Let's Talk Analytics

Read time: 5 minutes

How to set up proper analytics for your website is somewhat of an unknown task to a lot of startup founders. Generally, it’s hard to find a specialist, you are not sure if this is something a business team should set it up, a finance team, a data scientist. Well, we are here to help you clarify that.

First of all, what do we refer to when we speak about analytics? It’s generally understood as the deployment of the necessary tools to measure behavior and business performance through a specific (one or multiple) input method (tags, events, json, s2s notifications, etc…). The information is picked up and set to an analytics service that will pick up and visualize this information for you to make it digestible and understandable.

In most cases, analytics should be set up by a person from the business team with a broad understanding of all areas of involvement in the success of a product - business analytics - marketing. You have a whole wide of offerings to build your analytics, you can start off by simply implementing Google Analytics, and slowly aim for a proprietary Business Intelligence system, that should be more expensive but will give you the canvas to make tailor-made dashboards and graphs for you and any teams involved in your business in order to follow performance precisely and accurately.

Designing your first dashboard requires you to understand your Key Performance Indicators (KPIs) and is considered to have several steps to ensure that it effectively communicates essential information and insights.

Here’s a step-by-step guide on how to design your KPI Dashboard 👇

How to Design Your KPI Dashboard

1. Define Your Goals:

Start by identifying the purpose of your dashboard. What specific goals or decisions do you want to support with this dashboard? Clearly define the key questions you want the dashboard to answer.

Always set high-level, medium-level, and low-level or specific goals. The difference is that on the top or high level, you need to define 1 clear goal and objective, in the medium to low you can combine a couple of them in order to build more cohesive and comprehensive action plans to achieve them.

2. Select Relevant KPIs

Choose KPIs that align with your objectives and help measure the success of your goals. Focus on a few critical metrics that reflect the overall health and performance of your business or project. KPIs should be specific, measurable, achievable, relevant, and time-bound (SMART).

3. Gather Data

Collect the necessary data for your selected KPIs. This might involve integrating data from various sources such as spreadsheets, databases, APIs, or third-party analytics tools.