1
00:00:00,870 --> 00:00:04,860
Once we have business knowledge, we need to gather the relevant data.

2
00:00:06,360 --> 00:00:07,590
There are three steps to it.

3
00:00:08,550 --> 00:00:10,500
First is to identify the data needed.

4
00:00:12,670 --> 00:00:21,100
We know what data we need from the research, second is requesting this data from relevant people within

5
00:00:21,100 --> 00:00:22,500
and outside the organization.

6
00:00:23,470 --> 00:00:28,870
And lastly, when you receive the data from different teams, you need to do a quality check on the

7
00:00:28,870 --> 00:00:29,620
data received.

8
00:00:32,390 --> 00:00:40,070
They are being requested can be of two types internally and externally, the internal data is the data

9
00:00:40,070 --> 00:00:44,270
which is collected by you or your research team or your organization.

10
00:00:45,740 --> 00:00:50,420
For example, sales data on monthly money spent on a particular type of promotion.

11
00:00:51,610 --> 00:00:55,510
Is the data available with your organization and is internal data?

12
00:00:57,290 --> 00:01:04,310
Externalities data collected and maintained by external data sources, for example, government maintain

13
00:01:04,310 --> 00:01:10,520
a population centers data which can be used to determine the demography in a particular region, or

14
00:01:10,520 --> 00:01:13,430
you can buy data from several third party vendors also.

15
00:01:15,200 --> 00:01:22,900
Now, let's go back to the example of abandonment, we decided to go meet some people and do some research,

16
00:01:23,750 --> 00:01:27,790
let us see how business knowledge tells us what they are together.

17
00:01:30,740 --> 00:01:38,180
So first we went to the marketing team, they tell us that customers who are coming to the website are

18
00:01:38,180 --> 00:01:39,830
coming from three different channels.

19
00:01:40,990 --> 00:01:48,490
50 percent come from evil marketing, 30 percent from organic search and 20 percent from AdWords marketing.

20
00:01:50,210 --> 00:01:56,570
Probably whether the customer will eventually buy or not buy depends on which channel that customer

21
00:01:56,570 --> 00:01:57,330
is coming from.

22
00:01:58,460 --> 00:02:03,050
So we decided to get this sorted out to our website for all the customers.

23
00:02:04,280 --> 00:02:11,420
Next product team tells us that there are three steps in the buying process after adding a product to

24
00:02:11,420 --> 00:02:11,810
cart.

25
00:02:13,740 --> 00:02:19,530
Card review, adding address or personal details, and then finally the payment.

26
00:02:20,930 --> 00:02:23,500
Maybe there is some issue in any particular state.

27
00:02:24,660 --> 00:02:28,830
Let's get Andy Card abandonment location for all the customers.

28
00:02:30,430 --> 00:02:35,590
Then we did some industry reports regarding the issue and found out the below observation.

29
00:02:36,780 --> 00:02:41,760
Customers who add expensive items in their car keep it in the card for longer duration.

30
00:02:43,550 --> 00:02:48,620
So against each customer order, we should also get the total card value for each customer.

31
00:02:51,620 --> 00:02:57,730
Lastly, when we did our Driton, we saw that there is a small town willing to rate the experience,

32
00:02:58,970 --> 00:03:02,870
so let's get these ratings from the customer experience to Emoto.

33
00:03:04,920 --> 00:03:09,600
You can see how business understanding is telling us what data to collect.

34
00:03:11,060 --> 00:03:18,530
Once you have the data, you need to tidied up and clearly define what each variable stands for.