Boost your data analysis and decision-making efficiency with customizable metric templates.
Metric templates in Out of Dark are predefined sets of metrics that can be used to track various aspects of a business operation or strategy. These templates save time and effort by providing a set of commonly used metrics that can be easily applied to different areas of the platform. They provide a standardized way of tracking performance and progress, making data analysis and decision-making more efficient. You can choose from a variety of templates, such as "Appointments," "Budget," "Calls," "Conversions," "Leads," and "Open rate," or create your own to have more control over how your data is processed.
For example, utilizing metric templates in Out of Dark can help Carrie greatly enhance her data processing. To track her online store's conversion rates, for instance, she can use the "Conversions" template. This template would automatically process the data from her website analytics and calculate the percentage of visitors that make a purchase.
Similarly, if Carrie is interested in monitoring the engagement she has on her social media platforms, she could use the "Engagement" template. This would process data such as likes, shares, and comments to provide a comprehensive view of how users are interacting with her posts.
These templates not only streamline the data processing but also ensure that the data is treated in a way that aligns with her specific goals and needs. By automating the data processing, Carrie can focus more on interpreting the results and making strategic decisions.
Out of Dark offers a wide array of pre-set metric templates designed to streamline the initiation of your analytics journey. These templates are not only ready for immediate use but also customizable to align with your unique requirements. You can modify an existing template or craft an entirely new one to better meet your specific analytics needs.
To begin the process of creating a new metric template, select the "Add Metric Template" button, highlighted in yellow. The first step involves naming your template, followed by configuring how Out of Dark processes your data. Here's a brief guide to the available data processing options:
- Latest Value: This option retrieves the most recent data from your data source, ideal for monitoring real-time changes in metrics and ensuring decisions are based on the latest information.
- Sum: This aggregates data values from your source, useful for tracking total figures such as sales, expenses, or user visits over a selected time frame.
- Average: Calculates the mean of a dataset, providing insights into the typical or central values, like average customer spend or satisfaction scores.
- Cumulative: Similar to Sum, but specifically accumulates data over a defined period, essential for observing total figures within a set timeframe.
It's important to note the distinction between "Sum" and "Cumulative" functions; "Cumulative" incorporates a specific timeframe into its calculations, whereas "Sum" aggregates data without time constraints.
Subsequently, decide on the precision level of your data by setting the number of decimal places. The choice between including decimals depends on the nature of your metrics and the desired accuracy. Financial figures might require two decimal places for cents, while whole number metrics like website visitors or units sold may not use decimals.
Next, the trend expectation setting allows you to define a desired trajectory for your metrics. For instance, setting an upward trend for sales revenue signifies a goal for increasing sales, while a downward trend for customer complaints indicates a reduction objective.
Choosing a comparative analysis method enables you to evaluate data across different periods, aiding in performance assessment, trend identification, and strategic decision-making based on data fluctuations.
For example, comparing this quarter's sales with the previous one can highlight the impact of marketing strategies. Similarly, examining website traffic month over month can reveal areas for SEO or advertising improvements.
Finally, clicking "Create" finalizes your template. Congratulations on setting up a tailored metric template in Out of Dark!