For all the primaries and caucuses, there is one thing in common; the numbers and analytics matter! With so much information available and many tools to gather it, it is becoming more important than ever to translate that into a meaningful, powerful action plan. I believe the very best two groups of people that get the most benefits from predictive analytics are politicians and web analysts.
If you happen to watch CNN lately, you would have realized that just after the polls are closed, they start providing all the statistics, either from entry or exit polls, from the surveys they do, and the opinions of experts analyzing the numbers… and in couple of hours amazing things happen, analysts interpret the numbers, results and come up with a resolution regarding the outcome and the candidates already know what is the direction that they will follow until the next primary.
So, the main thing out of that primary is not just who won, but also why he or she lost so that they can adjust the campaign and plan their road map to get more votes in the next one! Moreover, it is so obvious that the text of the candidates’ speech is prepared just after analyzing the outcome. So, they know how many votes they can get from each channel, from each socio-economic group, from each segment so to say, and they have a formula to come up with the expected number of vote they may get on the next one based on the performance of each element/segment.
Avinash explains the predictive analytics in his blog recently, and gives a very good example of which elements affect the outcome of website conversion rate. The aim of web analytics is of course to understand how the website is performing and come up with actionable items to improve the goal conversion obviously. The predictive analytics is extremely helpful exercise to understand what matters and moreover how much it matters to get a better result from your website. As a final note to wrap up Avinash’s example, he mainly points out the below items as the elements to predict the conversion:
- Acquisition strategy/channel (ppc, affiliate networks, social networks etc)
- Organic ranking of the head keywords
- Cart/check out complexity (which is very much highlighted by the people who comment to his blog as well)
- Primary purpose of the visit
so on... We continually invest in analytics and search passionately for better answers to increase the revenues and customer satisfaction as you do. Next week, we will launch the new sign-up page which is expected to have a significant positive impact on the conversion rate for all of us.
Please share your ideas, questions and comments with us. Thank you.