Presented by Edward Upton, this talk covers analytics techniques and preparation for businesses of various sizes.
Edward's background is working as a product manager and analytics consultant, helping companies such as MADE.com, Tutorfair and TheTalentManager implement data-driven strategies and instilling product-improvement culture at other start-ups.
LittleData is a consultancy firm providing expert analytics advice and custom web analytics setup, along with free reports that turn Google Analytics data into summarised and actionable newsfeeds.
Check out our upcoming events at http://blog.littledata.co.uk/analytics-technology-speaker-edward-upton/
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Measure. Improve. Repeat. How to use data to continuously improve what you sell
1. Measure
ImproveRepeat
How to use data to continuously improve what you sell
Edward Upton, Founder of LittleData.co.uk
@LittleDataUK
2. Why measure?
• Every business wants to improve their sales
and profitability
• How do data-driven companies do this, and
do it at pace?
• How can you use similar techniques in your
company?
3. Douglas Bowman, ex-head of Visual Design,
Google (2009)
“A team at Google couldn’t decide
between two blues, so they’re testing
41 shades between each blue to see
which one performs better... I can’t
operate in an environment like that.”
4. Data makes big profits for Google
“We saw which shades of
blue people liked the most,
demonstrated by how much
they clicked on them. Given
the scale of our business,
was that we made an extra
$200m a year in ad
revenue.”
Dan Cobley, Google UK (2014)
7. Decide what to measure
Ben Yoskovitz, author of Lean Analytics
“The One Metric That Matters
is about finding the right thing
to track at the right time,
based on the type of business
you're in”
9. Allows everyone to focus
Simplifies the tracking setup
Reduces the chance of silly calculation errors
Prevents arguments about whether an AB test really worked
Picking just ONE METRIC
10. Dave Brailsford, Head of
British Cycling
“Excellence
is the aggregation
of marginal gains”
11. Repeat, repeat
• Question: Would you prefer to increase your
sales by 3% a week or triple (3x) them next year?
Hint: 52 weeks in a year x 3% = 156% increase = 2.5x
12. 3% a week = 4.6x over the year
The miracle of compounding means tiny impacts made
every week stack up to huge achievement
Quicker is better
13. • Looking for small gains? You’ll need large numbers to
work with
• Before you start a test, plan how much data will be
needed to prove the point
• E.g
– Assume 2% of web visits into customer enquiries.
– You want to obverse an absolute difference of +/- 0.2%
– At 1000 visits that would mean a baseline of 20 enquiries
and 22 for the improved. That extra 2 conversions could
just be fluke
– 5000 visits would be the minimum for a sample – 100
enquiries baseline and 110 for improved
Small samples = dodgy statistics
16. • So you’ve set up your Google Analytics, and
are running continuous AB tests
• How do you track progress?
a) Take a glance at the chart when you have time
b) Copy metrics into a weekly spreadsheet for
comparison
c) Set up an automated export into Google Docs
d) Use a clever algorithm to spot the trends
How do you keep track?
17. • Our algorithms look for changes so you don’t
wade through hundreds of reports
• Soon to launch a tool to track AB tests more
easily
• Need a Google Analytics account with more
than 1,000 visits a month
LittleData saves you time
19. Get in touch
Edward Upton
CEO, LittleData
@eupton
@littledatauk
edward@littledata.co.uk
Notas del editor
Is he right or wrong?
“From Google’s data-driven perspective this made great business sense”
The technique Google used is called an A /B test
Split the web traffic randomly into two even groups, and show the standard version of the experience (i.e. purple-blue) and another an alternative B version (i.e. green-blue)
MEASURE which version converts more customers. The question is what to measure?
Web analytics prevents too many opportunities to measure the wrong thing
Working for a tutoring business last year our metric for product performance was conversion into paid customers
.. But marketing team was focused on buying cheap traffic from Bing.
They advertised for ‘Free English tuition’
How many of those do you think paid?
When asked on breakfast TV how the British team won so often. Result: 8 Olympic gold medals at London 2012
British Cycling improved everything from the athletes clothing to their bedtime routine, look for hard evidence of what worked