BETA - Building Metric Klips - First steps and best practices

If you don’t see Metric Klips in your Klipfolio account and want to get on the waitlist for our BETA metric functionality, go here.

If you are using our Metric Klips BETA functionality, we would love to hear from you! Please send us your feedback by contacting beta@klipfolio.com or by contributing via our Community Forum.

 

Want to build Metric Klips but not sure where to start? This article includes some introductory information and data design suggestions to help you on your metric journey.

Let’s begin at the beginning .... What is a Metric Klip? Metric Klips help you determine the health of your business. A Metric Klip is a single numerical value that’s used to track the status of a business process. Some examples of metrics are ‘Average Revenue per Account’, ‘Twitter Followers’, and ‘Customer Lifetime Value’.

When you create a Metric Klip, you add dimensions, so you can see your performance from different perspectives. Dimensions provide context for the numerical value in your Metric Klip and are used to break down, filter, or group your data. Every Metric Klip includes at least one time dimension. Some examples of dimensions are country and product type.

Why Metric Klips?

With Metric Klips, you can:

  • Keep track of your performance over time and compare current to historical data. We retain your historical data by storing the latest records every time your data is refreshed, gradually building up your data history.
  • Gain insights into your data through interactive exploration. Dig into your data by trying out different visualization types, applying various date ranges, and choosing unique ways to segment and filter your data. It’s quick and easy and you can see the impact of your choices as you experiment and explore.

Before building a Metric Klip

Ask yourself:

  • What business questions do you want to answer?

Having a clear vision of the answers you’re looking for will drive your preliminary data preparation and help you make the right choices when building and exploring your Metric Klips.

For example:

  • Do you want to know how much it costs your business to gain new customers? The “Customer Acquisition Cost” metric measures the cost of acquiring new customers by adding up sales and marketing costs for a given period, and dividing by the number of customers in that period.
  • Do you want to gauge the popularity of your company’s posts on social media platforms? Use the “Social Media Likes” metric to measure the number of likes on your Twitter or Facebook posts.

No matter what metric you're interested in, make sure you select a data source and dimensions (columns) that include the data you’ll need for your Metric Klip.

Note: The sky’s the limit when it comes to creating Metric Klips in Klipfolio. Looking for some inspiration? Metric Klips includes several defined metrics and we are adding more all the time! When you add a Metric Klip, you will see a list of defined metrics. To learn more about a metric in the list, click its “information icon”.

Once you know the questions you want to answer, then:

  • Consider your data source.

Think about the question you want answered. Does your data source contain the right information? Does it include the numerical values you want to track or records that can be counted? Does it include all the dimensions you want to use in your Metric Klip, so you can see your data from several perspectives?

Take a few minutes to identify the columns from your data source that you’ll use for the metric value, the dimensions to segment the data by, and the time dimension. These are the columns from the data source that are stored in the Metric Klip at each refresh.

Consider how you could refine your raw data to optimize it for Metric Klips. Before modelling your data source, take a look at the data design tips described below.

Data design tips

Here are a few data design best practices:

  • Time and history are at the heart of the value of Metric Klips. To fully appreciate this feature, when trying out Metric Klips, choose a data source that includes historical data.
  • Using more granular data, like transactions and hourly data (versus data that’s summarized over longer periods, like by week or by month) enables you to leverage how metric values are automatically aggregated as you switch between time periods in Metric Klips.
  • When modelling a data source:
  • Choose a rich data source that includes columns that can be segmented in multiple ways. Doing so ensures you have lots of options when exploring your Metric Klip later.
  • Not all data columns make optimal dimensions. Only include the columns that represent the dimensions you want to see in your Metric Klip.
  • Rename columns (optional, depending on the Metric Klip's purpose and proposed audience).
  • Don’t “over-prepare” your data. For example, unnecessary grouping or aggregation of your modelled data prevents you from accessing Metric Klips’ flexible ability to display varying levels of granularity.
  • Use formulas to manipulate and optimize your data. Using a formula to group your data into categories (or buckets) can bring simplicity and clarity to your Metric Klip. For example, grouping large sets of individual numbers into ranges of numbers will simplify your Metric Klip presentation. A clearer message is a more powerful message.
  • Transform multiple columns into smart, combined dimensions, for example, concatenate a first name column and a last name column into a name column.

Don't be afraid to start over!

Great Metric Klips aren’t necessarily built on the first try. Creating meaningful Metric Klips is often an iterative process. The process of creating a Metric Klip is fast and easy so, if you create and explore a Metric Klip and it’s not what you want it to be, don’t be afraid to delete it. Return to your data source and either edit it further or choose a new data source before creating your next version of the Klip. If you build a Metric Klip and a dimension isn’t useful, then remove it. Less is usually more and there’s almost always a different dimension you can add that will have greater value.

The only exception to deleting a Metric Klip and starting over is if the Metric Klip includes stored history that’s not available anywhere else.

Learn more

Watch this short video for more information on effectively preparing data for your metrics and refer to the following, related Knowledge Base articles: