Importance of Digital Analytics for Online Businesses

Posted by Team Seller Drive on
Digital analytics involve analysis of both quantitative and qualitative data from the
business and competition towards driving of consistent improvement associated
with online experience, which both potential customers and customers get that result in
required outcomes.
Big Data and Inbound Marketing Aspects
During the modern information change, data has an important role to change the game.
Marketing professionals of small, medium and large business ventures often here a
common term Big Data, which indicates that data becomes a necessity for every
marketer, especially the inbound marketing professionals and insights offered are of
important, profound and available readily to all, who have knowledge about where
exactly to look.
Requirement of Data
Data collection and analysis in huge volumes via internet provide highest possible
insight into desires, tastes, preferences and lives of customers. Moreover, it provides
insight into business strategy and practices efficacy, which gives concrete yet actionable
information on basing important decisions in business contexts myriad.
Role of Google Analytics
Google Analytics play a major role by providing a host of different tools directed towards
helping both experts and novices of digital marketing sector to make them understand
each concept and approach their respective targeted demographics.
Analytics Cycle
Digital analytics cycle moves ahead parallel to various other types of marketing activities
to give businesses with real-time yet valuable information. It primarily consists of four
major steps, which are-
 Measure
Main objective in this case is to accumulate qualitative and quantitative data required
for individuals to understand about their business operations in the best possible
manner.
 Analyze

Here, individuals have to extract the necessary yet actionable information as well as
identify reasons for all sorts of anomalies present in the date. This will include
attribution, segmentation and competitive analysis. You have to put the necessary data
in the context with the help of competitor activities and key industry benchmarks.
 Report
You should digest and dissect the collected raw data, process it properly and present the
same with actionable and clear information to come up with sound business decisions.
 Test
Test involves finding out the best possible solutions to identified problems during the
complete analysis. Testing eliminates all sorts of personalized opinions associated with
the decision-making procedure and thereby, helps in discovery of key improvement
opportunities and creation of actionable recommendations.
According to experts, analytical cycle operates closely with related with various other
marketing activities, such as ROI, monitoring, actionable insight, unbiased action-based
recommendations and driving of consistent improvement in the business.
Digital Analytics Benefit
 Major benefit associated with digital analytics under digital marketing is the reach and
influence of each campaign, which marketers may track and monitor easily at almost
every possible stage. This would further allow brands to get proper understanding of the
overall effectiveness of advertisement campaigns and that too without breaking bank on
research of customers. Within digital medium, brands will have the opportunity to
access large numbers of tools to keep a proper track on response rates of customers and
measure either success or failure present on real time basis of each campaign. In
addition, analytics has prime role to guide companies in planning of better as well as
successful marketing campaigns for future.

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