课程: How to Build and Execute a Successful Data Strategy

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Defining data-driven KPIs and metrics to track progress

Defining data-driven KPIs and metrics to track progress

课程: How to Build and Execute a Successful Data Strategy

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Defining data-driven KPIs and metrics to track progress

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- Let's walk through a real world scenario of defining and tracking a KPI for Globe Bank online. Let's start by clearly defining our objective related to revenue growth. Is it to achieve a specific growth rate, increase average revenue per customer, reduce customer acquisition cost, or improve customer lifetime value? In this scenario, let's increase revenue per customer. We would next need to identify data sources, determining which data sources provide the essential information for tracking customer revenue growth. In this example, it comprises of sales, customer, financial, and marketing data. Let's also align the business definition of this metric. This metric calculates the average amount of revenue generated for each customer. Divide your total revenue by the number of customers during a specific time period. Understanding this metric helps assess the value each customer brings and identify opportunities to increase revenue through upselling or cross-selling. We then must set…

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