Occam's Razor

MAY 22, 2006

This post is a primer on the delightful world of testing and experimentation (A/B, Multivariate, and a new term from me: Experience Testing). Experimentation and testing help us figure out we are wrong, quickly and repeatedly and if you think about it that is a great thing for our customers, and for our employers. Counter claims?

Experimentation 103

Experimentation Testing Optimization Measurement 103

Occam's Razor

SEPTEMBER 15, 2014

But why blame others, in this post let's focus on one important reason whose responsibility can be squarely put on your shoulders and mine: Measurement. Create a distinct mobile website and mobile app measurement strategies. Media-Mix Modeling/Experimentation. Remember my stress earlier on measuring micro-outcomes?).

Metrics 143

Metrics Reporting Analytics Marketing 143

CIO Business Intelligence

OCTOBER 10, 2024

Still, a 30% failure rate represents a huge amount of time and money, given how widespread AI experimentation is today. If a project isn’t hitting the metrics, the teams can decide whether to dump it or give it more time. While Gersch recommends tying AI projects to business goals, she also encourages experimentation.

ROI 135

ROI Experimentation Cost-Benefit Metrics 135

datapine

FEBRUARY 4, 2020

Management thinker Peter Drucker once stated, “if you can’t measure it, you can’t improve it” – and he couldn’t be more right. Structure your metrics. As with any report you might need to create, structuring and implementing metrics that will tell an interesting and educational data-story is crucial in our digital age.

Reporting 280

Reporting Marketing Advertising Metrics 280

Occam's Razor

NOVEMBER 12, 2006

Mostly because short term goals drive a lot of what we do and if you are selling something on your website then it only seems to make logical sense that we measure conversion rate and get it up as high as we can as fast as we can. So measure Bounce Rate of your website. Is Real Conversion Rate metric a good one?

Measurement 99

Measurement Analytics Marketing Optimization 99

Corinium

JUNE 6, 2019

A properly set framework will ensure quality, timeliness, scalability, consistency, and industrialization in measuring and driving the return on investment. It is also important to have a strong test and learn culture to encourage rapid experimentation. What is the most common mistake people make around data?

Insurance 250

Insurance Analytics Forecasting Deep Learning 250

Occam's Razor

AUGUST 22, 2011

" ~ Web Metrics: "What is a KPI? " + Standard Metrics Revisited Series. Key To Your Digital Success: Web Analytics Measurement Model. " Measuring Incrementality: Controlled Experiments to the Rescue! Barriers To An Effective Web Measurement Strategy [+ Solutions!]. How Do I Measure Success?

KPI 125

KPI Metrics Measurement ROI 125

O'Reilly on Data

OCTOBER 13, 2020

Ideally, AI PMs would steer development teams to incorporate I/O validation into the initial build of the production system, along with the instrumentation needed to monitor model accuracy and other technical performance metrics. But in practice, it is common for model I/O validation steps to be added later, when scaling an AI product.

Management 250

Management Machine Learning Metrics Modeling 250

DataKitchen

APRIL 13, 2021

DataOps requires that teams measure their analytic processes in order to see how they are improving over time. A complete DataOps program will have a unified, system-wide view of process metrics using a common data store. Polyaxon — An open-source platform for reproducible machine learning at scale.

Testing 312

Testing Machine Learning Consulting Data Quality 312

The Unofficial Google Data Science Blog

APRIL 23, 2024

the weight given to Likes in our video recommendation algorithm) while $Y$ is a vector of outcome measures such as different metrics of user experience (e.g., Experiments, Parameters and Models At Youtube, the relationships between system parameters and metrics often seem simple — straight-line models sometimes fit our data well.

Experimentation 52

Experimentation Optimization Uncertainty Metrics 52

CIO Business Intelligence

MAY 1, 2024

Pilots can offer value beyond just experimentation, of course. McKinsey reports that industrial design teams using LLM-powered summaries of user research and AI-generated images for ideation and experimentation sometimes see a reduction upward of 70% in product development cycle times. What are you measuring?

Cost-Benefit 143

Cost-Benefit Metrics Insurance Measurement 143

Occam's Razor

OCTOBER 23, 2006

Start with measuring these Outcomes metrics (revenue, leads, profit margins, improved product mix, number of new customers etc). Get competitive data (we are at x% of zz metric and our competition is at x+9% of zz metric). Great for a couple months and then you lose the audience. 6 Reporting is not Analysis.

