Chapter 4
Levers of analytics
A metric only matters if someone can pull a lever because of it. These fourteen levers are the ways a business changes its results, and the drivers analytics should watch behind each.
| Business lever | What it is | Possible drivers | Example |
|---|---|---|---|
| 01Pricing strategy | Setting the price of products or services to maximise profit or hit a specific business objective. | Offering discounts in off-peak hours to increase demand. | |
| 02Cost optimisation | Reducing operating expenses without compromising quality. | Adopting energy-efficient technology to lower utility costs. | |
| 03Service innovation | Introducing new services, or improving existing ones, to match changing customer needs. | Introducing a mobile app for convenient booking and tracking. | |
| 04Marketing campaigns | Planning and running promotions to attract and keep customers and raise brand visibility. | Launching a social media campaign for a new product. | |
| 05Expansion strategy | Plans to enter new markets or grow operations in existing ones. | Opening new branches in emerging markets to reach more customers. | |
| 06Driver engagement | Motivating and retaining drivers, so they stay satisfied and loyal. | Offering performance incentives and recognition programs. | |
| 07Product development | Creating new products, or improving existing ones, from market research and customer feedback. | Developing a more fuel-efficient vehicle model in response to environmental concerns. | |
| 08Category management | Managing product categories to optimise sales, profitability and customer satisfaction. | Running a seasonal promotion to lift sales in one category. | |
| 09Market research | Gathering and analysing data on target markets and customers to understand their needs. | Running surveys and focus groups to assess customer satisfaction. | |
| 10Product testing | Evaluating product performance and collecting user feedback to find improvements. | Beta-testing a software update with a select group of users. | |
| 11Customer engagement | Building lasting relationships through personalised interactions and support. | Proactive customer support and personalised recommendations. | |
| 12Market validation | Confirming that a product or service is viable and in demand by acquiring and keeping customers. | Running a pilot to test demand and collect user feedback. | |
| 13Competitive analysis | Assessing competitors' strengths, weaknesses and positioning to inform strategy. | Analysing competitor pricing and customer reviews. | |
| 14Growth strategy | Plans to expand market share, grow revenue and reach sustainable growth. | Partnering with other companies to offer complementary services. |
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