The 10 / 90 Rule for Magnificent Web Analytics Success

Orchid

Numerous studies have pointed out that while almost all Fortune 500 companies have great investments in "Web Analytics" they still struggle to make any meaningful business decisions. Most people complain that there are tera bytes of data and giga bytes of reports and mega bytes of Excel and PowerPoint files. Yet no actionable insights, no innate awareness of what is really going on through the clutter of site clickstream data. Through my humble experience in this field I have developed a rule to fix this problem and achieve Magnificent Success. I call it the 10 / 90 rule. Here it what it says…….. Our Goal: Highest value from Web Analytics…

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Excellent Analytics Tip#1: Compute Statistical Significance

Focus

We all wish that our key internal partners, business decision makers, would use Web Analytics data a lot more to make effective decisions. How do we make recommendations / decisions with confidence? How can we drive action rather than pushing data? The challenge is how to separate Signal from Noise and make it easy to communicate that distinction. This is where Excellent Analytics Tip #1, a recurring series, comes in. Leverage the power of Statistics. Consider this scenario (A): You do send out two offers to potential customer. Here is how the outcomes look: Offer One Responses: 5,300. Order: 46. Hence Conversion Rate: 0.87% Offer Two Responses: 5,200. Order: 55.…

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