From the course: Marketing: Conversion Rate Optimization

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Understand your analytics

Understand your analytics

From the course: Marketing: Conversion Rate Optimization

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Understand your analytics

- [Instructor] Data is complicated, especially when it comes to statistics, but let's keep data simple for the purpose of this course. We want to simply know how do you understand if a variation wins or loses? First, let's address the concept of statistical significance or statistical confidence. If you don't have enough visitors in your experiment, then you could get misleading results because the test wasn't able to reach a true conversion rate. Statistical confidence is a way of mathematically proving that a certain stat is reliable. So the next question is, how do you know if you have enough visitors to reach this confidence level? Do you have a true winner or just an observed winner without a significant sample size? To get a true winner, most conversion testing tools say you want to reach statistical significance when you hit a 95% or 90% confidence level on your conversion experiment. So what does that…

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