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the-only-golden-metric-you-would-ever-need
Can be called as the “Golden Metric”, It has been called as “key performance indicator” in the past. In layman’s terms, it means “what did you want users to do when they have interacted with your content?” Usually, complex analytics would fail to deliver the one key metric that informs your entire digital strategy. Even dashboards tend to be more complex than that of a typical marketer wants to deal with. Every day, a marketer sees this single number that would allow them to get a feel of their marketing efforts. Critics may call this a “shallow” approach that leaves out much that is important but today’s marketers understand messaging, and often the best message is one that is also that is simple. It does not mean you cannot or do not back it up with other information. But just as a marketer does not publish all the research that went into the development of the new tag line, neither does an analytics practice need to publish all the data that leads to the golden metric. As an alternative, finding a way to have the present analytics specialists focus on branding algorithms that parse lots of data, then drive it all towards a single number that everybody can understand. It is not suggested that this will be the only data that is needed, but instead, it will provide a rally point, a wake-up call with a single focus. This data will provide tech-savvy marketers with something that is easy to talk about and share. Creating the golden metric will not be easy as it will take lots of dedicated analysts and programmers to come up with the right architecture and with it, will require lots of computing power. But none of these resources are scarce. The truth is, it’s been done before and with today’s much more complex data than resides in any organization’s analytics. In order to extract full value from the analytics effort, we as marketers need a number, just one, that everybody can understand and this number will be the golden metric.

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