refine data for value

The primacy of data and the need for analyt­ics is undis­puted. Digital data is an amazing resource, and like any natural resource it must be gath­ered, refined, and shaped. This is why it is crucial to any busi­ness to collect, orga­nize, and under­stand their data. Let’s take a closer look at data in each step of the process.

Gather the data (Data Quality) Almost without fail new client conver­sa­tions start like this: “I don’t even trust the data we are getting, and we don’t know what the reports mean.” Data you can’t trust is data you can’t use. Data you can’t under­stand is data you can’t lever­age for deci­sion making. This is why it is crucial to spend time and effort making sure the data being collected is accu­rate and that you are gath­er­ing the right metrics. The process of doing this is in two parts, knowing what data to collect and being able to collect it accu­rately.

Refine the data (Data Meaning) Unless your busi­ness is online only; then there is another trans­la­tion layer that must be applied to web metric data you gather and report on. When I apply data to a problem I need to under­stand the connec­tion that the metrics have to the problem at hand. To bring value the data or metrics from the web must be trans­lated up into the busi­ness. If my main value is revenue then I need to under­stand the mapping of my metrics to revenue. If my metric is new customers then I need to asso­ciate my web metrics to the like­li­hood that the web visitor will become a customer or remain one.

Shape the data (Data Usage) A great dash­board commu­ni­cates what is going on quickly and effi­ciently. The dash­board consumer then uses their exper­tise and domain knowl­edge to ask ques­tions about the current state to form a hypoth­e­sis for risk miti­ga­tion against loss or a hypoth­e­sis for new action and incre­men­tal gain. It is these hypothe­ses that form the seeds of insight and future busi­ness improve­ment. Only by prop­erly apply­ing the data to current busi­ness oppor­tu­ni­ties can the data so care­fully gath­ered and refined be used to improve busi­ness outcomes.

At Search Discovery our passion is to see data used well. We trans­late that passion into each of the data process steps. For data quality it is a combi­na­tion of our expe­ri­ence with measure­ment and our tech­ni­cal capa­bil­ity. We audit and fix what is broken in the current data collec­tion process, and bring to life new measure­ment capa­bil­i­ties, (some­times things never thought possi­ble) by using best in class tools like Adobe Dynamic Tag Manage­ment. We refine the data by working with the busi­ness to present the data in a way that can be under­stood easily. Then we educate and create common under­stand­ing of the metrics and their rela­tion­ship to how the busi­ness actu­ally oper­ates. Finally, we use the data to learn and grow and then grow more. We have many years of expe­ri­ence doing analy­sis and testing in part­ner­ship with our clients, growing their busi­nesses.  Our expe­ri­ence leads to prior­i­ti­za­tion of what to improve, and giving insight into how to increase conver­sion and ROI.

What can data do for you? We would love to help you find out.