Data analytics: A matrix for better decision making.
A single data point isn’t all that useful for understanding how something works, but neither is a big pile of stats. Context is the key to making metrics actionable. But given all of the data and dashboards we’re dealing with, that process can be daunting. So how can you turn those numbers into something more — in an organized and thoughtful way?
In this article, Analytics Advocate Daniel Waisberg proposes a framework to help you go through the data analysis process. Using a matrix called TITE (time, interactions, trends, and events) you will be able to transform data into a meaningful story in a structured way.
Make your data actionable.
Context helps marketers make better decisions by drawing conclusions that are more meaningful and accurate. The TITE matrix will assist you to create context around data to gain deeper insights and understand which actions should be taken using the data.
In this article you will learn more about the following techniques:
- Compare data points over time to surface how the company’s performance is changing
- Review all customer interactions to make sure all touchpoints are being measured and reported to get a full view of the customer
- Check in on industry trends so you can see how your company’s increases and decreases align with the averages
- Be aware of industry events that can have an impact on your business