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The 10/90 rule Avinash Kaushik
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Avinash Kaushik in his blog proposed the 10/90 rule. [1] According to him, many large companies that have invested in web analytics tools still struggle to make any meaningful business decisions. Apparently, there is a no dearth of data that is collected via these web analytics tools for these companies. However, the caveat here is that there is no real useful information that is being analyzed from these data. In other words, there are not sufficient people with expertise in these areas working on these web analytics tools for these companies to make any meaningful suggestions from the data for the companies to implement and in return increase their profits or whatever they are trying to achieve/gain. The 10/90 rule suggests that for every $10 invested on web analytics tools, $90 should be invested on web analysts by the company to be able to expect positive results on their investment on web analytics tools. Primarily, the data collected from such web analytics tools is useless unless an expert is analyzing that data. It is the web analyst that is critical for the success from the ...
10/90 rule states that for every 10$ of your expenditure on the web analytics tools you are spending for the analysis of data you need to spend 90$ on the highly competent business intelligent resources and analysts.
After reading Charlotte’s Web by E.B. White, a story of a little girl named Fern, her young friend Wilbur, and Charlotte. One of the quote from the book that triggered my interest was after Mr. Arable had given the pig to Fern, and she stated “Oh, look at him! He’s absolutely perfect.” This quote got my attention, because people look at things differently, and have different values. Mr. Arable saw Wilbur as an inconvenient pig due to his small size, so Mr. Arable wanted to rid of Wilbur before he causes trouble. However, Fern strongly believed that Mr. Arable was injustice by determining Wilbur’s fate just because of his mere figure. She believed that Wilbur’s life is just more than a pig, and should be given a chance. After several debate Mr. Arable gave in, and decided that Fern will take care of Wilbur instead and see the troubles he brings.
Google Analytics data collected on behalf of Peg and Kris, LLC for the company’s website domain, www.pegandkris.com, suggests that the company needs to change its current online marketing plan (Google Analytics, 2016). Weaknesses revealed by the data included overall low sales conversions, insufficient sales from social media and email campaign groups, and an usually high amount of sales conversions occurring on a desktop computer despite a larger number of visitors from mobile devices. Strengths included a sufficient number of visitors to the website and decent purchasing behavior from return customers (Google Analytics, 2016).
Kristy May, the company’s CEO and the individual who will be leading the project, estimates that the probability of implementation is 99% (K. May, personal communication, September 23, 2016). Google Analytics is a free and easily accessible tool (Warner, 2015). Therefore, the only costs associated with the project will be the time required to understand and implement a well designed Analytics Program (Warner, 2015). May believes the opportunity costs associated with her time is well worth the potential payoff for the company (K. May, personal communication, September 23, 2016).
The day to day process of managing a small company comes in a natural manner to nearly every business manager, however, expanding, sustaining and tracking the company’s website can be an overwhelming task [3]. A number of questions may arise, for example, How do I target the right audience? How can I drive sales in a particular region? Why do I see many hits and little sales? [3].Google has come up with a list of clarifications to these problems with free web analytics service known as Google analytics, which can be used to utilize online business efforts and campaign and turn the
In this audience analysis, I have addressed a situation in which I am called on to present quarterly sales information at an in-person meeting to a group of stakeholders, including managers, salespeople, and customers. I will explain how I will address the communication to this audience by answering the following questions: (1) What characteristics of the audience must I consider?, (2) What communication channels are appropriate? (3) What are some considerations to keep in mind given the diversity of the audience?, and (4) How would I ensure that my message is effective?
Over the course of my observations of McComas Gym’s weight room, it was easy to figure out what type of audience would be interested in my essay. Based off this audience, I developed a persona who represents the weight room community by combining many of the characteristics I observed in individuals in the weight room. My developed persona is an ideal representative of an “insider” to the weight room community, as well as a representative of my essay’s audience.
Audible.com is the leading online audio entertainment and information service. It sells audio content like audio books, lectures, print publications, audio editions, performances, speeches, study material, as well as other audio. The firm has more than 144,000 hours of audio content from at least 530 content partners with more than 40,000 titles. All the content is available for computer playback, burning to audio CD and listening using portable music device. The firm uses its Audible manager software in downloading, scheduling, managing and playing audio selections. The manager software also allows customers to listen and download spoken content and transfer to Audible Ready players. The firm is the exclusive provider of digital content. This essay analyzes Audible.com
Adelman, P. J., & Marks, A. M. (2010). Entrepreneurial finance. (5 ed.). Bedford, Texas: Prentice Hall.
Companies have transformed technology from a supporting tool into a strategic weapon.”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions."(Davenport, 2006) Data is compiled to enhance business practices. When samples are taken, they are used to examine research and understand how to solve problems or why situations are as they are. Furthermore, in this article, Thomas Davenport discusses analytics from a business standpoint. He refers to organizations that have been successful in their usage of data and statistical analysis. In addition, he also discusses how data and statistics can be vital in the efforts to improve the operations of businesses.
Now days, companies are searching for new ways of gathering data so that they can get useful data in order to make well informed decisions regarding the market they are operating in. Google analytics is considered one of the best tools offers extensive amount of data to business owners for free. However, the success of business is highly depended on how well they can arrange data and customize their collected data corresponded to their business priorities. Google analytics provides beneficial information for companies regardless of their extent of operation.
In today’s society, technology has become more advanced than the human’s mind. Companies want to make sure that their information systems stay up-to-date with the rapidly growing technology. It is very important to senior-level executives and board of directions of companies that their systems can produce the right and best information for their company to result in a greater outcome and new organizational capabilities. Big data and data analytics are one of those important factors that contribute to a successful company and their updated software and information systems.
First of all, business intelligence analysis requires the capturing of information and storing in a single location for effective data analysis. Currently, data analysis is supported by transactional systems, business specific data marts, and other ad-hoc processes. Information is distributed making it difficult and time-consuming to access. Business teams have adapted to this environment by creating user maintained databases and manual “work-arounds” to support new types of reporting and analysis. This has resulted in inconsistent data, redundant data storage, significant resource use for maintenance, and inefficient response to changing business needs.
Customer Relationship Management (CRM) is another field where A.I. is used. There is no doubt that the internet has changed the way that businesses and corporations interact with their customers, and A.I. helps by offering a myriad of data about the customersuch as their demographics and purchasing history. A.I. offers analytics in real-time, greatly benefitting the company as it works to improve its marketing and ultimately its profits.
...at to expect from our society and consumers is very key in the business world. With business intelligence and Data Mining strategies and skills, companies can have that extra competitive edge which will in turn increase profits and market share. The skills gained by those employees who specialize in the BI and DM fields will continue to be top-notch assets to companies and based on the salary trends, they will continue to have increasing compensation. Businesses that implement BI and DM effectively will dominate their markets and stay ahead of the curve.