Data Driven Daily
-
Data Driven Crisis Management
It's possible to wield data as a mighty weapon to not only survive a crisis but to turn it into an opportunity. We’ll cover various methods and approaches to do just that, which you can use immediately to take back control.
6 posts in series
coronavirus crisis management data driven crisis management -
Making Remote Work
Today, there are many ways to build a company and often not all of your employees are in the same place. Remote work has gone from a radical idea to common practice. Here are some principles and tactics that will help your team make remote working an advantage that actually increases your productivity.
4 posts in series
remote work remote-friendly work from home work remote -
Customer Acquisition Costs
Customers are not free. How much do you pay per customer? This week we look at customer acquisition cost (CAC). Breaking down CAC can help you figure out how much money your business gets from each customer.
5 posts in series
acquisition cost customer -
Market Sizing
Your total addressable market (TAM) is how big your business could theoretically become if it were to control 100% of its market – if every possible customer was a customer of your company and you had no competition.
5 posts in series
markets comparables market data market analysis market sizing top down -
Data Silos
The tools we use to collect data are constantly evolving. This leads us to having lots of data in different databases. This week we talk about how to break down these data silos and aggregate all of your data in one place.
5 posts in series
data data silos -
Pricing Strategy – Part 2
Setting the right price is challenging. In part two of this two-part series we discuss more methods that will help you set prices that will help you drive revenue.
5 posts in series
discounts pricing promotions strategy promotion tiered pricing -
See how Outlier can help you know the impossible with your data.
Watch a webinar today.
-
Pricing Strategy – Part 1
How can we set prices? In part one of this two-part series we discuss methods that can help you find the right price.
5 posts in series
demand elasticity pricing strategy price data inputs theory -
Competitive Intelligence
We all want to know what our competitors are up to. Here’s how to, legally, gather and interpret data on your competition.
5 posts in series
business intelligence data pricing brand -
Unit Economics
Unit Economics looks at per-unit metrics. They can be hard to calculate, but can provide helpful insights on the profitability of your business.
4 posts in series
economics unit examples margin -
Metric Translation
Data can be very helpful only if you know what it is trying to tell you. Learn how to understand and translate your data so you can figure out what is going on.
5 posts in series
metric change data -
Trendlines
Now that we have gathered our data, let’s start talking about how to use it. Trendlines are a great way of using your data to gain insight into your business.
5 posts in series
detecting trendline arima arima trendline regression average moving average -
Data Audits
It’s easy to gather data. The challenging part is trusting it. Here we talk about how to audit your data so you know that your data is trustworthy.
5 posts in series
data audit define detecting identify criteria -
Design
5 posts in series
design goals analytics competition feature customer experience data -
Sales Metrics
Most companies make money through sales, but few use data to optimize their Sales process. Here is how to use data to make your sales process better.
5 posts in series
analytics metrics operations sales -
Consumer Lifetime Value
Lifetime Value (LTV) is an important metric for businesses to track. It can help you figure out whether or not you can afford to get more customers. We talk about what LTV means, how to find it, and what it means to your business.
5 posts in series
analytics LTV value -
Choosing KPI Metrics
Key Performance Indicators are the most important metrics you track. Choosing them well is critical to ensuring your business achieves its goals.
5 posts in series
analytics KPIs metrics -
Building a Culture of Data
5 posts in series
culture data trust hierarchy decisions -
Task Prioritization
Your productivity is a direct result of how effectively you prioritize all the tasks you need to complete. Data can be an essential tool in doing this well.
5 posts in series
examples formulas prioritization task reach value tasks time -
Selecting Analytics Tools
The choice of your analytics tools is a critical step in building your ability to use data to make decisions. Here is what to look for, what to avoid and how to make your choices a success.
5 posts in series
analysis automation tools visualization data storage analytics collection -
Data Insights
Knowing what to look for is often the difference between success and failure when it comes to data exploration. Here are some common types of insights and how to find them.
5 posts in series
insights changing relationships trend anomalies data -
Data Exploration
Exploring your data can be time consuming and ultimately unsuccessful. Here are some best practices to ensure your data explorations produce real results.
4 posts in series
insights validating finding data exploration -
Data Storytelling
Some of the worst business decisions in history were data driven! How you communicate what the data tells you is important too.
5 posts in series
data general storytelling inform mislead lie -
Recommendation Systems
If you have purchased anything online in the past 15 years, you have been exposed to a recommendation system.
