Step 1 in the Analytics Therapy Loop is Activity Analysis. Here are the questions you need to be asking during this phase. The Analytics Therapy Loop is a framework for driving an organization to be more data-driven.
Activity Analysis is the first step toward refining your metrics using my “Analytics Therapy Loop.” In this phase, you identify the key activities for which you will set up tracking in Step 2 (Track Key Activities). When performing Activity Analysis, ask yourself these questions about your business. Brainstorm the answers to each, writing down your answers to all the questions beofre moving on to prioritizing.
What does your company sell?
How many customers do you have?
How do you acquire new customers?
How much do things cost?
How much do you get paid?
What does each of your teams do?
What is the most important thing each team should strive to do more of?
What is the most important thing each team should strive to do less of?
What event or result would you like to maximize?
What event or result would you like to minimize?
What activities or results to individuals need to hold themselves to?
Now that you’ve brainstormed and drafted some of the important activities of your company, you need to pick just a few activities to identify as Key Activities for the purposes of this iteration through the Analytics Therapy Loop. Which of the items you’ve written down is the most important? Which items do you believe drive the success of your company? Take these into Step 2, Track Key Activities.