In this lesson, you’ll learn:
There are several kinds of metrics inbuilt into your TaxiStartup-powered system.
You can access them via your My hub. Just as you see, the Analytics tab is the second on your menu.
Here are the types of statistics we sum up and visualize for you:
All the graphs are actionable: when you place a pointer on the graph, it shows you more detailed information.
Let’s go through all of them and see how your business can profit from having these data.
This diagram shows the orders your company got in a given period, ranked by their status.
On the horizontal axis, you see the dates marked, and on the vertical one, you’ve got the number of orders.
The Orders histogram operates with 5 types of orders:
The “Booking sources” doughnut chart shows the orders of your company split by the sources for a given period.
As you move the pointer over the image, you see the number of bookings coming from each source.
Yet another doughnut chart is there to give you more insights on referral programs. This chart is an extra to the statistics on each referral program you launch.
As you see, the doughnut illustrates all your company orders with and without coupons, made within a certain period.
Let the pointer hover over the diagram. You will see the particular numbers.
Driver median response time
This bar chart shows how much time driver spends to confirm a job or to bid for a new job offer. It is calculated as based on the confirmation time.
Confirmation time is “offer bid time of a driver” minus “offer staying open time”. The chart visualizes the median of confirmation time of all your company drivers. The x-axis shows the date, and the y-axis the response time.
The median is more precise than “the arithmetic mean”. The mean is the sum of the response time of all your drivers added up together and divided by the number of your drivers. The median is the middle value separating the greater and lesser halves of a data set, which allows avoiding statistics spoiling by one or two lazy drivers.
Assigned vs. Missed orders
And a doughnut diagram again! (We simply love them:))
This one illustrates how many orders your drivers have accepted and missed within a period given.
Same as with the referral programs graph, you can point at it and see the numbers.
Driver response time vs. Clients waiting time
Here you’ve got a stacked bar chart demonstrates how many of your clients were ready to wait for a driver confirmation, and for how long.
The y-axis shows the number of bookings, while the x-axis has seconds of the response time marked on it. If you place your cursor on any place of the graph, you will get specific information on how certain response time corresponds with cancellation by passengers and how many jobs were accepted by drivers with a particular response time.
This diagram is made to show you the total revenue of your company (for a chosen period), gained from all drivers and all passengers.
The total is formed by summing up the following data:
When placing the cursor on the diagram, you will see the specific numbers.
This chart shows your company’s total revenue from orders only. The difference between “Orders total” and “Total revenue” is that:
Orders total is calculated by summing up the following data:
If you move the pointer along the graphs, you will see the particular amount of money received from every source.
Next to the data you can see in your My hub, you also have access to Facebook Analytics for apps.
That’s a lot of data, right? Now, let’s move on to understanding what to do with all these beautiful visualizations!
Orders statistics show how many orders your company is missing for different reasons. This enables well-targeted problem shooting for the company. For instance, if all the canceled orders are coming from the drivers, it’s time to work hard on drivers engagement or to hire more drivers because there is a possibility your client base is growing quicker then your fleet.
Booking sources analytics shows you one of the most important things: which channels people use to interact with your app.
Basically, this diagram allows to deduce several things, essential for the business:
Referral coupons statistics show how many orders were done with coupons. First of all, it shows if people react to your referral program at all. This information can also be used to understand which channels of promoting a referral are the most productive for your business.
You can compare the data from different periods, which makes the comparison of marketing approaches possible (and easy).
Driver median response time is telling about how active and devoted the drivers are. Normally, the quicker they react, the better the reputation of a company is among the clients. 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 positively or negatively motivating the drivers.
Assigned/missed orders tab is very simple. The fewer orders are missed, the better. Basically, if a company is missing a significant amount of orders, one has to review the whole business model very critically.
Drivers response vs. Clients waiting time diagram illustrates two very important things. The first is, how long your clients are ready to wait for a driver to accept an offer. Another one is how long it takes the most of the drivers to accept a job. Based on this information, you can define your business goals more precisely. For example, you see what optimal response time you need to reach to keep both the clients and the drivers happy.
Total revenue tab is very much a bookkeeping tool. It gives you a possibility to 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, for example. Total revenue graph is showing the pure real money coming to your company for a period that you define.
Orders total is all about comparing the amount of revenue your business gets from different sources. Based on these stats you may take important decisions concerning your business development: if it’s going the right way, if there are things to change, if there are unexpected breakthroughs.
You come to more business insights if combine data from two or more charts. For instance, “Driver median response time” and “Orders” information can be juxtaposed to see if cancellations by drivers are related to low engagement level of the drivers or are simply conditioned by not having enough fleet.
Information is money — this is old but so true. See you in our course on acting upon your business data!