In this article, we will explain how to configure an Advanced Metric.
What is an Advanced Metric?
An advanced metric is a custom metric that is calculated based on specific conditions being met. Once these predefined conditions are satisfied, a mathematical calculation is applied to derive the metric.
Configuration Parameters
There are two parameters that determine the configuration of an advanced metric: filters and metrics.
Filters:
Filters determine the condition under which the advanced metric is applied. This filter value is determined by the attributes of the data set. Examples of such attributes include "Campaign Name," "Ad Tactic," and "Region."
Metrics:
Metrics determine the base upon which the mathematical calculation is applied. This rule is defined by applying one of the four basic mathematical operations (addition, subtraction, multiplication, or division) to the metric.
How to configure an Advanced Metric in MSIGHTS Reporting?
Step 1: Creating the Parent Metric
1) Access the Advanced Metric Configuration:
Click on the Left Panel and go to the bottom of the menu under 'Data Workbench.'
Click on 'Advanced Metric.' A pop-up interface to configure the Advanced Metric will appear.
2) Initiate the Creation Process:
Click on the 'Create' button in the top right of the pop-up.
Select 'Conditional Math' to go to the configuration page for setting the parameters.
3) Configure the Parent Metric:
Set the Name:
Enter a name for the Advanced Metric.
Select the Exchange Data Set:
Choose the dataset where the advanced metric will be created. (Example: "MSIGHTS Standard Transformed Data Set (All Digital)").
Define the Condition:
Click on 'Add Filter Criteria' and select the condition attribute. (Example: "Region").
Select the Main Conditional Math Metric:
Choose the base metric to which the mathematical rule will be applied. (Example: "Media Spend").
Configure Additional Properties:
Check the first checkbox if you want to include all Child Metrics in the Exchange Data Sets. By default, only the Parent Metric will be displayed.
Check the second checkbox to directly access the interface for creating Child Metric. This can also be done after the Parent Metric is created (refer to Step 2).
4) Save the Parent Metric:
Click "Save." The Parent Metric is now created.
Step 2: Creating the Child Metric
1) Access the Child Metric Interface:
On the main interface, click on the bullet to the right of the Parent Metric.
Select 'Add Conditional Math Metric.'
2) Configure the Child Metric:
Set the Condition:
Choose the condition to apply the Advanced Metric via the filter values. (Example: "APJ").
Define the Mathematical Rule for the Factor Metric:
Choose one of the four basic mathematical operations (addition, subtraction, multiplication, or division) to apply and set the value. (Example: multiply by 0.5).
3) Save the Child Metric:
Click "Save." The Child Metric is now created.
By following these steps, you can effectively create and configure both the Parent and Child Metric of the Advanced Metric to suit your specific data analysis needs.
How to select the Advanced Metric and view the result
Steps to View the Result:
Create Any Widget:
Begin by creating a widget within your data visualization or analytics tool.
Select the Relevant Data Set:
Choose the dataset that includes the Advanced Metric you created.
Select the Advanced Metric:
In the Metric parameter of the widget, select the Advanced Metric you previously configured.
Review the Result:
Analyse the widget to view the results of the Advanced Metric.
Example Analysis:
In the example, you will see that the "Agency Fee - Demo" for the APJ region is half of the media spend due to the conditional values set. The rest of the regions will have zero values because a relevant Child Metric was not created for them.
To assign values to the remaining regions, you may repeat the steps to create Child Metrics and assign appropriate values to them.
Additional Tips when creating Advanced Metric
Multiple Filters:
You can select up to 5 filters per configuration.
Ensure the set of filters applied to each Factor Metric is mutually exclusive. This prevents different calculations from being applied to the same line item, ensuring accurate and unambiguous results.
Convert Percentages to Decimals:
When applying percentage-based calculations, convert percentages to decimals. For example, convert 4% to 0.04 before applying it in your metric calculation.
Complex Mathematical Operations:
For complex metrics that require more than 5 filters, multiple mathematical operations, or different base metrics, please contact MSIGHTS support for assistance.
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