The 10/90 Rule:
Our Goal: Highest value from Web Analytics implementation.
Cost of analytics tool & vendor professional services: $ 10.
Required investment in “intelligent resources/analysts”: $ 90.
Bottom-line for Magnificent Success: Its the people.
How is 10/90 rule used?
The 10/90 rule is postulated based on the fact that companies that could buy one of the best tools still struggle to get actionable insights. Obviously, there is a gap between data and actionable insights, and the bridge is analytics. It is about finding the reason for what we see. The 10/90 rule states that for every $1 you spend on a web analytics tool, you should be spending $9 on the people to analyse the numbers, or the data would not be fully utilized. The …show more content…
Bottom line for Achievable Success: It’s the process.
The 10/20/70 rule updates the 10/90 rule in two aspects:
The 10/20/70 rule takes the extreme rate of available talents to the number of jobs currently open in the market today into consideration. Especially for web analyst, people competent to this position should be planet-brained, have much experience in web analytics projects, and know what is going on in real world.
The 10/20/70 rule expands area where the 10/90 rule applies, the 10/20/70 rule states how a percentage of time should be spent on analytics tools and analysts respectively. You can always make more money, but it is hard to make more time. Why it has sound foundations in actual implementations?
The value of data is declining.
Websites are massively complex, and although tools can capture all that data, they don’t actually tell you what to do. A tool could produce as many tables and charts as possible, but can’t offer insights and recommended actions, and the most importantly, the impact on the business if the actions are taken unless you got bright …show more content…
Google Analytics’ appearance creates a massive data democracy. The selection of analytics tools is expanding dramatically, and the update speed of analytics tools is getting faster. No one can predict how the world will be in three years, so buy a tool today that can serve one’s needs along that two- to three-year horizon. The best analytics tool for a company is the one that could satisfy the requirement, not the one that is the most expensive or the biggest.
Besides, the data collected from web analytics tools is never 100 percent accurate. Much of this has to do with how the analytics tools work. In this case, critical role of savvy personnel in regards to data analysis becomes more evident. A strong culture of data will include both the numbers and the people-generated actionable insights.
Analytics- most challenging
Our Goal: Highest value from Web Analytics implementation.
Cost of analytics tool & vendor professional services: $ 10.
Required investment in “intelligent resources/analysts”: $ 90.
Bottom-line for Magnificent Success: Its the people.
How is 10/90 rule used?
The 10/90 rule is postulated based on the fact that companies that could buy one of the best tools still struggle to get actionable insights. Obviously, there is a gap between data and actionable insights, and the bridge is analytics. It is about finding the reason for what we see. The 10/90 rule states that for every $1 you spend on a web analytics tool, you should be spending $9 on the people to analyse the numbers, or the data would not be fully utilized. The …show more content…
Bottom line for Achievable Success: It’s the process.
The 10/20/70 rule updates the 10/90 rule in two aspects:
The 10/20/70 rule takes the extreme rate of available talents to the number of jobs currently open in the market today into consideration. Especially for web analyst, people competent to this position should be planet-brained, have much experience in web analytics projects, and know what is going on in real world.
The 10/20/70 rule expands area where the 10/90 rule applies, the 10/20/70 rule states how a percentage of time should be spent on analytics tools and analysts respectively. You can always make more money, but it is hard to make more time. Why it has sound foundations in actual implementations?
The value of data is declining.
Websites are massively complex, and although tools can capture all that data, they don’t actually tell you what to do. A tool could produce as many tables and charts as possible, but can’t offer insights and recommended actions, and the most importantly, the impact on the business if the actions are taken unless you got bright …show more content…
Google Analytics’ appearance creates a massive data democracy. The selection of analytics tools is expanding dramatically, and the update speed of analytics tools is getting faster. No one can predict how the world will be in three years, so buy a tool today that can serve one’s needs along that two- to three-year horizon. The best analytics tool for a company is the one that could satisfy the requirement, not the one that is the most expensive or the biggest.
Besides, the data collected from web analytics tools is never 100 percent accurate. Much of this has to do with how the analytics tools work. In this case, critical role of savvy personnel in regards to data analysis becomes more evident. A strong culture of data will include both the numbers and the people-generated actionable insights.
Analytics- most challenging