Intro to Data Analytics
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The document is a presentation on data analytics, emphasizing its importance and the process of deriving actionable insights from data. It outlines the steps in data analysis: asking questions, defining success metrics, storytelling, and measuring outcomes while warning against data manipulation. Additionally, it includes practical examples, testing strategies, and encourages audiences to engage with data to inform business decisions.
Intro to Data Analytics
- 2. Raise your hand at any point Tweet us your questions: #IntroToData @peaziesocial @collcampus GOOD EVENING
- 3. I AM LEXI SYDOW I am in charge of data & insights at . But more importantly I am a data enthusiast, startup fanatic, artist, dancer and traveler.
- 4. WHAT DO YOU KNOW ABOUT DATA?
- 5. 2,500,000,0 00,000,000, 000 2.5 Quintillion Bytes of Data are created each day
- 6. WOAH.
- 7. LET’S THINK OF IT IN TERMS OF
- 8. 33,333 times - - - - - - - - - - - - - - - - - - - - -
- 9. MASSIVE.
- 10. 90% Data created in the last 2 years 40,000 Googles every second 204 MILLION Emails are sent every hour
- 11. That’s why analytics are so important
- 12. But don’t worry, we’re looking at the micro level.
- 13. LET ME TELL YOU A STORY Journey to loving data
- 14. WHERE DID THIS ALL START? The homeland The Residence - - - - - - - - - - - - - - - - - - - - - - -
- 15. A NATURAL NEED
- 16. FROM GUESS WORK TO DEFENSIBLE FINDINGS
- 17. 100% ALL NATURAL
- 18. WHAT IS DATA ANALYTICS? Let’s start with some examples
- 19. Data Analytics is taking collections of information, deriving insights and provoking action.
- 20. THIS ACTION CAN BE: ● Change in marketing channel ● Prioritisation of product changes ● Documentation for client services ● Business model pivot
- 22. Female, 22 Carpenter 3 hours on email Male, 65 Grandpa Facebook user Male, 43 Teacher 1 hour Twitter INFORMATION
- 24. ACTION m
- 25. EXAMPLES OF DATA
- 26. Data on your daily habits to assess for improvements and adjust actions next day
- 27. LET’S LOOK AT DATA IN THIS ROOM Name Gender Personal Contact? Personal Email? Date Created Time Created Name Email Time Created
- 28. HOW WOULD I ANALYSE THIS? 58% Female I know ⅓ 50% Personal Emails
- 30. WHAT ACTION WOULD I TAKE? 1) Change Ad Imagery to cater to women or to attract more men 2) Content - business & personal examples 3) Leverage Personal Networks 4) Leverage EDM’s from partners
- 31. CAN YOU THINK OF ANY OTHERS? 58% Female I know ⅓ 50% Personal Emails
- 33. THE PILLARS OF DATA ANALYTICS: INFORMATION INSIGHTS ACTION
- 34. THE END GOAL IS ACTION
- 35. HOW DO I USE DATA? And other questions you should ask yourself
- 36. WE RECOMMEND A SIMPLE PROCESS 1) Ask a question 2) Define & Find 4) Tell a Story 3) Identify & Measure
- 37. ASK A QUESTION Are my Facebook ads bringing in quality traffic to my website? “ ”
- 38. DEFINE & FIND DEFINE: What indicates success? FIND: A variable representing that success.
- 39. DEFINE & FIND DEFINE SUCCESS: People clicking the ads and going to our website FIND THE METRIC: Website Click-Through- Rate
- 40. DEFINE & FIND
- 41. IDENTIFY A TOOL & MEASURE IMAGE OF FACEBOOK ADS MANAGER
- 42. TELL A STORY We had a low wCTR, meaning we had few people viewing. Something was off with our ads. We need to adjust the copy, the imagery or the action we’re directing. “
- 44. RESULTS wCTR: 0.79% 0.65% CPwC: $1.09 $1.45
- 45. YOUR TURN : SELECT A BUSINESS QUESTION 1) Ask a question 2) Define & Find 4) Tell a Story 3) Identify & Measure
- 46. CARDINAL RULE: Don’t manipulate data to what you want to see. Let it tell YOU the story.
- 47. Coffee drinkers like the house blend best according to a survey of Uni students at Cafe Lexi in the CBD.
- 48. PURCHASES BY COFFEE PATRONS AT CAFE LEXI
- 49. BUT WAIT A few things are happening here: 1) Uni students… a) CAFFEINE b) Not seasoned coffee drinkers 2) What does Purchase indicate? a) Preference OR b) Budget 3) Marketing a) In store display b) Promotions
- 50. HOW DO I KEEP FROM BIASES? 1) Write out multiple stories or questions 2) Write out all variables that could affect what you’re measuring 3) Tell a story & work with people
- 51. HOW DO I GET STARTED USING DATA IN MY COMPANY? Let’s put it into practice
- 52. MAKE A PLAN OF QUESTIONS
- 53. - What marketing channel is the best for me? - Why is my website getting signups? why not? What can i do to change that? - Which financial model is my best choice? - Which product is resonating best with my audience? SUCH AS:
- 55. - Click Through Rate - Cost Per Click - Total Reach - Test Image - Test Copy - Test Target Market
- 56. - Open Rate - Click Through Rate - Test Subject Lines - Test Timing - Test Content
- 57. - Traffic to website - Signups - Timespend - Prioritize budget on channels
- 58. - Customer sentiment - Customer preferences - Demographic information - Daily tracking - Creating new metrics
- 59. WHAT SHOULD I KEEP IN MIND?
- 60. CASE STUDY
- 61. TESTING Ad 01 Ad 02
- 62. TESTING ● Multiple ads in 1 ad set ● Test only 1 variable from your control ● Same budget ● Same testing time-frame (1 week)
- 63. TRACKING
- 64. ASSESSING QUALITY Ad 01 wCTR: 0.93% CR: 6.35% Ad 02 wCTR: 0.76% CR: 15.94%
- 65. QUESTIONING WHY Why did Ad 1 have a higher click through rate but a lower conversion rate? - e.g. more people clicked the ad but fewer entered the website from that ad
- 68. Ad 01 wCTR: 0.93% Conversion Rate: 6.35% Ad 02 wCTR: 0.76% Conversion Rate: 15.94% INSTEAD:
- 70. KEY TAKEAWAYS ◇ Data is a story ◇ Start with a question ◇ Main goal from data insights is ACTION ◇ Presenting data to a boss? a client? your mom? Less is more
- 71. ANY QUESTIONS? You can find me at @lexisydow lexisydow@gmail.com linkedin.com/in/lexisydow You can find Collective Campus at @collcampus collectivecampus.com.au
- 72. CREDITS Special thanks to all the people who made and released these awesome resources for free: ◇ Presentation template by SlidesCarnival ◇ Icons by flaticon
- 73. THANKS FROM COLLECTIVE CAMPUS ◇ To say thanks for coming, we’re giving you $50 off a workshop at Collective Campus. ◇ Simply check out next time you’re booking a workshop with coupon code I2DA50.