The following are notes from my readthrough of Maths and Stats for Web Analytics and Conversion Optimization by Himanshu Sharma, in no particular order:

  • ROI, ROI, ROI
  • You need 4 sets of data to calculate ROI: (1) Cost data (2) Conversion goals (3) Web metrics (4) Revenue data
  • Tweets, likes, backlinks are secondary benefits as you cannot easily tie them back to monetary benefits to your business
  • Use segments to filter out traffic that cannot convert to report on true conversion metrics (eg. visitors from other countries not eligible for your products)
  • Conversion rate is over-used and misunderstood. Avinash agrees –¬†https://www.kaushik.net/avinash/stop-obsessing-about-conversion-rate/
    • Use conversion volume, or task completion rate by primary purpose instead
    • Conversion rates can increase even as sales, profit, etc go down
  • Be aware of both statistical significance and effect size
  • Always ask what type of average was used
    • Analyse the data set to see if the average was appropriate
  • Asking business questions > more analysis