Web Analytics

Identify Business Objectives → Identify Key actions That led to Business Objectives → Identifying Metrics that would help analytical people to measure key actions

The term Web Analytics means the study of impact of a website on its users. Web Analytics involves understanding the behavior of visitors of website and acting based on its understanding. Web Analytics is becoming increasingly important to all businesses. Online spending is an increase and more and more people are using web for pre-purchase research. The key concepts of web analytics are interpretation of web log data and reports statistical estimates. It involves the study of the user’s online experiences so as to find ways to improve. This involves studying the behavior of the user regarding:

  • How they entered the site?
  • What are the keywords used in search engine to find the page?
  • How long they were in each of the section?
  • Which were the links within the site and they clicked on?
  • How much time they spent on their website and more?

How does web analytics help?

By finding out the users online experiences, a business executive can utilize web analytical solutions to suggest activities that affect customer behaviour.The activities include advertising, marketing campaigns, site design, element placement and merchandising, cross-sell and up-sell opportunities, retention and loyality.Some of the advantages that companies can realize from web analytical solutions include.

  • Optimization of site design to generate revenue and gain customer loyalty
  • Visitor segmentation depending on the technology used , the visitor behaviour, purchase patterns and registration data.
  • Increasing the conversion rate from browsers to buyers by developing the content and structure of the website
  • Analyzing the success of online  marketing initiatives by comparing own results with the competitors results
  • Finding out effectiveness of each Internet marketing tool and spotting the effort that gives the best results as well as the one that pays the least. This helps to develop the sections which are not doing well.
  • Probing on the reasons why visitors leave a site before a transaction is completed.
  • Analyzing the trends to help compare the periodic changes in trends{daily, weekly, monthly and yearly}.

Cloud Computing-The Emerging area in Analytics

Cloud computing offers a powerful and revolutionizing way for putting Data Mining models to work. It is a road map for science and industry to leverage the power of predictive analytics. Cloud computing will allow us to lower the cost for Data Mining and provide a roadmap for predictive analytics to take their place in new applications and industries. The cloud will become a channel for software and service offerings, making deployment and execution faster and easier, through minimizing the common IT overhead on one side or by providing unprecedented scalability in other cases.

Conclusion

Business Analytics gives you the insight you need to stay in control, sharpen your competitive edge, and focus on your business. Providing the tools to help you find the meaning behind customer, transactional, finance, sales performance, and other data, Business Analytics empowers you make confident decisions, gain business insight, and make faster, better-informed decisions. With Business Analytics many organizations are making increased profits in their business. It provides an incredibly insight into their business activities. SMEs must adopt Business Analytics in order to keep their business on   a systematic track. Moreover the concept of cloud computing is becoming quite popular and is bound to have a positive impact on the business world.

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