5 Essential Practices for the Data Driven Organization
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The document discusses the essential practices of data-driven organizations. It outlines five practices: 1) defining metrics to measure, 2) deploying analytics tools expertly, 3) analyzing results and making recommendations, 4) creating changes based on data, and 5) measuring again to see what works. It also discusses establishing a repeatable process like the eBusiness 5 Step Optimization method and ensuring quality data through careful tagging and filtering. Convergence analytics is presented as combining data from multiple sources to develop a single customer view.
5 Essential Practices for the Data Driven Organization
- 1. 5 Essential Practices of the Data Driven Organization
- 2. 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
- 3. 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
- 4. Multi-Channel Adds to Complexity • Mobile • Social • eMail • Web • Off-line • . . .is Convergence Analytics in our future? (more later)
- 5. 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
- 6. Analytics Success • Success in analytics requires industrial strength accuracy, standardization and a repeatable process.
- 7. The Data Driven Organization <link rel='stylesheet' id='hubspot-css' href='http://www.technologyleaders.com/wp- content/plugins/hubspot/css/hubspot.css?ver=3.3.2' type='text/css' media='all' /> <link rel='stylesheet' id='page-list-style-css' href='http://www.technologyleaders.com/wp- content/plugins/sitemap/css/page-list.css?ver=3.7' type='text/css' media='all' /> <script type='text/javascript' src='http://www.technologyleaders.com/wp- includes/js/jquery/jquery.js?ver=1.7.1'></script> <script type='text/javascript' src='http://maps.google.com/maps/api/js?sensor=false& ver=3.3.2'></script> <link rel="EditURI" type="application/rsd+xml" title="RSD" href="http://www.technologyleaders.com/xmlrpc.php?rsd" /> <link rel="wlwmanifest" type="application/wlwmanifest+xml" href="http://www.technologyleaders.com/wp- includes/wlwmanifest.xml" />
- 8. 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
- 9. Five Essential Practices (1) • The Data Driven Organization defines what it wants to measure
- 10. Five Essential Practices (2) • The Data Driven Organization deploys analytics tools expertly
- 11. Five Essential Practices (3) • The Data Driven Organization analyzes results and makes recommendations
- 12. Five Essential Practices (4) • The Data Driven Organization creates changes based on data
- 13. Five Essential Practices (5) • The Data Driven Organization measures again. . .and again (to see what worked)
- 14. A Repeatable Process • eBusiness 5 Step Optimization • The method by which the Data Driven Organization can get organized
- 15. 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
- 16. A Repeatable Process Activity Deliverable Benefit Define Drivers Set of goals and targets for web Clear understanding of success optimization project factors for web site Build Metrics Create measurement criteria Gain critical insight into web plus tool configuration performance Plan Actions Map of improvements, based Targeted, achievable on data analysis improvement goals Create Changes* Development and delivery of A web site that responds to actual improvements quantifiable critique Measure Success Evidence of improvement by Proof that the process resulted percentage in. . . . . .Better Web ROI *may include third party content creation
- 17. 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 Productivity The Data Driven Organization Knows How to Categorize its Digital Properties
- 18. 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
- 19. 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
- 20. The Importance of QA • The Data Driven Organization trusts its numbers • . . .because they've inspected tagging and filtering very carefully. Tags/Filters
- 21. The Sixth Sense • Convergence Analytics – Big Data meets – Multichannel meets – Web Analytics • Targeting Marketers with data from many sources
- 22. The Sixth Sense (2) • Convergence Analytics – Data extraction – Data preparation – Data load – Data presentation • From numerous sources, including off-line
- 23. 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?
- 24. Look in the Mirror • Do you recognize your organization? • Can you: Data Driven • Define your conversions • Measure accurately • Change content/architecture based on metrics
- 25. What Success Looks Like • Data Driven Organizations will thrive in a digitized marketplace because they know that: • ―Creativity without Conversion equals Zero‖ * *Rand Schulman
- 26. Thank You • Andrew Edwards • [email protected]