Analytical data like numbers are value neutral. They don’t have any value. They are neither good nor bad. They are just data with no value or context. Numbers need context in order to be understood. Context helps in understanding and interpreting data, and making sure if our business goals and objectives are being achieved or not. Analytical data like numbers mean nothing unless they are read in the context of something. Numbers are just data with no value. They would make more sense only if:
- They are tied to clear and quantitative goals or objects that can be measured.
- They are read in proper context which helps in better understanding of the goals and objectives are being achieved or not. Goals and objectives are the soul of analytics. Without them, you are lost and have no direction. Without goals, you only have numbers to report, but are without a clue of what to make of those numbers or analytical reports.You must define success by establishing clear goals and objectives for analytics. You can establish goals and objectives by answering these fundamental questions.1. Where do visitors come from – Answering this question will make you understand that visitors behave differently based on where they come from. A website visitor coming to your website by clicking your paid ad on Facebook will behave differently than the website visitor coming from a news website or Google Search.2. What did they do – This question will answer if your intended goal or objective for the visitor was achieved or not. Did they meet a goal? Was there a conversion? Did you earn any revenue from their visit? This will help you create your digital marketing strategy.3. How do I respond – This question will answer if you already have a marketing plan in place or not.4. Did they make us money – This will tell you if the conversion was achieved or not.
5. What do I want the visitor to do – This question will help you narrow down on high priority goals and objectives.
6. What actions lead to revenue – This will give you a clear picture of the user actions exhibiting buying behavior that lead to conversions.
The goal is to turn data into information, and information into insight.
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