New analytics: how to use it to the max? Julia Alexeenko Jun 20, 2018 Tweet Our new company panel has a plenty of features essential for your business. And some of them we love even more than others. Company analytics is surely one of them. Look, we’re super-excited about this tool, and we really believe these analytics data can bring your business to a new level. So let us introduce it. Actionable advice on data analysis included. First of all, where do you find company analytics? It is the second tab in your company panel. All the data about your business performance is gathered and is really easy to access for every period (day, month, year). Have a closer look at every diagram and its value for your company. Orders total This chart shows your company’s total revenue from orders only. We calculate your “orders total” by summing up: The unpaid orders; The orders paid by credit card; The orders paid by terminal; The orders paid with cash. You can see the exact amount of money coming from each source by moving the pointer along the graphs. Orders total statistics allow you to compare the amounts of revenue the business gets from clients, by payment method used. Based on the comparison, it’s easier to take business development decisions. Is the business going the right way? Are there things to change? Are there unexpected breakthroughs? Total revenue This diagram shows the total revenue of your company (for a chosen period), gained from the drivers and the passengers. It is calculated by adding up: Card transactions made by passengers; Card transactions made by drivers (all driver top-ups); Manual top-ups of driver accounts. Move the cursor over the diagram to see specific numbers. How is “Total revenue” different from “Orders total”? “Total revenue” is company revenue from the orders + all revenue from the drivers; “Orders total” is company revenue from the orders only. As “Total revenue” shows the pure real money coming to the company within the chosen period, it is a good bookkeeping tool. Now you can easily compare the income flows of the company. You can see if the revenue from a particular source is large enough, is it growing or declining. Driver response time vs. Clients waiting time This chart demonstrates how many of your clients were ready to wait for a driver confirmation, and for how exactly long. On the y-axis, you see the number of bookings. On the x-axis, the seconds of the driver response time are shown. Place your cursor at any point of the graph to get specific information on how response time correlates with orders being cancelled by passengers and how many jobs were accepted by drivers within a particular response time. This graph is meant to help you define the business goals more precisely. For example, it makes clear what optimal response time is needed to keep both clients and drivers happy. Orders In this diagram, the orders company got in a given period are ranked by their status. On the horizontal axis, there are the days (months, years). On the vertical one, the number of orders. This diagram accumulates data about 4 order types: Completed — orders drivers accepted and completed (paid and unpaid). Cancelled by driver — orders drivers cancelled (for any reason). Cancelled by passenger — orders accepted by drivers but cancelled by passengers (for any reason). Cancelled by operator — orders accepted by drivers, but cancelled by a dispatcher (for any reason). Knowing this all makes well-targeted problem shooting for the company easier. Imagine: if all the canceled orders are coming from the drivers, it’s probably time to hire more drivers because. Another case: with enough drivers, a lot of orders are being canceled. This may be a good time to work on increasing drivers’ engagement or teach them to work with the Driver app properly. Referral coupons Referral programs is a tool we love almost as much as analytics, really. This is why referral programs on TaxiStartup come with a whole bunch of statistics. This very chart is adds some essential data to the statistics on each referral program you launch. This doughnut illustrates all your company orders made within a certain period with and without referral coupons. Orders without coupon — orders completed and paid without a referral coupon. Orders with coupon — orders completed and paid with a referral coupon. Let the pointer hover over the diagram to see specific numbers. This chart shows if people react to your referral program efforts. It can also be used to understand which promotion channels are the most productive for a referral. You can compare the data from different periods to see which marketing approach works better. Booking sources This one is simple: all orders, split by source, for a given period. “Partner apps” — orders from apps of other taxi companies on our platform (if you allow “service for travellers” in company panel). “Android” — orders accepted from Android versions of your app. “iOS” — orders accepted from iOS versions of your app. “Web” — orders accepted from a web application of your company. “Taxi Butler” — orders accepted from Button application. “Dispatch panel” — orders accepted from your company dispatch panel. “Dispatch API” — orders accepted from company dispatch API. “Unknown” — orders accepted by drivers from unknown sources. The number of bookings from each source become visible when you move the pointer over the chart. Booking sources chart gives you insights on which channels people use to interact with your Passenger app. It means now you get to know: Which platforms are the most profitable to work with; Partnership with which companies (in case of working with a partner dispatcher) is the most successful; What platforms need more attention in order to bring more profit. Driver median response time The chart shows how much time the drivers take to confirm a job or to bid for a new offer. The calculation is based on the confirmation time. Confirmation time is the “offer bid time of a driver” minus “offer staying open time”. The x-axis shows the date, and the y-axis the response time. The median is more precise than “the arithmetic mean”. While a mean is the sum of the response time of all your drivers added up together and divided by the number of your drivers, a median is the middle value separating the greater and lesser halves of a data set. Working with a median allows avoiding statistics spoiling by one or two lazy drivers Sometimes long response time is a result of no notifications send to the drivers. Sometimes it is a consequence of low engagement level of the drivers: in such case, you may think of motivating the drivers or imposing sanctions for cancelling jobs. Sometimes it means it’s a right moment to hire more drivers. Assigned vs. Missed orders This doughnut elaborates the previous one and shows how many orders your drivers have accepted or missed within a certain period (day, month, year). “Assigned orders” — jobs accepted by the drivers. “Missed orders” — jobs not assigned to any driver within the set proposal time (no matter what reason). As you’ve already guessed, the exact numbers are shown as you move the pointer along the graph. Generally, the fewer orders are being missed, the better for a taxi business. If a company is missing a significant amount of orders, it’s time to review the whole business model critically. You come to more business insights if combine data from two or more charts. For instance, “Driver median response time” and “Orders” diagrams complement each other perfectly so you can see if cancellations by drivers are related to low engagement level of the drivers or are simply conditioned by not having enough fleet. As you see, there’s a lot to company analytics. Try it out to see it’s really simple and pretty to use. Now you’ve got the most powerful arsenal to make growth decisions for your business.