After a not great week, I was cooling off in front of the 7:30 local news on the RTBF.
An interesting news-cover discussed the results of the measure of pollution quotas.
Following Kyoto, official instances set-up a measure system in order to determine whether polluting companies where meeting their maximum allowed quantity of for example CO2 emissions.
Apparently, they're all meeting their quotas.
This holds as consequence that the price of the CO2 stock, that can be bought on an official market if your company is exceeding the quotas, remains rather low. The graph shows price drop over the last month.
PointCarbon is the leading provider of independent analysis, forecasting, market intelligence and news for the power, gas and carbon emissions markets. They confirm the findings.
The WWF – World Wildlife Fund – concurs that emission rates are being met and that action should be taken based upon the results of these findings.
It reminds me of the recurrent questions I get regarding conversion rates from my clients…
1. Conversion rates are poorly defined today. The Web Analytics Association is doing a great and very tough work, trying to structure a very young business. Within a couple of months I think and hope standards will be more clearly defined, both on a technical and business level. Thus conversion should be very clearly defined through for example the description of the used formula and technical specifications.
2. Each company has its own business model, strategy and evolves within it's own market.
3. The available information is currently rendered by countries which have integrated Internet at a higher level.
Therefore, trying to use benchmarks or loosing time looking for benchmarks is waisted. Your business is your own and your formulas will be today only forged by best practices available, hopefully from your Web Analytics specialist.
The Kyoto agreement was set-up to make our planet a better world. They had to start somewhere so they set quotas that seemed reasonable. This has allowed countries to start to measure the quantity of CO2 polluting our planet. Now it's time to take action because the data is available and value is attributable. In short, I feel that companies are not paying enough for the caused externalities. Something has to be done!
Such a reflection is the basis of Web Analysis.
As long as you don't give value to the measured data, you'll only be engaging into Web Measurement.
The true benefit can only be found when your web analytics data holds a notion of value. That's when goals begin to be set and the fun starts 😉
Think about the consequences if the quotas had been set too high. Wouldn't the Kyoto agreement have suffered more resistance and thus not have survived?
The importance is to start measuring and in the beginning, you're not looking to know whether you're doing well.
You want to know, after having set-up the right base, if you can do better. Hopefully, by the time you get there, more standards will have arisen from the professionalism and the creativity of the WAA. We count on you, Jim!