One thing companies don’t realize when they brag about revenue and sales is that they give away a lot of their secret sauce. For example, I build (have someone build when it’s out of my skill set or I’m being lazy) weird algorithms and formulas for fun regularly (mainly because it is fun to mess with colleagues and friends) and because it gives me an advantage in the business world.
Whether it is creating a plan to destroy a client’s competitor, pitch a new affiliate or pitch a potential client who won’t share data, I can get solid estimates by simply gathering some of the data points they post publicly and weighing them out with a series of if/then, and/or statements and weights. The company is usually shocked when I start reading the results to them, mostly because they don’t realize how simple it is to do this. The best part is that most of it is publicly available, you just need to put the pieces together. So why did I just ramble for two paragraphs?
Someone recently said, you can’t tell my AOV and I won’t share it. If you know me well you know I love a challenge, so here’s what I did.
Note: I have not created this algorithm….yet….but I might in the future. =0)