This week Dan and Dara discuss a listener submitted topic on how to measure the return on analytics. After arguing about the flawed premise of the quest, they explore different ways that analytics specialists and analysts can measure a tangible return for their hard work.
The key ways that were discussed to measure the impact (or return if you will...) of analytics is via:
- Optimising marketing campaign ROAS
- Improving website/app CVR via testing and CRO programs
- Product optimisation to reduce churn or improve engagement and thus LTV
- Time saving via automation and trusting the data
- Impartiality meaning that you can recommend the best course of action, even if it's not the most popular
- Damage control - minimising negative impact when it's inevitable (i.e. COVID-19)
In other news, Dan hosts and Dara parties!
Check out on LinkedIn:
- Dan - https://bit.ly/3JQKHEb
- Dara - https://bit.ly/3vzV0bO
- Measurelab - https://bit.ly/3Ka513y
Music from Confidential, check out more of their lofi beats on Spotify at https://spoti.fi/3JnEdg6 and on Instagram at https://bit.ly/3u3skWp.
Please leave a rating and review in the places one leaves ratings and reviews. If you want to join Dan and Dara on the podcast and talk about something in the analytics industry you have an opinion about (or just want to suggest a topic for them to chit-chat about), email podcast@measurelab.co.uk or find them on LinkedIn and drop them a message.
Full show notes and transcript over at https://bit.ly/.
The post #38 How do you measure the return on analytics? appeared first on Measurelab.
