If you’re regularly using tools for web3 data analytics or just data analytics in general, you must have seen a lot of “ACTIONABLE data” marketing claims. Did actionable become a buzzword? What does it actually mean?
It’s pretty self explanatory – actionable data is data that you can base your decisions and actions on. Is there more to it? For actionable not to be a buzzword you need to actually know and remind yourself of what that word should mean.
Raw data vs. actionable data
Raw data has its uses like data science and deeper research. There are vast amounts of blockchain data to crawl. In the context of most web3 projects and games in particular, it only becomes useful once you analyze and interpret it. And analytics are only as good as what you do with them.
For data to be actionable it needs to be shown in a way that can be easily utilized to drive decisions. It needs to be presented in the right context. It should be accurate and timely so that the right decisions can be made. When there’s a need to make decisions fast it should be easily accessible and simplified enough to make it clear to the end-user.
There is more to the process of using actionable data. To have more utility that process should not be a straight line: raw data – actionable insights – actions based on it. Ideally it should be a loop: crawling data – analyzing it – getting insights – testing them in action – then getting more data to measure the outcomes and continue the loop.
In a business context actionable data should be used in a process and a system of continuous discovery and optimization. That system should include tools to make it easier to implement decisions.
Moonstream.to provides an infrastructure that is built on actionable data. More specifically, an economic infrastructure for web3 projects and games. We start by crawling a huge amount of raw blockchain data. We organize and interpret it. We make it so developers and analysts can leverage it to drive decisions.
That infrastructure is built on data but it does not end with it. We also create tools that make it easy to build and sustain healthy economies. Gather insights from Moonstream data analytics. Use our tools to act on it and deploy on-chain solutions. Measure the impact, learn, and optimize.
In the context of blockchain projects, actionable data also means secure operations. Catching exploits and fixing them fast is made possible by analyzing live data. It’s better when that data is easily accessible to the right people and is simple to understand.
Is actionable data a buzzword? Not if you really know what it should mean. Is having access to actionable data important? Absolutely.
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