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What is Web Analytics?
Analytics
is the analysis of data. In business scope, it is analyzing your business data
and your competitors’ data for continuous improvement. Examples of
analytics are used in everyday life as well.
If
you've ever looked at how many people have viewed your Instagram posts, or how
many people have reacted to your tweets, or even how many steps you've taken in
a day, then you're already using analytics.
There are four different types of analytics –
2. Diagnostic Analytics – It answers the question of why that happened.
3. Predictive Analytics – It gives us an idea about what will happen if you change your business strategies.
4. Prescriptive Analytics – It helps you in applying the aforethought change in strategies.
Why Should You Opt for Analytics?
Analytics will help you with strategic marketing decisions with the aid of science,
data, and facts. Before data analytics was popular, all decisions were made on the basis of the knowledge and gut feeling of the CEO and other authorities.
What Can You Achieve Through Web
Analytics?
There are four different objectives that you can measure in your business -
2. Online information and support - You can see how many users visit your website or how many clicks does it take them to get to the information they require. This information can help you build a better user experience along with a better brand name.
3. Lead generation - It is how you can bring users to your website. For example, through adverts, Google search, through friend recommendations. For each of these different channels, you can measure the number of visitors and how much time do they spend on the website.
4. E-commerce - This is much easier to measure because you can see how many customers are actually buying the products.
Conversions and Their Role -
Conversions are the key metrics used in website analytics. It refers to any activity on the website which might be important for the success of the business. It is good to know how many users visit your site but it is better to know how they interact with your site. This could be by clicking on a link on a page or by purchasing a product listed on the site.
Types of Conversions –
Challenges in Web Analytics -
Timeliness of Our Data – While making decisions, the right data is required at the right time. If your data is even a little bit old, your decisions are going to be based in the past,
Quality of Our Data,
Availability and Integration of Data - There's a vast amount of data that is required but is not available. For example, data containing the income of the customers can be used for different campaigns, schemes, and discounts.
Important -
One
of the important things about analytics is that you don't achieve the right
results straightaway. Continual improvement is required. It is the process
consisting of gathering data, reporting, analyzing, testing, and then getting
some insights. Step by step process consists of -
Identify Key Performance Indicators (KPIs) – These are tangible and measurable details that specifies whether the strategies used are correct or are they against the mission statement.
Define your segments,
Set targets.
Google
provided analytics services, an online tool that measures website activities
and performances. You can easily apply it on your website and immediately there
is a vast amount of data to tell you who visited your website, where they're
headed to, how long do they stay on the page and the different types of people
who use your website.
As
Google Analytics is a free online tool, it is very convenient to use. Using
Google Analytics, you can analyze if any new campaign has driven more traffic
on your website.
Written by – Ritika Singh
Edited by - Bushra Makhdoomi
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