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Analytics ROI measurement

Measure and demonstrate the value of data and analytics investments

Develop a framework for measuring and communicating the return on investment from data and analytics initiatives.

85 minutes
analysis

Overview

Develop a framework for measuring and communicating the return on investment from data and analytics initiatives.

Learning objectives

  • Define value metrics for analytics
  • Track costs and benefits
  • Calculate ROI for initiatives
  • Communicate value to stakeholders

Instructions

Build a system for measuring and demonstrating analytics value.

Steps

1

Identify initiatives

20 minutes

Identify analytics initiatives

2

Define metrics

20 minutes

Define success metrics

3

Calculate ROI

25 minutes

Calculate costs and benefits

4

Create dashboard

15 minutes

Create ROI dashboard

5

Develop communication

5 minutes

Develop communication strategy

Pro tips

  • •Include both tangible and intangible benefits
  • •Track leading and lagging indicators
  • •Use case studies and stories
  • •Regular stakeholder updates

Example outcome

Clear demonstration of analytics ROI showing 5x return on investment with specific examples and ongoing measurement framework.

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