Web analytics is the method employed to get a full insight of businesses and taking the best out of better in your online business expansion. It is a most often used term, so let us discuss the meaning of the same.
Web analytics is the measurement, collection, analysis and reporting of web data for purposes of understanding and optimizing web usage. A very short and formal definition right?
However, Web analytics is not just a process for measuring web traffic but can be used as a tool for business and market research, and to assess and improve the effectiveness of a website. Web analytics applications can also help companies measure the results of traditional print or broadcast advertising campaigns.
It helps one to estimate how traffic to a website changes after the launch of a new advertising campaign. Web analytics provides information about the number of visitors to a website and the number of page views. It helps gauge traffic and popularity trends which is useful for market research.
That’s enough for the formal definition part, let’s move further towards the role and working of the web analytics.
Well, there are a lot of things to discuss under the umbrella, but we’ll keep it short and simple. Most web analytics processes come down to four essential stages or steps, which are:
1. Collection of Data: This stage marks the very beginning of the whole analytical process. This stage is the collection of the basic, elementary data. Usually, these data are counts of things. The objective of this stage is to gather the data.
2. Data into Information: Data is the raw form, which usually can be unarranged and generally would not specify a meaning for the user. So our motive should be, to collect the data and organise it so that we can get some meaning out of it and so we can form the data into information. This stage usually takes counts and make them ratios, although there still may be some counts.
3. Developing KPI: This stage focuses on using the ratios (and counts) and infusing them with business strategies, referred to as Key Performance Indicators (KPI). Many times, KPIs deal with conversion aspects, but not always. It depends on the organization.
4. Online Strategy Formulation: After your things are done and ready to go, you should be ready with the plan and goals to proceed further in the field of online marketing. Strategies should be ready and approved before you are actually implementing that plan. These strategies are usually related to making money, saving money, or increasing market share.
5. Experiments and Testing: A/B testing is a controlled experiment with two variants, in online settings, such as web development. The goal of A/B testing is to identify changes to web pages that increase or maximize a statistically tested result of interest.
These are the certain areas of function of the web analytics. But do you know that there are two categories of web analytics, which are:
· Off-site Web Analytics- It refers to web measurement and analysis regardless of whether you own or maintain a website.
· On–site Web Analytics- It is the most common, measure a visitor’s behaviour once on your website. This includes its drivers and conversions.
There are many terms related to the web analytics which we’ll be defining separately in further articles. Let us see some of the advantages of the web analytics.
ADVANTAGES & SERVICES
· Know your visitors- You can identify the geographical information of your website visitors using their IP address. By discovering where your visitors are located, you can target the appropriate areas.
· Track where traffic is coming from– This will help determine where it is best to invest your marketing time and budget.
· Gauge the success of other marketing activities and see your match rate rise.
· Know exactly what your customers are looking for- With insights, you can see the levels of traffic and which are your most popular web pages.
· See where you are losing customers– A bounce is when a customer visits one page and then leaves without taking any further action or viewing any other pages. This can be clearly seen and broken down by times of day, so that you can see which pages they viewed and the time that they were there.
· Find out how to optimise your website– See which device and which browser is being used to view your site. This feeds back vital information that can be considered when redesigning your website.
· Set Goals– Before performing the final implementation, the goals has to be set and finalised so that the plans work well to achieve the aimed goals.
· Curb Your Addiction– Checking your analytics regularly is a bad habit, plain and simple. There is no apparent benefit, in my opinion, to checking your analytics on a daily basis. At weekly or monthly basis, you can have a look at the overall summary of the performance and working of your website.
These are the total working and implementation of the Web Analytics, so if you really want to succeed and be dominant over the market, you should surely apply the Web Analytics to have a better future of your business in the market.