Every company is investing heavily in digital analytics – be it on implementing the right tool or hiring the best resources. According to a recent report, companies are planning to increase their spending on marketing analytics by 73% in the next three years. Marketing managers are expecting analytics to churn out incredible and timely insights that can help them in better targeting and optimize their digital marketing initiatives. Digital analytics, if done intelligently, can actually do just that, and much more.
Your website, blog, mobile app/site are all set and now you want to find out how your visitors are behaving on your digital properties. You would immediately Google the latest feature-rich analytics tool and add the tracking code to your website without giving a second thought. From the next day, you would expect some deep insights from the tool about how your visitors react. Sounds familiar? Many new website owners follow the same routine. But after a few months go by, they realize that the data they are getting is somewhat accurate but not good enough for basing decisions. Moreover, the data coming in from various channels is confusing and cannot be integrated to get meaningful results. They are not able to achieve the insights they are after and the analytics tool just becomes a dashboard that tells how many people visited and how many bounced.