Cult Of Analytics 2nd Edition Steve Jackson - Solutions

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12. (LO 1.4) Which type of analyst addresses questions regarding taxes and auditing?a. Marketing analystb. Operations analystc. Financial analystd. Accounting analyst
11. (LO 1.4) Which type of analyst predicts the amount of money that a company will receive from its customers to help management evaluate future investments based on expected investment performance, such as investments in equipment or employee training?a. Marketing analystb. Operations analystc.
10. (LO 1.3) A specialist who knows how to work with, manipulate, and statistically test data is a:a. decision maker.b. data scientist.c. data analyst.d. decision scientist.
9. (LO 1.5) Which term refers to the combined accuracy, validity, and consistency of data stored and used over time?a. Data integrityb. Data overloadc. Data valued. Information value
8. (LO 1.5) Which questions help managers understand how to organize future shipments based on expected demand?a. What happened? What is happening?b. Why did it happen? What are the causes of past results?c. Will it happen in the future? What is the probability something will happen? Can we
7. (LO 1.5) Which questions ask why net income is increasing when revenues are decreasing, counter to expectations?a. What happened? What is happening?b. Why did it happen? What are the causes of past results?c. Will it happen in the future? What is the probability something will happen? Can we
6. (LO 1.5) Which questions seek information on the routing of products from Queretaro, Mexico to Chicago, United States in the last quarter?a. What happened? What is happening?b. Why did it happen? What are the causes of past results?c. Will it happen in the future? What is the probability
5. (LO 1.5) Which questions seek information about Tesla’s sales in the next quarter?a. What happened? What is happening?b. Why did it happen? What are the causes of past results?c. Will it happen in the future? What is the probability something will happen? Can we forecast what will happen?d.
4. (LO 1.5) Which phase of the SOAR analytics model involves finding the most appropriate data needed to address the business question?a. Specify the questionb. Obtain the datac. Analyze the datad. Report the results
3. (LO 1.5) Which phase of the SOAR analytics model addresses the proper way to communicate results to the decision-maker?a. Specify the questionb. Obtain the datac. Analyze the datad. Report the results
2. (LO 1.2) According to the information value chain, data combined with context is:a. information.b. knowledge.c. insight.d. value.
1. (LO 1.1) A coordinated, standardized set of activities conducted by both people and equipment to accomplish a specific business task is called a:a. business process.b. business analysis.c. business procedure.d. business value.
11 Go back to step 1. Rinse and repeat (this is a never-ending process improvement)
10 Define and implement actions you can take that permanently improve your website or define a new test hypothesis (if the previous one has failed).
9 Check statistical significance. This should be 95 per cent or better (see section 7.5, point 2).
8 Leave the test running for a full 7 days minimum. Depending on your site running the test for a full month may be wise (see section 7.5, point 3).
7 Set up a test with a simple control (the same site you’re trying to improve)versus your test (the item or items you think will improve things).
6 Do an A–A test on your control (see section 7.5, point 7)
5 Check your analytics to see if there is any evidence your hypothesis is correct(do your segments tell you there is a potential problem?)
4 Define a test hypothesis for your control experience and your test experience.
3 Define persona gaps in the user experience from the scores registered in the heuristic walk through you just did.
2 Based on your persona (see Chapter 6) heuristically walk through the website and score the results:– Score on considerations– Score on pain points– Score on trigger terms
1 Look at your analytics persona segments and find out which type has driven the most value
Are there warranties and guarantees? Any associated costs?
Are the installation instructions clear on the website
Does the system come home fitted? Is it manual installation? If so is it easy?
Are the brands used for the various items well known and trusted?
Can he connect his computer to the entertainment system?
Does the service work with HDMI sound and picture quality?
Do any free accessories come with the service that might help his wife come around to the idea?
Does the cost vary based on technology? If so how? If not is the price fixed or could there be hidden surprises?
Are there any options like hire purchase or leasing
What is the cost per year?
12 You’re now at an advanced level of analytics segmentation that few are using well. Practice and tweak your segments until you’re ready to start testing. Only by testing the segments in live environments can you really start saying whether your segments are correct.
11 Map your segments to your REAN points and integrate your persona profiles(section 6.6).
10 Flesh out your persona characters by matching either yourVan Welie method with the persona type and/or using the PA method. See also the template of examples at www.blackbeak.com/cult2/files.
9 Conclude which type of personas you need to create.
8 Determine whether the attributes are logical/fast (LF), logical/slow (LS), emotional/fast (EF), emotional/slow (ES).
7 List benefits and attributes of the product and service and categorise them as logical decisions, emotional decisions and whether the attributes are a fast or a slow decision.
6 Introduce the workshop concept to your team. Ask the following questions about your service to get the conversation started:(a) What is the best benefit of the product/service from the customers’ point of view?(b) How is this service/product completely unique?(c) Why would a customer buy from
5 Do your background research (as with point 1 above).
4 Read and understand section 6.4.
3 Score your website based on the scoring model provided (see section 6.3).
2 Develop a persona template (the Van Welie method) as shown in section 6.2.List the following:– Goals– Scenario– Tasks prior to taking action– Considerations and questions– Pain points– Trigger terms.
