The challenge

 
 
One of the most successful fast-food restaurant chains in the world came to us wanting actionable, clean, trustworthy data out of their digital properties. They already believed they can transform their business through digital analysis and had a talented team in place, so defining a good measurement plan, tailored to their specific needs, was key to this.
 
The purpose of any measurement plan is to define KPIs and metrics that are foundational to monitoring the performance of the objectives and goals set for businesses.
 
The client needed its data to be restructured from two views, from a technical perspective and from a business perspective. For the technical side, the data should possess two traits: being trustworthy and clean. For the business side, the collected data had to be curated and customized according to the needs and requirements of the business.
 

Benefits of a measurement plan

 

  • It creates a solid foundation for the data collection that follows
  • Opens the path for analysts to deliver transformational insights
  • Greatly improves the understanding of the business
  • Accelerates the path towards revenue growth

 

Cognetik’s approach

 
The measurement plan we developed was the foundation for all the data collection processes that were implemented. It helped ensure the right data was collected, built a solid foundation for their analytics practice, and elevated the way data was used to make business decisions. The team was finally able to leverage data to form transformational insights, more easily identify patterns and use analytics to spot and address business needs.
 
At first, together with the client we worked on figuring out what areas of their data collection processes were in need of improvement. As we began reviewing their data, we quickly realized there was little to no structure in place around data collection, a crucial step to ensure data accuracy and usability.
 
Moreover, the data collected could not be trusted due to many errors in the implementation.The company’s business users, subject matter experts, stakeholders, product managers, analysts – or anyone else – could not gather actionable and transformational insights based on the initial state of the data being collected, so a total restructure of their data collection was needed. They needed structure and a measurement plan.
 
In order to work, a measurement plan must be built with the top business objectives of a company in mind, making sure that what we measure is the definition of success for the goals assumed by the organization.
 
Our first step was to interview various stakeholders within the client’s organization, and have them answer carefully curated questions aimed at helping them define their overall measurement and analytics goals for the business. We put together documentation that detailed their business requirements, goals, objectives, including well defined KPIs, metrics, and dimensions, and secured the client’s approval and executive buy-in.
 

Step 1. We started with interviews with the clients. We asked a number of questions to guide them for a better understanding of their objectives, to help them define their overall goals and create the business requirements that will help fulfill that goals.
 
Step 2. Once we made sure that the business objectives and goals are aligned throughout the company, we made a comprehensive document stating their Goals, Objectives & Business Requirements.
 
Step 3. Even if every component of those documents was derived from our talks with the executives, we were well aware that when we presented the list it might very well be the first time they see it written down and structured. So, in order to signal the green light for the measurement plan, the client must first sign their approval for the Goals, Objectives & Business Requirements.
 
Step 4. Here is the part where we actually start defining KPIs, metrics and dimensions, in order to have all our client’s business requirements measured properly.
 
Step 5. Every change we implement, every tracking we install, needs to get approval. We made sure to get approval for the KPIs, metrics & dimensions.
 

Achievements

 
The client’s now has more trust in its data and demand for insights saw an increase of more than 75%, while these insights are estimated to drive $30 million in incremental revenue for the year.
 
 

About the author

Cognetik