Why You Should Combine KPIs in Experiments

Presentation tips - blog5

Imagine a company that sells a line of products and services. This company will likely have multiple goals for its website:

  1. to sell its products and services online
  2. to collect user information for sales prospects
  3. to drive brand awareness and loyalty
  4. to provide online support for existing customers

Let’s say the company has identified 20 KPIs (Key Performance Indicators) that measure the success of these four goals, and it is committed to optimizing the conversion of these goals by running many experiments. Should the company launch the treatment if some KPIs perform better but others perform worse than the control (i.e. the original site)?

Continue reading

Advertisements

5 Steps to Compare Multiple KPIs

Presentation tips - blog4

To know how your website’s doing, you need to define your Key Performance Indicators. If you’re running a blog (or some sort of content publishing site), and your goal is to increase user engagement, your Key Performance Indicators may include number of visits, pageviews per visit, and visit duration. 

Continue reading

Google Statisticians: Looking Beyond P-Values

There’s a recent term called “Google Statisticians.” No, they are not statisticians who work for Google; they are people who do statistical analyses by googling words like “how to do significance testing” or “how to calculate p.”

As biostatistician Jeff Leek pointed out, most analyses are no longer performed by statisticians, as data are now abundant and cheap to collect. Long gone are the days of door-to-door surveys, and phone surveys are almost a thing of the past. Online surveys are everywhere due to platforms like Lime Surveys and the powerful Google Consumer Surveys that make it easy to collect and analyze survey data. Log file data is free and overwhelming in size. There’s even software geared towards non-statisticians that automates statistical analyses.

Continue reading