About Action metrics
Action Metrics helps and supports startups to harvest their data and turn it into valuable information to improve operations, fundraising, and growth. It is founded by Melinda Elmborg (firstname.lastname@example.org), an expert in data-driven entrepreneurship, who previously worked as a Business Intelligence Analyst and in VC at Daphni. Today, Action Metrics coaches startups on which metrics that matter or join the startup as a freelancer to build dashboards.
Artboost is a marketplace where artists can sell their art and where consumers can find unique art pieces. When the team first met Action Metrics, their reporting was unorganised and mostly on an ad-hoc basis. They had a dashboard in their back office, but it didn’t help them understand how their actions affected their performance, so it was rarely used. The broken data analysis system had an effect on the decision-making process, that mostly circulated around advise from people in their network, guesses and lengthy discussions among the founders.
Melinda Elmborg from Action Metrics joined the team during a month as a freelancer to help Artboost organise their data and reporting. She built dashboards based on the company’s KPIs and metrics in a tool showing the live performance of the company. The tool became the data centre of Artboost where data from Facebook, Google, Intercom and their own database came together which gave a clear picture of the state of the startup. Four dashboards were created for different purposes:
Overview dashboard to share with existing investors
Traffic dashboard to optimise marketing campaigns
Conversion dashboard to optimise the performance on site
Artist dashboard to follow the artists' activities and the stock of art pieces
The project also included correlation studies, identifying underlying behavioural patterns among the users.
"Action Metrics was instrumental in our process of becoming a data-driven business. Following the project, we started to have more data-based discussions rather than opinion based discussions. It has helped us to alter the mindset and the mentality of the company culture, making the probability of our overall success higher."
- Mikkel Steen, CEO, Artboost