Last week I came across an article on Silicon.com with the title: ‘How one extra data field can cost 12 Million’. I went to have a read and saw the opening sentence:
Online travel firm Expedia has found that data analytics can deliver a multi-million dollar kick to a company’s bottom line.
What a complete load of hogwash. Data analytics?
I call bollocks.
What happened: Expedia had a field on their payment page called ‘Company’. And apparently, Expedia didn’t realize that this was a problem – despite the fact that people often entered the name of their bank in that field.
Neither did they understand that if a lot of people proceed to enter their bank’s address in the address field, there’s something quite wrong.
They apparently also wondered why so many people failed to complete payment. Until they decided to remove that field, and… BOOM! Twelve Million more profit per year.
Data analysts – my eye. What ever happened to common sense? They needed ‘Data Analysts’ to figure it out?
One could argue that the field shouldn’t even have been there. Similarly, one would expect someone to ‘do the math’, once the drop-off rate on the payment page got above a certain level. But no, apperently nobody was paying any attention. Interesting, don’t you think?