Measuring impact

Prove the value data is brining your

Together with our customers, we shape measures that you can track to prove a positive ROI of data. We always focus on both the quality of the solution, as well as the impact of the use-case. We never stop with just the data, we care about the positive impact of data on your organization!

What is impact from data?

Measuring the impact of data is typical a though challenge: it is hard to define the value from a report for internal use-cases, whereas for customer facing use-cases it is hard to assign which impact belongs to your data initiative and which to front-end related optimizations or call-center agent excellence to give a few examples. Quality of a data solution is a first and necessary step. What is the quality of your data? Is a report trustworthy? What is the accuracy of a predictive model?

But impact from data does not end with the quality of a solution. If goes up until the quality and effectiveness of the action based on that data. It is that effectiveness that we at Dataminded like to measure. Based on reports or models, we define the action to be taken and the impact that action can have. This can be either monetary, a process optimization or customer delight. In all cases we aim to clarify what the impact of a given use-case will look like and how to measure it.

How Dataminded helps quantifying success

No one likes wasted money, or negative trends. That is exactly why you should start measuring the impact from your data initiatives. By defining what success looks like and actually measuring whether you live up to this early on, you obtain early feedback moments to avoid wasting money.

But even when a use-cases was once successful, you should continue following-up whether impact is not decreasing. Typically machine learning algorithms deteriorate over time, as behavior might change. You want to be on top of it, when this is happening. Imagine you have a personalization use-case suddenly offering coupons to everyone…

How Dataminded helps quantifying success

We at Dataminded believe that we should bring a positive ROI to your business. Your data strategy which we can shape together, should be tied to your company strategy and just like you have KPIs to measure your business success, we define KPIs for your data success.

We do this early on in the use-case selection and implementation. Together we define what success looks like for a given initiative. Whether it is an increased amount of customers, less money spend or hours freed up, we help you identify how we capture these numbers and provide the relevant insights.

As we are Dataminded, we can also assist you in building a dashboard to follow up on the results of our joint initiatives.