What do Twitter followers do for the businesses bottom line? You can’t answer, then why are you focusing reporting on them? Not talking ROI, though that is great if it is there, but in general.
ActionableIt is clear the source of the problem or necessary actions when the metric goes up, down, flat or off-target PROBLEMS:It is too broad for specific groups to impact (e.g. customer satisfaction).Focus on absolute measures rather than changes (e.g. total sales vs. change in sales)Common interpretationPeople in the organization recognize what the metric meansPROBLEMS:It uses data definitions that aren’t well understood (e.g. leads vs. prospects).TransparentHow the metric is generated is sharedPROBLEM:Attempting to create a compound simpleand easy to understandmetric that combines a bunch of factors calculationAccessible, credible dataThe data can be acquired with modest effort from a source that people trust.PROBLEMS:Pursuing the perfect metric that is hard to gather rather than using a close proxy.Throw out a metric, and see if anyone notices it’s absence!
Do you need to know fans, followers, and subscribers separately?
Less is the New More #somuchdata Adam Ware @wheresitworking SwellPath.com
Everyone’s Dilemma An overarching problem collecting, organizing, reporting on, and analyzing data Photo credit: http://www.flickr.com/photos/jorritf/2312085155/ Adam Ware | @wheresitworking #somuchdata2
How Did We Get Here? Three contributors to the growth of “internet” data: Speed (real-time data) Scale (unprecedented processing power) Sensors (many new kinds of data)
2002: 5 EB of Data > 2009: 281 EB of Data That’s 5600% growth! Photo credit: http://www.flickr.com/photos/gina64/157544725/ Adam Ware | @wheresitworking #somuchdata3
Digital Marketing Data is a Mess The problem is exacerbated by: Most (or all) metrics not being aligned with business objectives Disparate data sources – website, social, mobile, CRM, etc. Photo credit: http://www.flickr.com/photos/scubabikes/3067054750/ Adam Ware | @wheresitworking #somuchdata4
How do we overcome it? Photo credit: http://www.flickr.com/photos/timalosi/2895379972/ Adam Ware | @wheresitworking #somuchdata5
Ask: Do the Numbers Even Matter? Reasons why they might not: Aesthetics Brand values Overarching business strategy Photo credit: http://www.flickr.com/photos/captivated/117197485/ Adam Ware | @wheresitworking #somuchdata6
Look at the Few Isolate metrics that matter; make sure: They are actionable They can be commonly interpreted The calculations are transparent and simple The data is easily accessible and credible Photo credit: http://www.flickr.com/photos/drew_makepeace/4929858344/ Adam Ware | @wheresitworking #somuchdata7
Aggregate Metrics Would it be less valuable in aggregate? Be broad, but be comprehensive Helps avoid uncertainty, data-doubt, etc. Photo credit: http://www.flickr.com/photos/tranbc/5640566743/ Adam Ware | @wheresitworking #somuchdata8
Image: Planetary App Visualize It A visualization is can be worth a thousand metrics Use best practices, but utilize unique visualizations “Data visualizations will become the new interface to your computing experiences” Adam Ware | @wheresitworking #somuchdata9
Image: Planetary App What are you doing about it? Adam Ware | @wheresitworking #somuchdata10
Image: Planetary App Resources Marissa Mayer at PARChttp://www.slideshare.net/PARCInc/innovation-at-google-the-physics-of-data KISS Metrics: You Vs. The Datahttp://blog.kissmetrics.com/you-vs-the-data/ Richard MacManus on Data Visualizations: http://www.readwriteweb.com/archives/the_future_of_user_interfaces_data_visualization.php JUICE Choosing the Perfect metric http://www.juiceanalytics.com/writing/choosing-right-metric/ Adam Ware | @wheresitworking #somuchdata11