Introduction: Traffic and conversion numbers go up and down every day. When looking at trended data, it can be difficult to know when an increase or decrease is truly significant. Sometimes our stakeholders can unnecessarily panic about a dip, or overly congratulate themselves about a spike.
Analysis Overview: This recipe shows how to add historical and statistical context to trended data using a simple standard deviation calculation in Excel. There are also tips for how to visualize this data to make the statistical concepts very simple for the report recipients to read and understand.
Analysis Benefits:
- Provides context for trended data
- Accounts for seasonality
- Removes the guesswork from deciding whether an increase or decrease requires action
- Especially useful in post-launch scorecards to help stakeholders decide whether or not to roll back changes
DAA members, go here to see full recipe.
------------------------------
Halee Kotara
Society Consulting (Corporate Account)
Dallas TX
------------------------------