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So You Call Yourself an Analyst? Part 3: Less Talk, More Do Posted: 13 Oct 2010 02:02 PM PDT Posted by JoannaLord Alright fellow data crunchers, you ready for the final post in our three-post series, "So You Call Yourself an Analyst?" I was really hoping to get this post up last week but instead I was putting the final touches on our new affiliate program (more on that very soon)! For those of you that missed Part 1 or Part 2 of this series, I suggest checking those out before reading this one. In Part 2, we outlined ways to analyze the data for valuable insights. We walked through GA features, as well as strategies to help you prioritize your analysis efforts. We should all be sitting here with tons of great data just waiting to be used. Assigning Value to the Data So what do we do now? Buy ourselves a pumpkin spice latte, and call it a day? No, no, no. It's our job to take all of this data and figure out how much we are making (or not making) from our efforts. We can begin to create options based on data to help steer our companies down a more profitable path. By assigning value to the data you are now speaking a language everyone understands--money. You need to explain the current situation in dollars. Too often analysts show up to meetings with great data but they explain it in weekly increases or decreases. This can be hard for people to conceptualize. Instead translate the data into actual dollars. I find the value per visit (VPV) metric to be one of the most overlooked calculations an analyst can use. Let's roll through an example;
Now that we have the value nailed down, we can move onto my favorite part--taking action. Yup you read that right...it is your responsibility to hand the rest of the company with suggested "next steps" {mind explodes!} You should be saying, "Here are my suggestions for increasing traffic to this page..." and list a number of referring sources for PR to work on, or give a handful of keywords for your SEO to target, etc. These are things you can suggest based on the numbers. You can have confidence that you are suggesting smart moves for your company. That is what this was all for friends. As analysts we aren't just tasked with making sure everything looks okay, we are also expected to find ways to improve. If you aren't walking away from the data with action items you can get started on, you shouldn't be walking away from the data. Well that about wraps it up for this series folks. I hope I have helped some of you reevaluate your current analytical process. I know it all seems like quite a bit of work, but trust me when I say time invested in analytics is well spent. Hopefully this series has given you a roadmap to follow, and at the very least motivated you to log in, check it all out, and start analyzing. Want to start from the beginning and check out Parts 1 & 2? Here they are:
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