# Strategy

##### The consultants at Kraken Data are rather unique as they have experience both as analysts as well as analytics engineers.

One service we provide for our clients is analytics strategy. In this service we work with you to define your Key Performance Indicators (KPIs) and the metrics that matter most to your business.

This allows us to put in place a solution that prioritises the reporting of the most important metrics for your business.

By understanding your business in this way, we are able to design and install a solution that speaks to your KPIs. We’ll provide a dashboard so you easily can see how you’re tracking against those KPIs.

### Why KPIs?

These metrics or indicators directly correspond to how your business makes money, or what expenses cost you money.

Here are some example KPIs:

- CPA (cost per acquisition) – this gives us the amount of money you’ll spend on marketing for each visit to your website.
- AOV (average order value) – What the average spend per order is on your website.
- Visit to order – Commonly referred to as the website [conversion rate](/content/what-is/conversion-rate/ "What is the conversion rate? The conversion rate is the number of conversions divided by the total number of visitors. So if a website receives 500 visitors in a month and has 100 sales, the conversion rate would be 100 divided by 500. This evaluates to 20%."/index.html).

By changing these ratios you can:

- Reduce costs or increase revenue.
- Drop your cost per acquisition, decrease cost (or increase the amount of visits to the website for the same cost).
- Increase your average order value, increase revenue.
- Increase your [conversion](/content/what-is/conversion/ "A conversion is the process of turning website visitors into customers or clients through various conversion tactics such as lead generation forms, click-to-call buttons, and e-commerce transactions. The goal of a web conversion is to turn website visitors into paying customers or clients and increase the return on investment (ROI/index.html) of a website. This is…") rate, increase revenue.

By adapting KPIs that directly relate to your business objectives, you can set targets and  track  how you are performing against plan. This is a much simpler and more powerful way to utilise your [web analytics](/content/what-is/web-analytics/ "What is web analytics? Web analytics is the process of analyzing the behavior of visitors to a Web site. The use of Web analytics enables a business to attract more visitors, retain or attract new customers for goods or services, or to increase the dollar volume each customer spends. Find out how to maximise your…"/index.html).

Most analytics agencies will review your reporting requirements and build a solution that reports on these requirements, but it’s difficult to use to understand your online performance against initiatives.