A: It is absolutely imperative to use analytics to measure the effectiveness of your online communications efforts, especially in today’s fast-paced and hyper competitive market. Companies who have the tools to understand and analyze their consumer markets on an ongoing basis will ultimately make quicker, fact-based decisions that will positively affect their bottom line.
Using analytics allows companies to be much more efficient, not only in their decision-making process, but also in discovering evolving trends and potential problems/opportunities that should be addressed.
Q: What are the some of the emerging trends in managing analytics?
A: One of the most significant trends for many Fortune 500 companies is the fact that a lot of executives are moving away from a swift, instinctual type of decision making process to a much more informed way of assessing their companies best possible solutions to a given problem.
One way in which Stone Ward is meeting this need for clients is through the development of Executive Dashboards. These advanced analytical reports allow decision makers to efficiently see the Key Performance Indicators (KPIs) that truly drive their business, allowing them to reach their strategic goals. Ultimately, delivering actionable and impactful measurement to the client is of the upmost priority.
Q: How do you assist clients in managing and measuring their analytics?
A: I’ve found that the most effective way of managing analytics for clients is to develop a Best Practices for Good Measurement. Developing a Best Practices guideline incorporates all the necessary methods of confirming a high level of data integrity, accuracy, accountability, and integration with other data, all which leads to the achievement of the client’s strategic measurement goals.