Data Analytics is all about finding meaning in numbers from various sources like websites, mobile applications, among others. It combs through huge amounts of raw statistical information, finding patterns, analysing trends and testing theories, all measured with KPIs (Key Performance Indicators).
To give you the breakdown, analytics can tell you directly a variety of things about your business. A few examples.
- How many people visited your website.
- How long they were there for and how many pages were visited.
- Your overall cost, the average cost per result and how much of a return on spend value you’re getting.
It’s the process of examining data sets to draw conclusions and help enable businesses to make management decisions such as:
- business efficiency
- customer Service.
Ultimately, helping you make the best of your business and to find what areas need more improvement over others.
You can also use analytics to get a better understanding of your customer. Find out:
- what your customers find most engaging
- what interests they have
- where they’re located
- when they’re most active on your site.
With these, you can get better at targeting towards new and existing customers.
There are a number of platforms you can use to help track the analytics of your business. The most common is Google Analytics, which is free! In Google Analytics, you can track other platforms your website is using, such as Facebook Ads, Pinterest Ads and Google Ads.
Arguably, the best part of data and analytics is how you can capture customer behaviour that is much harder to get offline. You can go from the beginning, how did they become aware of your website, see how they engaged with your website during their consideration phase and what kind of purchases it resulted in. But you don’t just have to track sales, you can also track:
- phone calls
Check out our short video about data and analytics.