Understanding the difference between analytics can help marketers and managers decipher their data faster and more effectively. pocketsquaremedia.co

1. Understand
the
difference
in
analytics
types
By:
Wayne
Chen
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

2. ¡ Any
company
can
collect
data
and
store
it
but
the
goal
is
to
extract
data
that
can
create
value
¡ Analytics
has
become
the
pinnacle
of
data
refinement
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

3. ¡ Key
Analytic
Groups
§ Business
Intelligence
§ Descriptive
Analytics
§ Optimization
§ Predictive
Analytics
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

4. ¡ AKA:
Analytics
¡ B.I.
Reporting
§ Track
and
measure:
Real-­‐
Time
,
Daily,
Weekly,
Monthly
and
Annual
¡ Past
30
day
reporting
on
response
rate
and
conversion
rate
for
a
campaign
¡ Optimal
time/day
ROI
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

5. ¡ Customer
Segmentation
Profiles
§ What
pages
are
they
on?
What
peaks
interests?
§ High
value
vs.
Low
value
customers
§ Income,
age,
children,
occupation,
and
regional
breakdown
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

6. ¡ Understand
the
future
of
growth
and
demand
§ Who
will
respond
to
this
campaign
or
the
changes?
§ Potential
sales
value
of
each
customer.
Potential
negative
consequences?
¡ Requires
structure
models
to
have
scores
¡ Trained
statisticians
with
custom
variables
and
databases
to
analyze
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

7. ¡ Focus
on
the
“What
if”
§ Increase
advertising
on
specific
channels
§ Enhanced
keywords,
content
and
promotions
§ Best
optimal
combination
to
yield
maximum
ROI
¡ Uses
econometric
modeling
to
form
execution
strategy
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!

8. ¡ Not
all
analytics
are
created
equal
¡ The
most
popular
may
not
always
be
the
best
for
you
¡ Compare
costs,
features
and
benefits
¡ Focus
in
on
what
you
absolutely
need
first
vs.
what
you
will
need
later
¡ Evaluate
the
product
over
time
and
experience
it
on
a
day-­‐to-­‐
day
¡ Identify
potential
areas
of
improvement
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!
¡ Map
out
what
types
of
data
and
answers
you
are
looking
for
¡ Use
more
than
one
analytic
(free
vs.
paid)
¡ Understand
how
they
are
coming
up
with
the
data
before
buying
in
fully
¡ Investigate
the
longevity
of
the
platform,
company
and
customer
service
history
¡ Ask
friends
and
industry
professionals
for
recommendations
¡ Have
a
transition
plan
and
actually
use
your
analytic
platform

9. Contact
information
¡ Wayne
Chen
¡ Wayne@PocketSquareMedia.co
¡ www.PocketSquareMedia.co
© 2012 -2013 Wayne Chen! Wayne @PocketSquareMedia.co!