Episode 139 - Making Data Actionable and Developing a Data 6-Pack with Dan LeBlanc of Daasity

What do six-packs, successful pilots and 2020 have in common?  No, it’s not a drinking game.  We’re talking data here people! Do you know your data…like really know your data?  Do you have a feel for it?  Do you look at the right numbers daily?   Let’s talk pilots for just a second. If you’ve ever seen a cockpit, it looks kinda like most eCommerce dashboards - an overwhelming amount of buttons, data, dials, and meters.  But pilots actually focus mostly on just a few key instruments.  The rest is there to help if there’s trouble.  The same should be true for the dashboards you use to run your business.   I absolutely loved this interview with Dan LeBlanc at Daasity.  We cover some really important topics to help you really get a handle on managing your business.  Here’s a quick rundown: Is your data accurate?  Seems like an easy question.  Not always an easy answer.   Do you know what your metrics mean?  It’s all in the definition.  If you don’t have the right definition, you can’t make good decisions.   How you should look at your Lifetime Value (LTV) and why Cohorts matter Why contribution margin is super important plus an easy way to calculate it Knowing your RFM - Recency, frequency, and monetary value.  Here’s how to look at this and why it matters.