Hacking Growth by -

Taking a Data Dive

Taking a Data Dive
There is more data available to growth team than ever before, but all this data is essentially useless without the ability to parse it for useful insights. What that means is that it’s not about simple reviewing data provided by the various tools and dashboards out there; to uncover what makes (or will make) your product must-have, you need to collect the right data for your business, and build the connective tissue between various sources, such as your email marketing database and your point of sale system, so you can create a complete data picture. 

Then you need a data analyst who can mine those sources of data for patterns and rich insights that can lead to growth ideas to experiment with. These days most companies, even the most nascent, shoestring start-ups, are keeping close track of basic analytics for their websites and products, such as those captured by Google Analytics. 

But while metrics like page views, visits, and bounce rates are important to collect, they barely begin to tell the whole story about how customers interact with your product. That’s because these are very surface level metrics that don’t tend to reveal deeper insight into what customers truly value about what you are selling and whether you have achieved product/market fit. 

It’s essential that your team have data on each piece of the customer experience, well beyond just how often they visit your website and how long they stay there, so that it can be analyzed at a granular level to identify how people are actually using your product versus how planned for them to use it. 

Written by Bookcademy.

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Today's Challenge

Finish the sentence: “Data is essentially useless without… “

Score: 10pts

1

Understand how to apply it

2

A Data Analyst

3

The ability to parse it

4

The tools for analyze it

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