Funnel Analysis is a process of analyzing a series of events that leads to a defined goal like advertisement to purchase, journey of online shopping or candidate recruitment. The chart is called funnel as it starts with a broad neck and ends with a narrow neck, which ultimately looks like a funnel.
Funnel Analysis in Sprinkle
Funnel Analysis can be achieved in Sprinkle tool as it supports the Funnel chart in the segment label. The user can choose different types of funnel analysis according to the business requirements.
The steps involved in achieving the Funnel Analysis in Sprinkle Tool are as follows
1. Collection of Data from various sources as required
Analysts need to select any datasets where a fixed number of customers or candidates go through different processes to meet the end goal. For example- If we take a website data, the website owner would be keen to know at which step the users are defaulting. This will help the owner understand the problem and find solutions.
2. Cleaning of data and creating Fact tables
In this process the user can clean the null values, do transformations, enrichment of data and follow all the steps to prepare the data for modeling. Users can join more tables according to the business requirements.
3. Modeling of Data
Sprinkle allows users to create a model with few clicks. For any funnel analysis we need to find a distinct count of users who are going through different processes while visiting a website. The user needs to have the events column which is carried out by the users in the process of visiting the website. This event column will be chosen as dimension in models.
4. Funnel Analysis Report
For creating the funnel analysis report users need to select the event as dimension, count of customers as the measure and then sort the measure column in descending order.
Now users can choose the funnel chart and add the labels and other requirements.
Funnel Analysis is easy to achieve with Sprinkle Data. The most important aspect of a funnel analysis is figuring out the funnels to understand the quantitative understanding of the website. Funnels help in understanding where there is a drop off and how we can achieve them. Sprinkle helps customers to achieve these important parameters with lesser code with use of transformations -> models -> report -> chart.