Your Roadmap To Thriving In An Analytically Driven World
Long gone are the days when analytics only came into play at the output of the work, once everything else was in place and finalized. We live in an analytically driven world, and that means thinking of analytics as an ongoing process — one that starts at the very beginning. Tandem Theory’s analytics methodology starts with the endpoint in mind to find the gold in data chaos. In doing so, we can quantify a return on investment (ROI) and incrementality to optimize the marketing budget.
Whether you’re just starting out creating your marketing ecosystem or you already have a well-defined system in place, every decision you make should be driven by analytics to allow for continual refinement and optimization. When performed properly, this approach will allow you to do more with less, offer greater applicability of test-and-learn strategies, and enrich the data set to gain deeper, more impactful insights.
Here are 5 steps to put you on the road to analytical success:
Before beginning any onboarding process, you’ll first need a proper documentation infrastructure to capture information, make it available to stakeholders and socialize it as you glean further insights. Naturally, conversations will evolve with time, but this will provide a construct from which to begin documentation and intelligence gathering. It will also ensure that the analytics team will be part of the discussion from the start with assigned accountabilities from the get-go.
Tip - Create a central place to capture and socialize all information and make it available to the stakeholders who need it.
How can you fill gaps without first understanding where and why they’re occurring? Before performing any development or analysis, we review the current marketing ecosystem to understand gaps and identify the solutions and opportunities that would allow for an optimal, analytical driven ecosystem.
Tip - Perform stakeholder interviews with key teams to build an opportunity matrix that will allow you to identify what is working and where opportunity lies. Remember to ensure the ecosystem has these fundamental properties:
3. Data Profile
This stage of the onboarding process is all about comparing the current data ecosystem against the results of an exploratory data analysis. Here, critical data insights will emerge and specific data elements that need attention can be flagged. Ultimately, this detailed analysis and documentation of the current data infrastructure will provide the foundation for your design strategy going forward.
Tip - Document the core data requirements necessary to identify specific project objectives.
After the data profiling stage, the team should produce an initial development plan for two key areas of any marketing platform: campaign mart, which focuses on data requirements to execute and manage communications, and analytical mart, which focuses on the non-personally identifiable information (PII) variables required to support the insights.
Tip - Provide the core construct of the analytics environment during this phase of the process. Although these design documents will be reviewed and iterated upon, the design of a thorough metadata and taxonomy strategy should be in place — one that can evolve with development.
Focused on the analytics environment and driven by our desire to experience more effective marketing communication strategies, we will build all the key data integrations required to support our analytical promise. Throughout this phase and as a part of ongoing data maintenance and strategy, we practice data stewardship. You can think of data stewardship as automation’s supervisor — we automate for efficiency, but continue to monitor data health, quality, and consistency to proactively manage the data processes we have in place and maintain short- and long-term effectiveness of our data.
Tip - Build your analytical platforms with speed and availability in mind. What good is data if it’s not readily available and reliable? Ensure that your data is readily accessible, you have a reporting process in place to guarantee 100% excellence, data pipes and transformations are consistent, and all integrations are included in the analytics environment.
Our analytics approach and methodology starts with a solid foundation, yet is always iterative and continually optimized for impact and efficiency. The sooner you understand that we live in an analytically driven world in which analytics comes first, not last, the sooner you can expect a more insightful world for your business and that of your clients.
To learn more about how our analytics capabilities can help you find gold in data chaos, send an email to email@example.com.