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.