What is Web Analytics
Web analytics is the process of analyzing the behavior of visitors to a Web site. The use of Web analytics is said to allow a business to attract more visitors, maintain or attract new customers for goods or services, or to increase the money volume each customer spends.
Also read: Web Analytics Terms Dictionary fro Beginner
Web analytics is often used as part of customer relationship management analytics (CRM analytics). The analysis can include determining the probability that a given customer will repurchase a product after having purchased it in the past, personalizing the website to customers who visit it repeatedly, monitoring the money volume of purchases made by individual customers or by specific groups of customers, observe the geographic regions from which the most and the least customers visit the site and purchase particular products, and predicting which products customers are most and least likely to buy in the future. The goal is to promote specific products to those customers most likely to buy them and to determine which products a specific customer is most possible to purchase. This can help to improve the percentage of revenue to marketing costs.
So what is web analytics, then? It’s more or less answering these five questions, not individually, but holistically:
- Who is coming to my website?
- What are they doing (or better, what are they trying to do)?
- What is the gap between what they are doing and the idea?
- What are some concrete ways we can close the gaps?
- How can we get more of these people?
It takes the financial analyst months to answer a similar set of questions:
- What is this company worth?
- What are they doing to grow?
- What does the stock market think they’re worth?
- How does that compare with what it is worth: Is it a good buy/sell/hold?
Again, apparently simple questions, but they have to leverage a lot of knowledge, experience, and research to answer them.
Read also: Career in Web Analytics
Think about this at your office. No more reports that show visitor, page views, sales, or unique. Get real answers. Drive real decisions. Have real conversations. You should be talking about the business, strategy, marketing plans, technology issues, human resources boundaries, and rolling all of your web data into the context and limitations of the human race around you. Because there is the world around you. Everyone will be better for it.