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Analytics Process Management: From Hypothesis Identification to Organizational Learning

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Tim Wilson

on 27 August 2016

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Transcript of Analytics Process Management: From Hypothesis Identification to Organizational Learning

analyticsdemystified.com/
analyst-resources

Imagine a world...
From Hypothesis Identification to Organizational Learning
Partner, Web Analytics Demystified
..where Mythbusters is run by Marketers...
A
lign

on goals and KPIs
D
iscover

hypotheses across the company
A
ssess

the hypotheses and your approach
P
rioritize

the hypotheses
T
est

the highest priority hypotheses
Act
on the results
Learn
for the future
Discover
hypotheses across
the company
Assess
the hypotheses
and your approach
Prioritze
the hypotheses
Test
the highest
priority hypotheses
Act
on the results
Learn
for the future
to
People
Process
Technology
Being Data Driven...
People
Process
Technology
The Business's Perspective
People
Process
Technology
The Analyst's Perspective
People
Process
Technology
My Perspective
Everyone
wants to
be
data-driven
these days.
But what does it
take to actually be
"data-driven?"
Great. Got it.
Oh. Wait.
What does
"data-driven"
actually mean
?
Let's make it a
little
simpler
.
Let's recognize
there are
fundamentally
two ways
to use
data.
Performance
Measurement
Hypothesis
Validation
Support
Tracking & communicating performance of KPIs & supporting metrics
Capturing, prioritizing, & confirming the assumptions driving key investments
Enablement tasks, including quick data pulls, platform integration, tool training, and data governance
Alignment means
clearly
established
goals
and
KPIs
.
What we say to marketers
What they hear
I'm not
going away until you spout out some metrics.
What are your KPIs?
Align
on goals and KPIs
Two Magic Questions
1. What are we trying to
achieve?
2. How will we know if we've
done that?
A KPI is not a KPI without a
target
.
And through a process lens...
So, how do we make that process a
great process
?
A
SWAG
is
infinitely better
than a
"We'll know it when we see it"
target.
Napkins are handy
Bracketing is handy, too
Definitely
Bad
Definitely
Good
10 Leads
10,000 Leads
Target
Goals and KPIs with Targets
Effective Performance Measurement,
Meaningful Dashboard
are the core of
which manifests itself as a
hy·poth·e·sis
Remember high school science class?
"a
tentative assumption
made in order to

draw out and test
its logical or empirical

consequences
"
An analysis is nothing more than
testing a hypothesis
.
Where do
hypotheses
come from
?
Analysts
Marketers
Everyone Else
at the Company
Everyone
in the business has
hypotheses
!
The trick is getting them
articulated clearly
.
What are your hypotheses?
I believe...
If I am right, I will...
[some idea]
[take some action]
Each idea can be added to a
hypothesis library
.
Google spreadsheet
Excel
uservoice.com
Sharepoint
Lotus Notes
Jira
Is the hypothesis
clearly articulated
?
To assess the
effort required
, you have to determine the
approach
.
When all you have is a
hammer
...
...all the world looks like a
nail
.
Flickr / justinbaeder
To be truly data-driven requires being aware of your
full tool belt
.
I believe...
If I am right, I will...
[some idea]
[take some action]
To test this, I will...
[tool/technology/approach]
What's in
your company's
toolbelt?
Web Analytics
Email Surveys
Voice of the Customer
Social Media Analytics
A/B (and MV) Testing
Focus Groups
Usability Testing
Secondary Research
It's not a
simple formula
.
But a formula can
guide the discussion
.
Likelihood belief is right
Likelihood change would occur
Likely scale of impact
Alignment with business goals
Effort to test (approach)
Driving action requires
effective communication
of the results
The data does not
speak for itself
.
Lead with a statement of the
business problem
.
Follow with the
answer
and the
recommended action
.
Do not
show all of your work
!
And then track
to
action
.
We tested...
As a result, we...
[the idea]
[took the action]
Resulting in...
[quantified result]
Learning means
looking beyond
the near-term action.
Hypothesis tested
Action taken
Deeper learning
Hypothesis tested
No action taken
Hypothesis tested
Action taken
Hypothesis tested
Action taken
Deeper learning
Hypothesis tested
No action taken
Deeper learning
Hypothesis tested
Action taken
Hypothesis tested
Action taken
Monthly/Quarterly Review
With the ultimate goal of...
...reorienting the business to a culture of
validated learning
.
A.D.A.P.T.
to
Act
and
Learn
We have a lot of stuff.
Let's do some
mythbusting!
Sounds like a great idea. Let's get to it!
That was soooooo cool!!!
Yeah. It was. So, what did we learn?
Well, the explosion shot debris as high as 22' in the air!
So, how do we call it? Busted, plausible, or confirmed?
Um. What was the myth we were trying to bust?
Oh. I guess we didn't really have one. We just came up with a cool idea.
And we measured it! We measured the height of the debris!
That's right. So: busted, plausible, or confirmed?
Hmmm. I don't know. I guess that doesn't really tell us anything.
Shoot! I didn't bring the decibel meter. We didn't measure how loud it was.
Well, I guess we can't call the myth busted or not.
I guess not. Tune in next week, folks! We'll do it again!
What about the noise? Maybe how loud it was would tell us something.
Analytics Process Management
Social Media Analytics
What analysts say to marketers
What
are your
KPIs?
Web analyst since 2001
"Gilligan on Data" since 2007
Digital analytics consultant
since 2013
Tim Wilson (@tgwilson...for "multi-taskers")
Full transcript