Alistair Croll has spent the last decade studying how companies can be more efficient. His consulting firm, AlistairCroll, recently launched a new product called Lean Analytics which helps businesses design and implement data-driven decision making processes to reduce waste on all levels of a company’s operations.
“Talking Lean Analytics With Alistair Croll” is a book that will teach you how to implement lean analytics in your business. It also includes a free PDF download for the reader.
When starting a new business or marketing campaign, the first important consideration should not be whether or not you can carry out the strategy. The question should be whether the concept is even worth pursuing.
This was a significant issue of a recent talk my organization conducted with Alistair Croll, author of “Lean Analytics.” Instead of trusting in the adage “if you build it, they will come,” he proposes that businesses instead say “if they would come, you should create it.” Fortunately, we now have access to massive quantities of behavioral data that can address this second claim. I often evaluate and write on technology that analyzes social media data, so I was curious to learn more about planning around such findings.
During this year’s SXSW Interactive Festival in Austin, Texas, we filmed the video. Croll was in town to provide an advanced social media monitoring class. We spoke about how businesses may utilize data to initially evaluate the most risky aspects of their company or marketing campaign concept. You may then spend in completely developing the idea after they’ve learned what the market reacts to (and what moves the needle on revenue, site traffic, clicks, or another crucial performance indicator).
He used the vacation rental website AirBnB.com as an example. The firm desired to increase income, which necessitated the addition of additional rental listings and renters. People would be more likely to rent if homes had better photographs, according to the CEO. Homeowners would be more willing to work with them if their properties leased quicker as a result of the better image.
Instead than employing a legion of photographers and developing new website capabilities to support the concept, the firm simply pretended to provide this service. They hired a photographer for a few houses and then uploaded the photos online. They discovered that houses with superior photos leased two or three times quicker than similar rentals. So the notion worked out in terms of money, and they were able to completely develop the service.
This was just one of Alistair’s examples throughout the interview. Check out our video interview below to learn more about applying this approach, often known as “The Lean Startup Movement.”
Alistair Croll is a certified Lean Analytics practitioner and author of “Lean Analytics: How Organizations Use Data to Build Insight and Improve Performance.” He has been working on the topic for over 10 years. Reference: lean analytics book.
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