This was a question that popped up in #usguyschat this week, and one we are trying to work out ourselves as we release and continue to measure online engagement and develop Formulytics.  The amount of data and ways to capture it are growing every day, so learning how to filter and process it effectively is critical for any professional or business.  That’s why I thought I’d share some of the smart points and ideas I picked up from different members of the #usguyschat this week.

For Starters, Know What You Want

To figure out which data is going to be meaningful, you need to determine what makes data meaningful to you and your wants.  The data you collect should be helping you achieve objectives you have set for yourself. So first, determine what those end goals are… are you looking to drive traffic to your company’s website? Generate sales? Network with people in your city or industry? Knowing what you are ultimately hoping to achieve will make it a lot easier to figure out ways (and useful metrics!) that can help you get there.

Start Broad, Ask Yourself “Why” A Lot 

Once you have a goal in mind, there’s still a lot of ways to get there and a lot of data you could potentially get that may or may not help.  A smart recommendation that came up in the chat was to start with a more broad approach and try to determine which general metrics tend to correlate well with end goal objectives. For each piece of data you choose to measure, make sure you can answer why it might be useful. Once you have determined that a metric is helpful with achieving a goal, hone in on it some more.

Review Your Data Periodically 

Industry and information change fast, so what was super useful yesterday may not be as useful as something else next week.  Review data and conclusions to determine both if they are plausible and if they are still tying in to key performance indicators of your business.  Are there any anomalies to look out for?  Any new trends in the industry that might have an effect on data that is useful?  Stay vigilant and critical.

There were a lot more smart questions and ideas posed in #usguyschat this week so I recommend checking it out for yourself or joining it next week (every Monday at noon PST, 3PM EST).

What are your thoughts on what makes data meaningful?