Web Analytics

For today's business, a staple in doing business is a website to promote or educate individuals about their company. A company's website collects a lot of data and companies are using that data in order to better direct users to certain information or deal located on their website in order to accomplish a goal. To leverage this data, there are web analytics tools that help answer the following five questions:

• What are people doing on the website?
• Who are they?
• When are they visiting?
• Where are they coming from?
• Why are they doing this?

By collecting this data, companies are able to leverage it through the Web Analytics Cycle. The cycle involves a company setting goals, figuring out how to measure whether or not they are achieving the goals, reporting on data that measure whether or not a company is close to achieving the goals, analyzing the reports, and making decisions on what actions to take as well as optimizing the actions taken. The cycle is continuous as company's goals change, but more important as the customers visiting the website change what they want and how they want it.

What can Web Analytics do for me?

Even though companies have had access to free web analytics tools some don't take advantage of it as they ask themselves, "What can Web Analytics do for me?" The basic answer is the information provided by the web analytics solution will help in understanding and optimizing the company's website. It also allows a company to know what they are doing and if it is working. According to the article "What is Web Analytics," web analytics is the proven, systematic, scientific way to continuously improve a company's website. It also argues that someone could be the most brilliant marketer or web designer, but that they don't know "Jack." As indicated above, it is the visitors that know what they want and how they want it. Web analytics will help companies understand the visitors of their website and if the company listens then they will benefit from it.

 

Benefits...

The benefits of web analytics is that it can improve a company's bottom line, often free to implement, can give a company a complete picture of their customers, and can enable a company to serve their customers better and in more targeted ways through marketing. Which are significant benefits for most or all companies as it can be difficult to get a complete picture of your customers especially through a tool that is cost effective. To also have a cost effective tool to assist in the company's marketing plan that helps a company know what sites to advertise on based on the revenue generating referral sites or targeting customers specifically based on demographics. Like a lot of business tools or theories this is one that can have a huge impact on a company, but in order to see the impact or benefits it needs to be implemented and utilized.


Resources

1. Ram, Sudha. 2013. "Introduction to Web Analytics." OMIS-MIS587, slides 1-8.
2. Sankar, Abhirami. 2014 April 21. "The Business Benefits of Web Analytics." Analyics Training. http://analyticstraining.com/2014/the-business-benefits-of-web-analytics/
3. "What is Web Analyics." Logaholic Web Analytics. http://www.logaholic.com/manual/references/what-is-web-analytics/