I recently read a research report from Babson Executive Education entitled "Competing on Analytics." While this isn't a new report and it doesn't focus specifically on Web analytics, I found a number of the points in it very interesting. They position analytics as a competitive strength across all industries.
Some of the points translate directly to Web analytics. In fact, many elements such as the need for executive support and the importance of data accuracy have been touched on in a number of these columns.
The research revolves around "fact-based decision making," using data to make smarter, more informed decisions. It touches on all business organizations, from financial services to professional sports teams. No matter the industry, it's clear that smarter decisions can be made when people are more educated through correct, accurate data.
I've often written about data driven organizations. My new book, Actionable Web Analytics: Using Data to Make Smarter Business Decisions has a few chapters dedicated to this topic. It is a common struggling point - how do you shift the way your organization makes decisions? Where do you start? Who needs to be involved? How do you do it? And what does it mean?
They identify several key attributes of companies successful in using and leveraging analytics to become more competitive in their industries. I found them interesting and on point, and wanted to add a few details to make them more specific to Web analytics specifically.
Attributes they identify include:
Take a look at the full report if you're interested, but also consider what it will take to shift your company's thinking and become a data driven organization where you can truly take advantage of the data.
Meet Jason at the ClickZ Specifics: Analytics seminar on May 2 at the Hilton New York in New York City.
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As the Chief Performance Marketing Officer for POSSIBLE, Jason supports the agency's global Marketing Sciences and Media Services programs.
His primary role is to help POSSIBLE teams and clients use data to craft digital strategies that attract, convert, and retain customers - maximizing ongoing ROI across paid, earned, and owned channels. He believes that brands can better serve their customers by understanding audience behavior, and that messaging should be targeted to individual customers through the use of testing, behavioral targeting, and CRM initiatives.
Jason has written extensively about digital analytics, optimization and digital strategy, including an ongoing column at ClickZ.com. He is the co-author of "Actionable Web Analytics: Using Data to Make Smart Business Decisions," which is one of the leading texts in the field of digital analytics. His client roster includes Microsoft, Nike, Nokia, Dell, Ford, Sony, PayPal/eBay, P&G, Alcoa, Expedia, Mazda, Intel, and Motorola, and more. Jason is a frequent speaker at conferences and seminars around the world ranging from the Cannes Lions, Adobe Omniture Summits, eMetrics, SES, ad:tech, BazaarVoice, and many other WPP events.
Follow him on Twitter @JasonBurby.
December 12, 2013
1:00pm ET / 10:00am PT