Introduction to Data-Driven Decision Making

• This session serves as an introduction to the material.

Data-Driven World

• The internet reaches 65% of the world's population as of July 2021, representing 5.17 billion people, 10% more than in January 2021.
• Mobile devices were used by 92.6% of internet users.
• Businesses must change with the world.
• Domo provides the power to make data-driven decisions at any moment, on any device.
• Data never sleeps and it is constantly transforming how we eat, work and entertain.
• Every minute of the day, Twitter users post 575k tweets, TikTok users watch 167M videos, Google conducts 5.7M searches.
• Every minute of the day, Discord users send 668k messages, 12M people send an iMessage, and Clubhouse creates 208 rooms.
• Every minute of the day, Snapchat users send 2M Snapchats, Amazon customers spend $283k, and 6M people shop online.
• Every minute of the day, Strava athletes share 1.5k activities, Netflix users stream 452k hours, and Teams connects 100k users.
• Every minute of the day, Zoom hosts 856 minutes of webinars, Slack users send 148k messages, Venmo users send $304k, and Instacart users spend $67k.

Old vs New Rules

• Advertising was key, advertisements aimed at the general public, and ran for only a certain amount of time.
• Audiences may have felt interrupted by advertising and PR was a separate function from advertising.
• Traditional media which involved "Outbound Marketing" is breaking down.
• Modern consumers are well-informed, and expect the truth rather than 'spin'.
• Interruptions are not well tolerated in the age of DVRs and email filters.
• People demand value for their time and money and use the internet to find it.
• Marketing and PR are designed to appeal to niche audiences using multiple techniques to reach them.
• Online content stays online permanently, so there is no end to campaigns.

Online Marketing

• "If you build it, they will come" does not apply to online marketing.
• Search engine optimization (SEO) and search engine marketing (SEM) are used, with Google comprising almost 90% of the search market.
• There are banner ads, links, and cost per click (CPC/CPM) advertising.
• Affiliate marketing includes cost per acquisition (CPA) such as linkshare and CJ.
• Blogs, microsites, and social media, as well as email and mobile marketing are used.

Internet Mechanics

• The Internet is a collection of documents connected by hyperlinks.
• A hyperlink is a virtual link from one document on the Web to another, it includes the Uniform Resource Locator (URL).
• URLs provide information to both browsers and people.
• When a URL is put into the address bar of a browser, the Domain Name System (DNS) record indicates where the document you are linking to is.

Terminology

• Understand: subdomain.domain.tld/directory.
• A domain is the registered domain name of the website.
• A subdomain is a domain that is part of a larger domain.
• A top-level domain (TLD) is the uppermost in the hierarchy of domains.
• A directory is a folder to organize content.
• Cost per mille(CPM) is the cost per 1000 impressions.
• Impression is the number of times an ad is displayed.
• Unique Host Impression represents a single impression from a single host.
• Cost per click (CPC) is the amount paid for each click on an online advertisement.
• Cost per action (CPA) a payment model where payment is only triggered by a specified action
• A visitor is someone who visits a website
• A unique host visitor is a single visitor to a website

Search Engine Results

• Search engine results show both AD results from PPC(Pay per click) and organic results based on SEO(search engine optimization)

Acquisition Metrics and Online Customer Lifecycle

• Traffic sources include direct visitors (using Bookmarks or entering the URL), referring sites (e.g., Facebook or CNN), and search engines (e.g., Google, Yahoo, Bing).
• Paid search rankings are SEM, while unpaid ones are SEO.
• The Online Customer Life Cycle goes as follows:
• Claim someone's attention with an ad campaign (mostly search marketing).
• Bring them into your sphere of influence, and turn them into a registered and/or paying customer, then keep them as a customer.
• Turn them into a company advocate.

An introduction to the world of data and its impact on businesses and everyday life. The internet reaches 65% of the world's population. Businesses must change with the world and make data-driven decisions on any device.