The Analytics Power Hour #258: Goals, KPIs, and Targets, Oh My! with Tim Wilson
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Nov 12, 2024 Tim Wilson, Head of Solutions at Facts and Feelings and analytics expert, dives deep into the nuances of goal-setting and KPIs. He argues against relying solely on AI for meaningful business alignment, emphasizing the need for clear objectives. The conversation unpacks the confusion surrounding marketing metrics, stressing the importance of connecting outcomes to real business success. Tim also highlights challenges in defining success and the importance of communication between analysts and marketing teams to avoid misalignment.
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Separate Measurement and Validation
- Goals, KPIs, and targets often get mashed together, causing confusion around what was actually achieved.
- Clear separation of measuring performance and validating hypotheses leads to better evaluation.
Use Two Magic Questions
- Ask two magic questions upfront: what are we trying to achieve and how will we know if we've done it?
- Document these goals clearly and socialize them to avoid later disputes.
Expose Misalignment Early
- Conduct silent brainstorming to uncover all goals and expose misalignment early.
- Address conflicting objectives before campaign execution to ensure unified efforts.