data driven desicion making
TRANSCRIPT
DATA DRIVEN DECISION MAKING
Agenda
• To Find Out How You are as a DECISION MAKING MANAGER
• The IMPORTANCE of making DATA DRIVEN DECISION MAKING
• TIPS of how to adapt DATA (specially for people who do not enjoy math)
Quick Test
• Do you engage the lowest levels of your operations in making strategic decisions?
• Do you make sure to include diverse data that cover multiple possible situations?
• Do you use data to understand your current state?
• Do you use backward and conservative planning?• Do you aim to learn new skills and develop/use
new data to maximize informed decision making?• Use data to learn weak points and identify
mistakes?
Recruitment
Recruited:500
Raised: 50
Recruited:X
Raised: 100
Recruitment
Recruited:5,000 Raised: 500
Recruitment
Recruited:30,000 Raised: 3,000
Recruitment
850,000 Raised: 85,000
Recruitment
What happens to the other 765,000 Students?
Identify the How to Improve Conversion:
What data do you need to make an informed decision?
Global Citizen Summer 2015
Recruited:265 Intro\GD: 86 Interviews:
73 Pass: 51
34% 85% 70%
Sign-Up Phase
Total:202,539
Form Views(Unique):
1,216
Actual Sign-Ups: 265
21.8%
0.28%
What can we infer?• Sign-Up form might not be
user friendly• Information about Program
might be unclear• Engagement needs to be
more focused • Campaign language might
not be best for conversion
Strategic Decisions To Be Made• Redesigned Sign-Up
Forms• Easier Access to Data• Revision of Campaign
Language• Redefinition of Target
Audience
Actions Taken
• Removed Redundancy with Sign-Up Form
• Less Complicated Visual Styling
• Less Aggressive Campaign Language
In Decision Making
SmartData
Smarter Decisions
TIPS for DATA DRIVEN decision making• Credibility• Correlation• Calculation
CredibilityWhere are you sourcing your data?
• Invest in Systems with Analytics
• Study your overall Population
• Remove Outliers From Figures
• Identify clearly your assumptions
• Analyze previous historical data
• Keep Data Accessible
CorrelationWhat do these numbers mean?
• Use conversion rates and other measures to analyze weak links
• Create assumptions based on data (This University has the highest likelohood of signing up for this program based on the form, MOST GCs choose this destination during this time period)
CorrelationWhat do these numbers mean?
CalculationKeeping good data?
• Use measurable choices in Feedback form
• Keep track of things like attendees, rankings etc.
• Keep data safe and accessible• Learn Basic Statistic/Excel is your
friend• Plan with INFORMED
ASSUMPTIONS not gut feel or “Realities”
Recommended ReadingHarvard Business Review Online:• An Introduction to Data-Driven Decisions
for Managers Who Don’t Like Math• Are you Data Driven? Take a Hard Look
in the Mirror
Thank You