Data-driven 118

Data-driven Metrics KPI Reporting 118

Occam's Razor

MARCH 23, 2010

Too many new things are happening too fast and those of us charged with measuring it have to change the wheels while the bicycle is moving at 30 miles per hour (and this bicycle will become a car before we know it – all while it keeps moving, ever faster). It has simply not had a break to catch a breath and mature. Likely not.

Analytics 119

Analytics Consulting Metrics Experimentation 119

CIO Business Intelligence

OCTOBER 1, 2024

Measure everything Looking for ROI too soon is often a product of poor planning, says Rowan Curran, an AI and data science analyst at Forrester. Organizations rolling out AI tools first need to set reasonable expectations and establish key metrics to measure the value of the deployment , he says.

ROI 131

ROI IT Measurement Experimentation 131

CIO Business Intelligence

MARCH 28, 2023

As today’s great leaders recognize, true success is not solely measured by the bottom line but also by the impact a business has on its stakeholders, including employees, partners, and the environment. Here are some ways leaders can cultivate innovation: Build a culture of experimentation. Use data and metrics.

Experimentation 98

Experimentation Metrics Measurement Digital Transformation 98

CIO Business Intelligence

AUGUST 15, 2024

A virtual assistant may save employees time when searching for old documents or composing emails, but most organizations have no idea how much time those tasks have taken historically, having never tracked such metrics before, she says.

ROI 143

ROI Cost-Benefit Experimentation Deep Learning 143

Occam's Razor

SEPTEMBER 30, 2013

We'll start with digital at the highest strategic level, which leads us into content marketing, from there it is a quick hop over to the challenge of metrics and silos, followed by a recommendation to optimize for the global maxima, and we end with the last two visuals that cover social investment and social content strategy.

Marketing Analytics 156

Marketing Analytics Marketing Visualization Analytics 156

AWS Big Data

SEPTEMBER 5, 2024

Although the absolute metrics of the sparse vector model can’t surpass those of the best dense vector models, it possesses unique and advantageous characteristics. Experimental data selection For retrieval evaluation, we used to use the datasets from BeIR. We care more about the recall metric.

Metrics 111

Metrics Testing Experimentation Modeling 111

Occam's Razor

JULY 26, 2010

If today you are a content site that is only focused on measuring content consumed try to go deeper to understanding CPA of the ads or Visitor Loyalty. PALM: People Against Lonely Metrics]. So why not your metrics? This is the problem with lonely metrics. Never ever never never never ever present any metric all by itself.

Metrics 96

Metrics Measurement Dashboards Reporting 96

CIO Business Intelligence

NOVEMBER 13, 2023

Foster a culture of innovation: Digital transformation requires innovation and experimentation, and thus a culture for embracing new technologies and ideas. This involves setting up metrics and KPIs and regularly reviewing them to identify areas for improvement.

Digital Transformation 143

Digital Transformation Cost-Benefit Experimentation Measurement 143

Occam's Razor

JANUARY 7, 2014

The organization functions off a clearly defined Digital Marketing & Measurement Model. #1. They are generic mash-ups that tailor to almost no one's needs, and more often than not contain awful things like nine not-really-thought out metrics for one dimension in a report. You know what your Return on Analytics is!

Data-driven 142

Data-driven Consulting Reporting Marketing 142

Occam's Razor

AUGUST 10, 2006

Actionable Insights & Metrics are the uber-goal simply because they drive strategic differentiation and a sustainable competitive advantage. No more measuring HITS. This element of the Trinity exists to measure how well is the website doing in meeting the goal of its existence. Its goal is not to do reporting. A bit extreme?

Measurement 99

Measurement Experimentation Metrics Testing 99

Occam's Razor

OCTOBER 19, 2010

You'll measure Task Completion Rate in 4Q (below). You'll measure Share of Search using Insights for Search (below). Only a plea to obsessively obsess about measuring outcomes and compute economic value, not just revenue. Mongoose Metrics ~ ifbyphone. Experimentation and Testing Tools [The "Why" – Part 1].

Analytics 136

Analytics Testing Measurement Optimization 136

DataKitchen

OCTOBER 5, 2021

DataOps enables: Rapid experimentation and innovation for the fastest delivery of new insights to customers. Clear measurement and monitoring of results. Measure success. Process measurement – construct dashboards on every aspect of the data lifecycle for unprecedented process transparency. Low error rates.

Testing 162

Testing Dashboards Measurement Experimentation 162

Occam's Razor

FEBRUARY 28, 2017

To ensure customer delight was delivered in a timely manner, it was also decided that Average Call Time (ACT) would now be The success metric. The success metric, ACT, did go down. The qualitative surveys measuring unhappiness went down even more than before. Metrics matter. You are what you measure.