1 Define all the data sources you can get to help develop your personas. Include:A Demographic (age, gender, geography, work titles, CRM data, external data like Hitwise or comScore).B Psychographics (see section 6.2)C Market data.
If not what are the needs that really pain him/her the most?
If he/she is potentially defecting from one product or service to yours, what pains him about the current situation?
What makes the persona cry out in frustration?
What are the next four factors that need to be understood out in order to have a better idea of all the risks involved?
What is his/her first major concern about the product or service?
What does he/she need to find out?
How would the person do his/her research?
What specific methods are involved in reaching you (REAN – Chapter 2)?
How would they find out about the product or service?
What would be the typical way that the persona would know about your product or service?
11 Train your staff about the importance of data integrity and if possible ensure quality control by piggy backing on existing quality control methods. For instance if updating website content has a process can tagging be added to that process?
10 Implement and test the outcomes. Validate the data (see point 6 above) and setup alerts to monitor any fluctuations. If for instance uniques visiting your website on a Monday is 75 per cent lower this Monday than it was last Monday is there a tagging problem?
9 Do your technical audit. What tools do you need to add to fully track your website?
8 Make sure there is a method to record all the different variables you’re tracking. Either via documentation or if you’re using a tag management system via identified tag rules with a clear taxonomy.
7 Identify an individual whom you can trust to be responsible for data quality and integrity.
6 Validate the data integrity across all devices, operating system and browsers.(a) Is the data being recorded in exactly the way it should?(b) Is the data being allocated to the correct profile or account?(c) Do you have a way to upgrade the website without impacting data quality?
5 If you are tracking via beacons or tags select an appropriate tag management tool. It’s not good enough to simply put tags on your website manually any longer.
4 If you need to talk to a vendor send them a questionnaire (see section 5.9). If you’re using a free version how many of the questions in section 5.9 can you answer yourself? For the questions you can’t answer consult with a partner whom will in many cases offer free advice (in Google’s case
3 If there are tools missing identify free or paid tools that can solve your data problem.
2 For each data set list the tools you use to collect the data. Are there any tools missing?
1 Which of the following data sets applies for your business:(a) Clickstream data?(b) Experience data?(c) Ecosystem data?(d) Social data?(e) Big data
5 If the process is slow to start, ask the senior guys in the room specifically what they think would be useful to know.You could ask open questions like “Carol, what’s the hard part about your job? What do you want to know about the online part of your business? How could knowing something
4 Encourage questions by agreeing with the actor and help justify the question where possible. For instance if the question “What is the value of a download to our organisation?” was asked by a workshop actor, I’d answer with “Great question, by knowing the answer to that we can help
3 Give the actors a benchmark. 49 questions defined is the record I have had from a workshop. When I mention that you would be surprised how many workshop teams try to beat it. Most of them don’t (the average is 25-30 questions) but it really gets people going.
2 Write the questions down. When you start it off, write it on the flip chart.When someone else asks a question which hasn’t been asked, write it on the flipchart. This shows the people in the workshop that they are making progress and also helps to get them thinking.
1 Start off the questions. One I always ask is “Which source of traffic is best in terms of volume (number of visitors) and cost?” I then explain the thought process behind asking this question. I’d say something like “By knowing the answer to this question we’d be able to direct our
21 How do we know when something isn’t working on our website?
20 What are the top paths through our site?
19 How engaged are our visitors with our content?
18 What is best, getting people to buy direct or getting people to come back and buy?
17 What’s the average lead value?
16 What is the average response time for lead response?
15 How many leads become sales?
14 What is the value of a free download to ACME?
13 How many software download trials do we get?
12 What’s the most searched product or service on our site?
11 Do the registered users buy more than others?
10 Which landing page converts the best? (And why?
9 Which channels are overlapping – are reaching the same visitor/ visitors?
8 Where are our visitors coming from?
7 How many prospects make the purchase decision online but buy offline and vice versa?
6 How can we get prospects to buy?
5 Is it good or bad that the content in our site changes?
4 So what for instance was the best campaign channel to reach new customers versus old customers?
3 What kind of campaign worked in different environments?
2 Which channels are the most productive?
1 What is the best source of traffic in terms of volume and sales?
8 Create a graphic representation of the REAN model that can be shared via PowerPoint or email.
7 Develop the model into a mind map visualisation. I use Adobe Illustrator or Photoshop, but there are free tools such as MindNode1 and others to create your visualisation very quickly.
6 How do you get customers to consume again? List the top 10 on- or offline most important engagement or interaction points with current customers.
5 What are the actions you want people to take? List the top 10 on- or offline most important conversion points with potential customers.
4 List the top 10 on- or offline most important engagement or interaction points with potential customers.
3 List the top 10 on- or offline most important reach sources to this business.
2 Identify the activities they’re most focused on.
1 Identify a division (IE a product or service line) within your business.

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Cult Of Analytics 2nd Edition Steve Jackson - Solutions

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