So you have got the coveted ticket and waiting with bated breath to board the grandeur-filled digital analytics train. What we mean is that you have already deployed an analytics tool and are now about to flag off your data-driven journey. But, clouds of apprehension may still be floating in your mind; you are skeptical about whether the train will hit the destination. To say it with a different combination of words, will you get the results you want to achieve by this type of simple deploy-it-and-then-forget-it approach? Well, this can help you to some extent. However, with increasing complexities in business and the data universe in an infinitely expanding mode, your situation demands something highly well-structured. You need an analytics center.
For the time being, think of yourself as a commander who is leading a large contingent of soldiers in the battlefield. No doubt, you are gutsy, hard-boiled, and have that killer instinct to mince your opponent. But hey, do you have the right intelligence about where your enemy excels or what is their Achilles heel? If not, then you are unfit for the battle. And, the best tactic left before you is to beat a hasty retreat or die. Battles can only be won when you analyze every bit of information about the enemy and then strategize accordingly. Now, draw a parallel between this and your digital-heavy business. Here also, you will have to gain insights into the quirks and foibles of the traffic that comes to your digital properties: desktop website, mobile website, or mobile application. However, it’s not as easy as it sounds; you need a full-blown digital analytics setup to analyze the data captured from various data points.
Our enterprise clients always ask an important question at the beginning of every financial year: how should we smartly plan our upcoming financial year from a digital analytics perspective?
If we go a little bit deeper into this question, what they are actually trying to ask would include:
- What kind of initiatives they should run in the upcoming financial year?
- What kind of short-term and long-term goals should they have?
- What initiatives will drive better engagement and conversion rates?
- What kind of budget do they need to set aside to pursue these initiatives?
- How should they go about prioritizing these initiatives?
Changes in the digital world and development of new technologies directly have an impact on the digital analytics space. Businesses are perpetually questioning all the decisions they make. They want to optimize each process, reduce the time taken for every activity, generate the maximum returns from their investments; and analytics is the key that can unlock all these benefits. But to deal with the data deluge, organizations are shunning the traditional ways and increasingly opting for actionable and quick analytics at every step of their digital journey.
If you wish to acquire more customers, generate more sales or identify a new market segment, you need a comprehensive and powerful data analytics tool to assist you. Such a system can provide an almost limitless supply of data and insights, which you can use to maximize your ROI.
While there are a number of analytics software programs, two of the most popular ones are Analytics Premium from Google and SiteCatalyst from Adobe. Each tool has its sets of strengths and weakness, a few of which have been described in great detail in the article.
After basking in the glory of success the whole of 2014, digital analytics has rung in the New Year with expected fanfare. And as analytics experts are opining, in 2015 it will further consolidate its position in the data-powered corporate world. One of IDC’s 2015 CIO predictions gives us a great point to reflect on the impact of analytics. According to it, by 2018, 30% of global enterprises will be adopting a company-wide analytics strategy.
At the beginning of every year, Nabler comes up with some exciting trends to watch for in the upcoming year and how the online businesses should prepare themselves to capitalize these wonderful opportunities and improvise their macro indicators. So, here are the top 5 trends to look for in the year 2014 from a digital analytics perspective:
Ten years is a not really a long period of time, but when it comes to technology it can be a very long period indeed. Nabler is celebrating its tenth anniversary and I feel privileged to have been a part of this wonderful journey for the past six years. During my time here at Nabler I have not just witnessed the growth of Nabler from a small team to more than 100 people today.
It is February 2014, and after the hustle and bustle of the beginning of the year, everybody must now be wondering about what all they should look forward to in the digital marketing space during the course of this year. Among the many initiatives and developments that took shape in 2013, most are expected to continue at a faster pace.
A Universal Challenge
Having worked with clients for more than five years in the field of digital analytics, I have noticed that one of the major roadblocks towards wider acceptance and use of analytics data is the lingering doubt about the data’s accuracy. In reality, managers would accept the reports we churn out, however, we know, based on the decisions they are making, that they have not wholeheartedly accepted them. Let us face it, after all, why should the decision makers trust the data we are presenting to them? In all likelihood, the Web Analytics System (the people, platforms, and processes) exist and work as a separate unit, rather than as part of the data user’s team.