Key Performance Indicator 107

Key Performance Indicator Metrics Measurement Advertising 107

Occam's Razor

NOVEMBER 5, 2007

Five different sources of data, that require you to have multiple tools to measure success. Experimentation & Testing : Google Website Optimizer, Offermatica, Optimost etc. Neither measures what a traditional web analytics tool does, so no overlap, but each brings its unique strengths to the business of web data.

Analytics 98

Analytics Experimentation Metrics Measurement 98

CIO Business Intelligence

JULY 8, 2022

First, it’s a straightforward proposition whose end state is relatively easy to envision and measure, making it a nice palate cleanser for those still wrapping their heads around the broader operating model shift. Disadvantages.

Cost-Benefit 122

Cost-Benefit Measurement Modeling Metrics 122

Occam's Razor

AUGUST 13, 2012

Yehoshua Coren: Best ways to measure user behavior in a multi-touch, multi-device digital world. What's possible to measure. What's not possible to measure. We all have smart phones, laptops, tablets and soon Smart TVs – but most of our measurements are usually done in Cookies that are device/browser specific.

Modeling 125

Modeling Metrics Data Quality Data-driven 125

Occam's Razor

MAY 18, 2010

And as recently as two weeks ago I stressed the importance of effective segmentation as the cornerstone of the Web Analytics Measurement Framework. Key elements of the Web Analytics Measurement Framework.]. Apply on the relevant reports to measure performance using key performance indicators. The Problem. All visits.

Analytics 124

Analytics Key Performance Indicator Metrics Measurement 124

The Unofficial Google Data Science Blog

APRIL 16, 2019

by MICHAEL FORTE Large-scale live experimentation is a big part of online product development. This means a small and growing product has to use experimentation differently and very carefully. This blog post is about experimentation in this regime. Such decisions involve an actual hypothesis test on specific metrics (e.g.

Experimentation 68

Experimentation Sales Metrics Measurement 68

Occam's Razor

AUGUST 12, 2013

I strongly encourage you to read the post and deeply understand all three and what your marketing and measurement possibilities and limitations are. You can even use that column to adjust some of the budget allocation right now, without any attribution modeling, and measure the outcome. Then Experimentation. Then MCA-O2S.

Modeling 162

Modeling Optimization Marketing Interactive 162

Occam's Razor

JULY 1, 2008

3 ] Provide you with a bushel of specific multichannel measurement ideas to help quantify the offline impact of your online presence. Why should you care about measuring multichannel impact? There are many jobs your website is doing, it is your job to measure the holistic impact. Bonus Tip : But don't stop there.

Analytics 116

Analytics Measurement Marketing Sales 116

Occam's Razor

OCTOBER 21, 2013

This is a simple custom report I use to look at the aggregated view: As the report above demonstrates, you can still report on your other metrics, like Unique Visitors, Bounce Rates, Per Visit Value and many others, at an aggregated level. And of course our Acquisition, Behavior, Outcome metrics. Controlled experimentation.

Optimization 156

Optimization Reporting Metrics Experimentation 156

Occam's Razor

JULY 24, 2018

work (collection, processing, reporting, analysis), processes, org structure, governance models, last-mile gaps , metrics ladders of awesomeness , and… so… much… more. Remember, tools, work, processes, org structure, governance models, last-mile gaps, metrics ladders of awesomeness, and… so… much… more. The Implications of Complexity.

Analytics 95

Analytics Metrics Strategy Measurement 95

Domino Data Lab

JUNE 23, 2019

Skomoroch proposes that managing ML projects are challenging for organizations because shipping ML projects requires an experimental culture that fundamentally changes how many companies approach building and shipping software. These measurement-obsessed companies have an advantage when it comes to AI. That’s another pattern.

Management 110

Management Machine Learning Experimentation Metrics 110

The Unofficial Google Data Science Blog

OCTOBER 7, 2015

by HENNING HOHNHOLD, DEIRDRE O'BRIEN, and DIANE TANG In this post we discuss the challenges in measuring and modeling the long-term effect of ads on user behavior. Nevertheless, A/B testing has challenges and blind spots, such as: the difficulty of identifying suitable metrics that give "works well" a measurable meaning.

Modeling 61

Modeling Experimentation Knowledge Discovery Testing 61

Smart Data Collective

JULY 9, 2023

Understanding E-commerce Conversion Rates There are a number of metrics that data-driven e-commerce companies need to focus on. It is a crucial metric that provides priceless information about your website’s ability to transform visitors into paying customers. Some of the most important is conversion rates.

Optimization 82

Optimization Data Analytics Analytics Data-driven 82