David’s data predictions: A guide to help you climb back up the economic ladder in 2021.
This is actually Dave 👇
As the end of the year looms and we start reflecting on the year that was, or making resolutions we’ll never keep, predictions also start flooding in.
Our Data and Insights whiz David Szanto loves a prediction just as much as he loves an oversized schnitty. So here are his 3 predictions for 2021 in the colliding worlds of data and creative marketing to help you climb back up the economic ladder in 2021.
Firstly before I get into my predictions, I will state that unlike any other insights the Orchard Data Team provides as a service, these predictions have an unknown P value which is probably >> 0.05 (in layman’s terms: there is no data or statistical evidence).
Secondly being a weird numb3rs b0i, I will give you 4, as 4 is my favourite number and odd numbers are evil (except for multiples of 5).
- Expect to see improvements in Conversion Rate Optimisation tools
With the year that has been, the online experience for business has become increasingly important as people migrate away from bricks and mortar to websites.
Google currently provides a (free or paid) basic website conversion rate optimisation tool called Google Optimize/Google Optimize 360. Armed with a number of my ideas plus Vic’s (Orchard’s Head of Data and Insights) powers of persuasion, we are collaborating with Google to create and include new easy to use features in the platform for Orchard.
An example of a simple feature we are hoping to develop is an automated dynamic web page tool incorporating external data such as local weather conditions. This would allow us to test things such as increasing the visibility of ice-creams on grocery store websites on hot summer days by city.
Another more technical product in the pipeline is multi-session-based test formats with integrated decision tree architecture. Experiments run in this style would focus on individual user journeys with specific user actions directly affecting what individuals are shown per session. Our goal as a business is to invent better outcomes for our clients, and these tests will help us to identify efficient and personalised conversion-generating customer journeys.
2. Machine learning will be adopted in a broader range of business operations
Last year, Domino’s announced they had created a machine learning tool (also known as an artificial intelligence or expert systems tool) for staff rostering. It scans its own intricate historical sales database and maps it against live data sources such as the weather and the NRL season timetable. Their system, known as Cognitive Rostering, allows them to dynamically generate staffing rosters for each Domino’s store. The forecasting tool is quite accurate and saves the business money while improving customer experience.
I expect similar programs to continue to be set up across all types of businesses for similar purposes in 2021. I have a top-secret one I’m working on for one of our clients at the moment that is sure to increase their market share and improve the business’s bottom line!
3. Microsoft Clarity will challenge HotJar
Hotjar has been the market-leading website behavioural analytics tool for simple reporting visualisation for many years. Recently, Hotjar has been gradually limiting the features available on unpaid subscriptions in an effort to drive users to pay for the comprehensive service.
Microsoft has a similar product called Clarity, with unique features they recently made completely free regardless of personal, business, or enterprise use. Although Clarity has both pros and cons compared to Hotjar, this will challenge the market position of Hotjar as it is completely free.
On the data team, we plan to utilise it as an entry-level tool for simple website behavioural visualisations and if a different solution is required we will then introduce them to Hotjar and other paid alternatives. The insights we gained from any level of product are fed to our UX team catalysing improved user experiences and customer journeys. This helps reduce friction with prospects becoming customers.
4. Guaranteed Positive Reporting For Most (Happy client partners)
COVID-19 saw a predominantly negative effect on financial business reporting — reports with numbers on the decline and charts trending downward. Thankfully, as businesses start to recover and regain stability due to increased consumer confidence, this will positively affect year-on-year reporting.
What does this mean? Any year-on-year reporting is bound to be positive except for maybe the health sector which was lucky enough to survive the negative effects of COVID-19. (sorry Narinder and Breen Machine)*
This means as Orchard enters meetings with Julian’s (Orchard’s Data Analyst) reports, there will likely be a positive discussion devoid of clammy/sweaty nervous hands.
So there you have it. Three predictions and a bonus one for good measure. Don’t hesitate to get in touch if you have any questions on the above, and although next year is 2021 (odd and therefore evil), I wish you all the best in the new year.
Yours truly in Data and Insights,
Dave, the data guy.
*Narinda and Breen Machine love a positive report