There are 4 parts to effective analytics, according to Steen Rasmussen: Data, Action, Analytics, and Reporting. But there is a misalignment -- today many make the mistake of not using data to pull actionable insights. Steen recommends 5 rules for approaching data analysis and strategy with the right mindset: - Understand the strategic goals of the company - Ask open-ended questions - Understand the timeframe: focus on short-term or long term results? - Think outside the dataset - Understand the Underlying KPIs Steen Rasmussen is co-Founder at IIH Nordic, a digital agency focused on driving results through data-driven analysis. He has worked for 20 years as a consultant, trainer and keynote speaker and have specialized in activating data through Machine Learning and cloud to support specific commercial business objectives, and is a Google Partner Academy Program Trainer, where he trains, strengthens and improves other Google Partners Agencies in Digital Marketing, Search Engine Marketing, Analytics and Sales. This is a conversation about how to understand and analyze data to “activate” it and make decisions that impact revenue growth. In an environment that is in constant flux for digital marketers, Steen offers a thoughtful framework to getting more from your data to actually drive growth.
HIGHLGHTS:
1:07 - Why data is like meat (hint: it spoils very fast)
5:52 - How historical data can be fine-tuned for your predictive model
13:50 - The future of personalization and ecommerce shopping experiences
23:52 - What Steen recommends for KPIs to track for ecommerce brands
31:10 - How to balance short term gains with long-term user