Excellent Analytics Tip#1: Compute Statistical Significance

84 Comments | Print | PDF

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.…

Keep reading: Excellent Analytics Tip#1: Compute Statistical Significance »

Overview & Importance of Qualitative Metrics

17 Comments | Print | PDF

Imagine walking into and out of a supermarket. If you did not purchase anything then the supermarket managers probably don't even know you were there. If you purchased something, the supermarket knows something was sold (they know a bit more if you use a membership card).

Visiting a website, you leave behind a significant amount of data, whether you buy something or not. The website knows every "aisle" you walked down, everything you touched and everything you put in your cart and then discarded. If you buy, the site manager knows where you live, where you came to the website from, which promotion you are responding to, how many times…

Keep reading: Overview & Importance of Qualitative Metrics »