5 Essential Practices for the Data Driven Organization
5 Essential Practices of the Data Driven Organization
Overview: We Will Cover . . . Essential cooperative behaviors for both content and technology teams focused on digital ROI. Common roadblocks and how to overcome them using expertise and technology. Insights into some "convergence analytics" tools coming on the market
Analytics Today: a Tough Fight • Few organizations can manage effectively • Lack of overall standards and benchmarks • Lack of efficiency in analytics process • Quantity of data is ahead of data analysis • Frequent uncertainty that data is accurate • Flawed tags and data collection • Difficult to keep tools/tagging/expertise current
Muted Impact of Analytics• Analytics often isolated from decision-makers• Reports go to report recipients—but what do they do with the data?• Analysts generate insights• . . .but executives may or may not be interested• Tendency to focus on global trending data – Rather than engagement and conversion metrics – Because it is much harder to define engagement and conversion than to look at overall trends• Internal political impact of success/failure measurement
Analytics Success• Success in analytics requires industrial strength accuracy, standardization and a repeatable process.
The Data-Driven Organization is:• Organized around the intelligence gained from the data it collects about its customer interactions.• Good about Managing Expectations• Willing to admit its requirements are not unique (and therefore cannot be defined)• Ready to standardize its measurements across digital properties• Ready to get expertise where it resides (rather than relying on a preconceived notion of where it might be found)• Eager to improve based on findings
Five Essential Practices (1)• The Data Driven Organization defines what it wants to measure
Five Essential Practices (2)• The Data Driven Organizationdeploys analytics tools expertly
Five Essential Practices (3)• The Data Driven Organization analyzes results and makes recommendations
Five Essential Practices (4)• The Data Driven Organization creates changes based on data
Five Essential Practices (5)• The Data Driven Organization measures again. . .and again (to see what worked)
A Repeatable Process• eBusiness 5 Step Optimization• The method by which the Data Driven Organization can get organized
A Repeatable Process• e5o provides a framework for total web and digital ROI. Properly deployed, it is a complete, repeatable feedback loop targeted at success. It involves business, technical, analysis and creative components that form the basis for a data-driven marketing organization
A Repeatable Process Activity Deliverable BenefitDefine Drivers Set of goals and targets for web Clear understanding of success optimization project factors for web siteBuild Metrics Create measurement criteria Gain critical insight into web plus tool configuration performancePlan Actions Map of improvements, based Targeted, achievable on data analysis improvement goalsCreate Changes* Development and delivery of A web site that responds to actual improvements quantifiable critiqueMeasure Success Evidence of improvement by Proof that the process resulted percentage in. . . . . .Better Web ROI *may include third party content creation
KPI Definition Basics If you are a______site. . . You’ll want to improve. . . Content/Brand Stickiness E-Commerce On line Sales Lead Generation Customer Contacts Self-Service/ Efficiency/ Information ProductivityThe Data Driven Organization Knows How to Categorize its Digital Properties
Conversion Basics Key Performance Indicators are almost synonymous with ―desired actions‖. When desired actions are performed by the user, that is considered to be a ―conversion event‖. The four major steps in conversion are shown below.• Reach (Campaigns)• Engage (Landing Page/Other Convincing Content)• Convert (Visitor performs desired action)• Retain (Re-target, up-sell, cross-sell) The Data Driven Organization Knows How to Segment Conversion Steps
Campaign Awareness• Every ―touch-point‖ is a Campaign • Email • Social • Banner • Module • Affiliate • . . .and can be measured The Data Driven Organization Knows That Campaigns Must Convert
The Importance of QA• The Data Driven Organization trusts its numbers• . . .because theyve inspected tagging and filtering very carefully. Tags/Filters
The Sixth Sense • Convergence Analytics – Big Data meets – Multichannel meets – Web Analytics • Targeting Marketers with data from many sources
The Sixth Sense (2)• Convergence Analytics – Data extraction – Data preparation – Data load – Data presentation• From numerous sources, including off-line
The Sixth Sense (3)• Convergence Analytics• The goal is a single view of marketing touchpoints• Focused on understanding true ROI• Players: Anametrix, Gooddata, Domo• Does Convergence Analytics replace web analytics?
Look in the Mirror • Do you recognize your organization? • Can you:Data Driven • Define your conversions • Measure accurately • Change content/architecture based on metrics
What Success Looks Like• Data Driven Organizations will thrive in a digitized marketplace because they know that:• ―Creativity without Conversion equals Zero‖ * *Rand Schulman
Thank You• Andrew Edwards• email@example.com
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