5 posts in series
recommendation systems recommendations recommendation -
Growth Rate
How fast is your business growing? It can be harder to answer than it might seem.
5 posts in series
growth prediction seasonal compound define formula -
Churn
A sad fact of business is that you cannot retain a customer forever.
5 posts in series
churn transaction revenue define -
Metric Component Analysis
Can you list what the primary drivers were of your total revenue, revenue growth and gross margins?
9 posts in series
analysis metrics component metric dimension median -
Root Cause Analysis
How to quickly identify the root cause of problems in your business.
5 posts in series
analysis design classify factors -
Ad Campaign Optimization
Get the most of your advertising spend by optimizing your campaign performance.
5 posts in series
automation campaign optimize customer anomaly performance -
Combinatorics
Understand permutations, combinations and how they affect your options.
5 posts in series
combination combinatorics permutation -
Clustering
Clustering helps find hidden patterns in your data by grouping similar things for you, such as customer personas.
5 posts in series
clustering k-means -
Customer Personas
Customer personas help you understand your customers by identifying common traits and behaviors.
5 posts in series
customer test build traits -
Game Theory
Game Theory is a mathematical discipline which helps you understand how others may respond to your decisions.
5 posts in series
game theory information zero-sum game game strategy -
Decision Theory
Decision Theory is a framework for structuring your decision making process and allowing you to measure it.
5 posts in series
decision decision tree analysis expected value -
Scenario Planning
Scenario Planning is a useful tool when you need to make decisions in an uncertain and changing environment where the future is hard to predict.
5 posts in series
scenario planning simulation identify trend analytics future prediction -
Impact Analysis
Impact Analysis is a way to estimate the impact your decisions will have on the business and hence evaluate your options.
5 posts in series
analyze impact analysis test analysis -
Data Driven Planning
Data Driven Planning is a method of using data to build better long term business plans.
5 posts in series
planning efficiency data growth -
Dirty Data
Not all data is clean and easy to use, often your data is dirty and you need to figure out how to clean it.
5 posts in series
data detection consistency -
Seasonality
Many aspects of your business will change with the seasons, and the better you can understand those changes the better you will be able to predict the future.
5 posts in series
data seasonality predict identify -
Productivity
Measuring and evaluating your productivity can greatly improve your overall business performance.
5 posts in series
productivity optimize schedule team velocity measure -
Funnels
Many aspects of your business will change with the seasons, and the better you can understand those changes the better you will be able to predict the future.
5 posts in series
funnels traps optimize tracking -
Text Analysis
Text-based, open-ended questions are very difficult to analyze and glean insights at scale.
5 posts in series
analysis text -
Survey Design
If you want to know what your customers are thinking, you need to ask them!
5 posts in series
analysis design bias structure -
A/B Testing
Even when you have a wealth of data it can be challenging to make a difficult decision when you have a number of different options to choose between.
5 posts in series
a/b test -
Setting Goals
Being data driven is much more than just understanding how you’ve performed in the past, it is about improving in the future!
5 posts in series
goal goals okr -
Money Metrics
Are there more financial metrics you should be using to make decisions? The answer is absolutely!
5 posts in series
analysis metric money metrics -
Advanced KPIs
More complex metrics that are specific to your business can be dangerous because they are specialized and complex.
5 posts in series
KPIs retail mobile value saas advanced -
Margin Metrics
You are in business to make money! So am I, actually, so we have something in common. But what does it mean to “make money”?
5 posts in series
efficiency margin metric -
Data Analysis Tools
There are a number of data analytics tools available to compute simple statistics and visualize your data.
5 posts in series
analysis analytics data r spss google excel tools -
Data Visualization
Data visualization is complementary to data analysis – it allows you to condense large data sets into a single picture (or set of pictures).
5 posts in series
data -
Simple Statistics
A few of the most common descriptive statistics used to understand data and predictive modeling using a linear regression.
5 posts in series
linear regression statistics data -
Predicting the Future
Predicting the future is hard. I am fairly certain of this because I’ve never won the Powerball and neither have you.
5 posts in series
future predict churn lead growth -
Customer Segmentation
Segmentation, in its simplest form, breaks through the illusion that all of your customers are equal.
5 posts in series
channel customer activity cohorts -
Happy Customers
What makes a happy customer? What is the deciding factor between happy customers and lost customers?
5 posts in series
customers kano feedback -
Numbers Lie
Numbers can lie to you. Some of the most data driven organizations in the world make the biggest mistakes.
5 posts in series
bias numbers