Digital Analytics – What value can good data analysis tools add to business decision making?

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For any business gaining data on a company’s website is vital to improving the businesses marketing efforts. Information such as site traffic,bounce rate and exited pages help to indicate if your business is targeting the right people with the correct message, checking the usefulness of your company’s marketing strategy. Furthermore, this information provided by analytics helps to understand user behaviour and preferences.

The most frequently used business analytics tool used is google analytics. The application offers a range of tools to help new and existing businesses to enable novices and experts to reach their target demographics.

However gaining analytical information can sometimes fail to paint a correct picture of user behaviour. The information gathered does not tell the business why that user has visited the site and it does not tell business owners how engaged those users are.As a result it can be difficult to measure the extent to which the marketing strategy is working so it is difficult to judge if any changes need to made.

One of the main benefits of using data analytics is that it helps to develop a good strategic business plan and allows a business to benchmark future goals. The whole business process can be optimised over time by using more innovative way to reach users, so in the eyes of the user the business is differentiated from other businesses.

Analytics applications can also help a business to see the trends influencing users. Changes in consumer wants,economic trends and demographic shifts can all be analysed by an analytics application. Having a knowledge of what factors drive users can help to improve a businesses decision making process, ensuring the business does not waste time and money on a strategic plan which is out of date and not matching the current trends in society.

Overall data collection and analytics provides a greater insight into user lives,economic trends and user preferences and desires. For a business, analytics is the main component of a business strategy as without having any data on the target market there is no way to measure if the business is becoming successful. An analytics application provides concrete actionable information on which to base important decisions in a myriad of business contexts.

Below is a link to a google analytics which helps to show what a business can look at in order to gain data….

file:///C:/Users/bethm/Downloads/Analytics%201%20Master%20View%20Monthly%20Referral%20traffic%20report%2020170201-20170228%2020170104-20170131%20(3).pdf 

(https://www.singlegrain.com/blog-posts/analytics/why-digital-marketing-analytics-matter/)

(http://www.computerweekly.com/feature/Business-analytics-make-for-smarter-decisions)

(https://www.koozai.com/blog/analytics/google-analytics-business-benefits/)

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