The advancement in the digital ecosystem has fast-paced the e-commerce, online marketing, and advertising effects in the industries. The market leaders relying on online data analytics have led to the creation of competitive digital footprints. As a result, the emergence of digital analytics is a conclusive outcome of the need to measure digital performance. Moreover, the inclusion of data analytics in the business ecosystem has brought gradual improvement in the achievement of desired goals. Additionally, the concept helps in kick-starting the market penetration strategies in a profound manner. Thus, it becomes the most reliable business element during such critical eleventh hour.
What is Digital Analytics?
Digital Analytics is the most important component of Digital Intelligence where businesses get brand identity and maintenance advantages. It is the process of analyzing digital data-derived websites, mobile applications, social platforms, etc. using qualitative and quantitative tools. Thus, digital analytics is known for providing a healthy online experience to users by enhancing and modifying business operations. To be noted digital analytics is a broader term than web analytics and encompasses every aspect of the digital ecosystem wherein the latter only focuses on website performance. As a result, digital analytics is an extended concept that provides deeper insights into key online elements and quantifies better Return on Investment (ROI) to the company.
Digital analytics help in determining the marketing strategies through suitable channels. The concept provides a bigger and clearer picture as to when, where, and how the shall audience interact and respond. The entire theory is divided into five major phases which lead to effective analytical performance.
- Curating and transforming data into standard structure.
- Validating Profile at a macro level.
- Analyzing and examining the essential feature of data.
- Investigating and observing the data details.
- Documenting and reporting the information requirements.
Use Cases of Digital Analytics
Digital Analytics is an answer to the digital campaign and properties which are driven by factual decisions. Hence, it aims to increase revenue and reduce operational costs. Digital analytics is progressively reshaping its horizon and expanding its application zone with the use of profound tools and techniques.
|Web Analytics||It is the sub-set of digital analytics which is responsible for measuring web performance using suitable analytics tools. It is not just a process but a means to assess website effectiveness through thorough market research based on the concept of digital analytics. The evaluation of bounce rate, user sessions, user uniqueness, search queries, etc. are the key performance measure which plays a prominent role in supporting web analytics. Here, digital analytics contributes completely from implementing an insight to developing goals.|
|Digital Media Analytics||It simply refers to the qualitative and quantitative analysis of information flowing in the business spectrum to understand the behavioral approach of the users. With the use of digital analytics, media space gets the real-time boost as it helps to bridge the two-dimensional interaction gaps with effective metrics in the role. Thus, cost per click, social media management, return on advertisement spending, customer retention rate, etc. helps to measure the overall performance of media analytics. Furthermore, it helps to simplify the data from millions of sources and drive towards better accuracy and relevance-seeking platforms.|
|Digital Product Analytics||The robust digital analytics tool is focused on assessing the performance of product teams and managers responsible for maintaining the effective online presence of the business entities. Basically, the idea of product analytics revolves around understanding the impact of digital marketing processes on the end-user. It helps to identify high–value opportunities and create better experience building with the right resource allocation at the right time. The traffic size, source of traffic, visitors sessions, etc. which are the key component of digital analytics are put to use here.|
|Social Media Measurement and Management||The tool serves as the practical lens to the social media world where brands are built. Within this space, each social media activity is closely observed as a response to marketing and advertising campaign. In recent times, the digital world is majorly about social media, therefore, digital analytics are inclined much towards social media measurement and management. It helps to analyze and accelerate the business performance on the social media platforms using several essential metrics like traffic, engagement, and conversion rates to ensure a healthy social media presence of the brand.|
|Digital Communication Analytics||Inarguably, communication is the key in the business world which helps to bridge performance gaps. The same applies to digital communication as well where based on market research strategies are framed. These strategies are driven by digital analytics which strengthens the interaction between the companies and their stakeholders. The dispute resolution mechanism, response to emails, on-call solution delivery, chats with the helpline, reviews, and ratings are few essential indicators to assess the impact of digital analytics operations.|
