In theory, this image illustrates one way in which Data & BI leaders help in company growth. But something is not right with it. Can you tell us what it is?
The answer might be scary. In practice, almost a third of what you are seeing here should be represented by broken pieces, what is commonly known as “Invalid Traffic” (IVT), part of the Fake Web phenomenon.
As our recent study shows, 27% of all organic and direct traffic is invalid, consisting of a wide array on non-human, automated, malicious, and suspicious users. This means that the broken pieces are consistently being part of business analysis and measurements, costing time and money for companies around the globe: $697 billion annually, to be precise.
That’s why we believe having a Go-to-Market Security Platform is mission critical for any data driven company.
Let’s understand more about it.
Today, is common sense that our decisions should be based on data. The more we know about a situation, more precise our assessment and decision-making will be. Not by chance, companies are spending millions in it. As shown on a recent study by McKinsey, “a midsize institution with $5 billion of operating costs, spends more than $250 million on data across third-party data sourcing, architecture, governance and consumption”. With this scenario, being able to properly interpret data have a crucial impact on business success.
Here lies the importance of Data & BI leaders for a company. By developing market and finance intelligence reports, displaying trends, patterns and the success of business and marketing strategies, as a Data & BI leader, you will certainly contribute shaping the company’s growth.
But for all that to happen, you must first understand the type of data entering your systems.
Afterall, if your visualization is fogged by Invalid Traffic (IVT), your analysis and measurements of KPI’s will not be based on valid data. Rather, your work you be based on the analysis of traffic generated by bots and fake users.
The danger is exactly this: IVT will lead to skewed data, analysis, and measurements, which can lead to a chain of decision-making processes that will reflect on bad business decisions. This is translated not only into hours of work and budget being spent the wrong way, but also in a lower potential to grow and acquire new costumers.
Simply put: IVT = Bad data = Bad analytics = Bad business.
You must be asking yourself, then, what can be done to get rid of skewed data, so you will be able to analyze what really matters. Well, it might be simpler than you think. Part of it you already did by reading until here.
Understanding how you and your company are affect by the amount of IVT generated is the first step of the process.
The second is to integrate IVT data into your native BI systems and unskew your data & analytics. By having the right tools to give Data & BI Leaders granular log-level data export and custom BI connectors, CHEQ Paradome makes it possible to uncover reality and understand how IVT impacts the different funnel stages. Ultimately, you will ensure accurate measurement of traffic volume and activity, boosting your forecasting ability.
Once you have that, the benefits for your work and the company’s business are various.
We understand that Invalid Traffic is a problem beyond security. It is detrimental to business in every step of the chain, as affects marketers, sales, and data leaders. If you want to learn more about IVT, and how to accurately and efficiently address it, contact our team today.