By Vinod Kumar
Effectively leveraging the data you have to make better business decisions can be a challenge. Because of this, many retailers look to analytics frameworks to help connect the dots. These frameworks can present data in a variety of forms, encouraging you to think about that data in different ways. This, in turn, can help you translate that information into actionable insights.
Why is this important? In many cases, KPIs need to be viewed in context of one another to determine what action is required to improve business performance. In a practical sense, think of analytics frameworks as a way to organize your dashboard so you can see your most important KPIs together.
There are a myriad of analytics frameworks, each of which can provide a different perspective on the health of your digital commerce business and suggest areas to focus on for improvement. In this blog series, I’ll take a look at 3 frameworks and apply each to measuring digital commerce. Review all 3 with your business model in mind, and feel free to tailor them to your specific needs.
And let me know if any of these frameworks helped your organize your data in favor of actionability.
Up first: Pirate Metrics.