Some people would ask, as a data scientist are you upset that the data actually failed you. Not really. Because I know in data science gaining insights from data is a combination of what the data tells you as well as a business person’s intuition and experience. It is a failure to rely too heavily on one or the other. You need to question everything. The data as well as our cognitive biases.
What does your data do for you? Does it have a real impact?
If we want to see your data impact trends, then we need to look at metrics rather than just tracking data. The thing is that we have to track the data to produce the metrics. But it’s seeing the trends in metrics that really drives business outcomes and behavioural change .
Charting an end-to-end revenue cycle
When we chart intermediate conversion steps through the end to end revenue cycle, we can see trends that help us with improving the overall sales process. Regardless of stage or team that is interacting with the prospect.
Do you track Customer Lifetime Value? What do you do with the info?
Customer Lifetime Value helps us understand a typical customer journey. Watching trends, or deviations from trend, can highlight points in time to improve engagement. Improving the value we both give and gain.
Are viral moments made or created?
I know people put a lot of energy into trying to create viral moments. And for some it does work – Gangnam Style. But maybe the approach that works better is to put a lot of good stuff out there, see what sticks. Then capitalize on that.
Autumn’s lessons. Track your efforts, celebrate your harvest.
In the pre-industrial days when people were more in tuned to agricultural practices where you could literally see the fruits of your efforts better. Farmers focused on all the tasks that needed to get done to insure a great harvest. In the end, it wasn’t doing these tasks that they celebrated. They celebrated with feasts where they shared and consumed all the great foods produced.
