Last week’s IABC World conference saw communicators from across the globe descend on New Orleans for a fantastic week of learning, insights, networking and fun.
New Orleans is many things but dull is not one of them. With that in mind, there was plenty of beads, live music, food and humidity.
Oh, and a giant stilt-walker covered in $100 notes.
To tie in with the launch of Newsweaver’s new analytics product, we challenged conference attendees to test their measurement skills by guessing how much money was being carried by our stilt-walker.
Not surprisingly, we saw some extreme variance in the guesses submitted. They ranged from a low of $500 and went all the way up to $4.2 million.
The correct amount was actually $90,500 and our competition winner guessed $91,100. Well done Alyssa, your $250 gift card is on its way.
Now that the dust has settled, we’ve had a chance to review the array of guesses. In a chance coincidence, the average of all guesses was exactly double the correct answer ($180,100).
Both the median and mode of the range were $65,000 and an estimate between $60,000 and $70,000 seemed to be particularly popular.
For those that attended the IABC, how did your guess compare to others?
The below graph highlights the distribution of guesses – you will note that the majority of guesses were less than $90,000 with a smaller number of outliers at the higher end of the scale.
While it’s hard to define a best practice methodology for something as obscure as this, those that were most successful appeared to follow a similar approach by quickly estimating the quantity of notes (by scanning the arms, legs, torso and peripherals) before then multiplying by 100.
So what have we learned?
Well, as if we didn’t know already, measurement is hard. And it’s especially hard without data. By following a ‘gut’ feeling or a ‘hunch’, you leave yourself open to guessing $500 or $4million.
Newsweaver Cross-Channel Analytics gives communicators the power of data. Our new tool lets communicators easily track the impact and value of their communications across all digital channels – intranet, email and video.
The c-suite typically love data and the ability to move from an ‘I think’ conversation with your senior management team to an ‘I know’ one means that you can expect more recognition, more budget and more resources. Without this data, it is impossible to truly quantify the value of your communications.
Explore Cross-Channel Analytics yourself by trying our no obligation interactive demo today.