This article was featured in the APRA Upstate New York newsletter. Used with permission.
In this blog entry, we cover specific fundraising issues and our analytics suggestions to solve them. We wrote this short starter list to help you explore how using statistics boosts your shop’s performance.
When starting a data mining project, we are often challenged by our management to “go do some data mining.” We can get stuck from there, unless the tool that we’ll use has already been chosen, like a screening service or a modeling vendor. Even then, making sure that we understand the question involved helps us frame how we set up the study and then what we do with the results.
For instance, “Find more prospects” sounds like a clear directive; however, the related study can take many forms. This Driven by Data post considers the underlying questions related to this one request.
The request, “Find more prospects for us,” can mean a variety of problem statements that are derived by understanding your business needs. Once you have established the underlying question, choose a good dependent variable for your study.
Tweet us some of the questions you’re trying to answer: @Staupell or leave a comment below.