you understand this lesson before you spend blood, sweat and tears on a project that you’re heart isn’t into.

                      Get the book here!

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