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How Business Intelligence Can Reduce Shrink

How Business Intelligence Can Reduce Shrink | BI Revolution | Scoop.it
How BI facilitates a decision-making process that saves millions At the core of every business decision is the desire to drive value for the company – whether that's increased sales, higher margins, elevated profits, or return on investment.
Martin (Marty) Smith's insight:

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Great post here that moves fro A to BI uses a grocery chains desire to reduce "shrink", or loss of goods due to spoilage or theft, a big deal in the low margin grocery biz.

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Rescooped by Martin (Marty) Smith from A Social, Tech, Market, Geek addicted
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Analytics Case Study: When your Conversions don’t matter

Analytics Case Study: When your Conversions don’t matter | BI Revolution | Scoop.it

The first question you may ask after reading the headline is, how it can be possible that conversions don’t matter. “Conversions always matter. If my website is getting conversions then it is impacting the business bottomline.”


Yes conversions always matter if they are ecommerce transactions. But if your conversions are goal conversions and not ecommerce transactions then there is always a possibility that they are adding little to no value to your business bottomline.  In fact it is more likely than you think.


Read more: http://www.seotakeaways.com/analytics-case-study-conversions-dont-matter/#ixzz25alYtQ4K


Marty Note
Read this article very carefully and it is helpful. Connecting "soft conversions" to math is a good idea. Every action is related to the math of your P&L. Every action has costs associated with it and every action has benefits. This article from SEOTakeAways is a good step by step approach to connecting soft conversions to money, an important idea.

Connecting soft conversions is important because it protects them. When we value things they are seen as valuable. When we don't value marketing tactics they may easily be swept from the table by well meaning but ignorant managers.

It is easy to be "ignorant" with Internet marketing. Internet marketing is a mystery wrapped in an enigma. The minute you think you've figured something out you are in real trouble (lol). Read this article carefully, connect even your softest conversions to money, track their progress and value them so others may as well and a small part of IM's mystery will be solved. 


Via Mario Lanza
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