In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Armando Biondi, the co-founder and CEO of Breadcrumbs, takes us on a journey through the world of data analysis and why relying solely on averages can limit your company's potential. With real-world examples and practical insights, Armando explains how breaking down data into cohorts and understanding their behavior can lead to more informed decision-making and significant business growth. Join us as we dive deep into the importance of data granularity and discover how to unlock your company's full potential.
KEY TAKEAWAYS
- Averages Aren't Enough: Averages often oversimplify data. To gain a deeper understanding of your business performance, break down data into cohorts based on different behaviors or characteristics.
- Cohort Analysis: Cohort analysis can reveal hidden insights. Armando shares examples of how different customer cohorts can dramatically impact key metrics like conversion rates and average contract values.
- Informed Decision-Making: By focusing on cohort analysis, businesses can make more informed decisions and allocate resources effectively to areas that truly move the needle.
- Benchmarking: Benchmarking against cohorts can help businesses set more realistic goals and understand where they stand within their industry.
- The TED for B2B Tech: HotX Live is dubbed as the TED for B2B tech, featuring short, insightful talks from industry leaders across marketing, sales, product, and operations.
HIGHLIGHT QUOTES
- "Averages are a lazy way of measuring, enough with that."
- "One thing is the average. The other thing is what are the cohorts? What are the different behaviors/makeups that are contributing to that average point?"
- "Isn't this a way more informative, educated way of having that conversation and a better way to focus on the things that move the needle?"
- "Benchmarking against cohorts can help businesses set more realistic goals and understand where they stand within their industry."
You can find out more about Armando Biondi in the link below:
HOST: Armando Biondi
GUEST: -
Breadcrumbs Podcast
