As you learn the intricate dance around Data measurement strategy, each word that you hear will be a term taken from fantasy. The challenge is to make the most of the overwhelming amount of data. Imagine that you’re in the midst of chaos at a buffet. You have to plan your strategy carefully so that you do not end up with a mishmash of sushi on top of some jello. The right data measurement strategy will allow you to focus on what really matters.
Imagine that the data flows like a torrent of water through a valley. Your job? Do not use a yardstick or other random measuring device to gauge the flow. Precision is required, or as the nerds say, granular intelligence, to be able to detect even small fluctuations in a stream.
But before you get a headache, let’s discuss the basics. In its essence, a data-measurement strategy should be as transparent at your grandmother’s crystal china. It is about setting goals. Without clear objectives, you may end up getting nowhere as fast as an icecube melts in Las Vegas. What does success look like? Is it increased sales? Better customer satisfaction? Each objective must be measured using a customized set of metrics.
How do you choose metrics? It’s definitely not by playing the eeny – meeny – miny – moe game. Each metric needs to be directly related to your objectives, just like a horse’s lasso ties to the cowboy. This interconnectedness allows you to measure the things that really affect your outcomes.
We’re not talking about hammers. Software that tracks everything from eyeball movements to click rates is available in the digital era. It isn’t necessary to utilize all of these tools. Oh no! That’s a rookie misstep. Choose the tools you need for what you’re tracking. This is similar to choosing the right type fishing net. You wouldn’t choose a dragnet for minnows.
It is time to move onto the analysis. Analysis, as it is called, can be a scary beast, ready to mislead you with data-myths. Clear analysis involves seeing through haze and providing actionable insights. Think of it like a wilderness compass. It doesn’t only guide you to safety, it also tells you where the north is. What does all this mean for me? Don’t simply collect data for no reason. Use your data! It is important to adapt, refine, or tweak your strategies according to the data and not your gut feelings.
Do you want to talk about sharing this information? It’s critical. As helpful as chocolate teapots, hoarding data insights is not a good idea. Share your insights with different teams. The treasure chest should be open to everyone from marketing and product development. It can ignite new ideas like flint and tinder.
As alive as New York’s streets, data is also alive. It changes and grows. The balance between keeping your strategies flexible and adaptable, but consistent enough to provide reliable measurement requires a similar act as a cat on the window sill of a house during a thunder storm.
Remember the human component. Data can reveal many things. However, it does not feel, it does not empathize and certainly cannot crack jokes over the watercooler. Combine data-driven approaches with human intuition and knowledge. The combination is like peanuts and jelly, which are oddly perfect.