Analytics Cycle
Measure: the aim is to collect all the data – quantitative and qualitative – needed for you to understand your business.
Analyze: the aim is to extract actionable information and identify reasons for any anomalies in your data. This includes segmentation, attribution, and competitive analysis. You’ll want to put the data into context – using industry benchmarks and competitor activities.
Report: the aim is to dissect and digest raw data collected, process it and present it with clear and actionable information for making business decisions.
Test: the aim is to find the best solutions to the problems being identified during the analysis. Testing eliminates any personal opinions from the decision making process, helping you discover improvement opportunities and create actionable recommendations.
Metanoia Solutions Digital Analytics Business Unit is immersed in the analysis of qualitative and quantitative data from your business and the competition to drive a continual improvement of the online experience that your customers and potential customers have which translates to your desired outcomes (both online and offline)
With the right skills, processes and technologies, our clients can uncover the vital information about how they engage with their customers, effectiveness of their engagements and give each the data on which to take action to improve the outcome their business results.
Outcomes:One of the most important steps, and usually the first step in the Metanoia digital analytics project, is to determine your ultimate business objectives: what do you want achieve and how is it measured? A clearly defined measurement strategy will guide the implementation strategy and the data analysis.
Outcomes vs outputs: Often people tend to focus on outputs, and use it as a means of measurement, or even worse, the only measurement.
A simple example is this:
A 20% increase in organic traffic does not necessary mean a 20% increase in profit – assuming the ultimate business objective is profit. Outputs are the data without context and focus. Metanoia can assist with recommendations based upon our current global work in these areas.
Data Analytics
Often Metanoia is also involved with Data Analytics too. Big data has been one of the hottest buzz words in the digital marketing space for the past few years. Metanoia has focused upon the evolution of cloud computing – infinite computing power connected through real-time communication networks – that has made data collection more affordable.
The proliferation of connected devices – smart phones, tablets and other digitally connected devices – has made the world more connected than ever, enabling marketers to monitor and collect engagement information at each touch point of the purchasing funnel. This combination has given today’s marketers unprecedented data about their customers.