|Digital Campaign Analysis||A digital campaign is an input that a company puts to receive conversion and call to action as the outputs. Generally, the nature of the campaign varies depending on the business type which makes it extremely important to customize the execution of digital analytics in the digital marketing process. Through analytics, the company can accurately measure their return on marketing investment and relative impacts too. Thus, campaigns are created with immense focus on long-term objectives and resource availability of the company by thorough effective implementation of digital analytics algorithms.|
|Customer Insights||Using analytical software, business entities can understand the customer requirements when they come across the online brand. The information derived using data analytics is further used to connect with the initial touchpoints and actual performance. Thus it results in a smooth and improved customer journey.|
|Campaign Optimization||The online marketing campaign is driven by quality content creation, geographical performance, and drill-down capabilities, on and off-page SEO. The organizations also consider Conversion Rate Optimization (CRO) to measure the digital metrics and team up with the key improvement areas to ensure better results. Thus, digital analytics provides a birds-eye view that helps to experiment with similar campaign types and yield improved organic traffic.|
|Online Performance||Since the ultimate aim of every marketing campaign is to enhance conversion rates and drive efforts towards achieving a call to action. Thus, this serves as the basic parameter for measuring the overall online performance using digital analytics components which is made implemented on websites, mobile apps, social media platforms, etc.|
|Analyzing Traffic Size and Quality||The website and online platforms witness several types of traffic. Some act as the promoters whereas others as the detractors. Thus, it becomes important to analyze the traffic quality to understand the right market reach and impacts of the campaign. Moreover, most business entities prefer precise market reach which requires optimized campaign results.|
|Source Study||The basic use case of digital analytics lies in studying the data sources and extracting the relevant information out of the same. Since data collection is a critical step in executing the analytics features and paving the way towards a more refined online existence. Therefore, digital analytics provide suitable ground to facilitate source study.|
Metrics Used for Digital Analytics
The application of key metrics during digital analytics considers different aspects of the digital communications and intelligence. Thus, the digital analytics tasks are categorized on their tracking, monitoring and quality analysis.
|Website Level||On page factors|
|User Level||Number of website visitors|
|E-commerce & Shopping||Conversion tracking|
Monitoring email campaigns
Analyzing cross-selling campaigns
Click and response rate
|Online Advertising||Campaign tracking|
Tracking affiliate links
Tools Used to Measure Digital Analytics
Digital analytics plays a crucial role in drawing data from various sources using multiple tools. These tools can be used on the website; social media platforms paid digital campaigns, and advertising. A few of the essential digital analytics measuring tools are as follow:
|Google Search Console||The technology is useful for reporting the site indexation and providing detailed information based on search traffic. It further helps to identify technical issues like server error, loading, and security issues as it impacts the online traffic. Since visibility is the first and foremost step for increasing conversions, therefore the tool is potent to determine website visibility gaps.|
|Google Analytics||It is an integral data tracking and measuring platform which considers web and customer behavior metrics. As a result, it helps in understanding the buying pattern and connecting with the right customer. Moreover, it also measures traffic from various sources and devices to improve the integration process.|
|Newsletter Platform Data||The two core areas of newsletter campaigns are deliverability and conversions which are measured using open rate. Click-through rate, bounce rate, and channelize resonation of right message to the right audience.|
|Google Ads||The prominent tool helps to reach the right customers by pay-per-click advertising models. It further includes search, shopping, remarketing, and display advertising which measures the success rate of the campaign in conjunction with Google Analytics. The Ad position, impressions, conversions, and clicks are the major metrics that are used to track the performance of Google Ads.|
|CRM Platforms||The CRM is the handiest tool for collecting and analyzing complex sales algorithms. It also allows tracking of leads and potential customers for specific products and services through social media, email, etc. Hence, it helps to establish an effective relationship between customers and the company.|
|Facebook and LinkedIn Business Manager||Facebook, along with sister platforms facilitate precise customer targeting and provide valuable insights to ensure increased engagement. On the other hand, professional leads generated from LinkedIn are measured using insight tags, campaign demographics, and lead generation forms.|
Examples of Digital Analytics
Digital analytics serve as the key change maker for the industrial players be it retailers. FMCG companies, boutiques, or small businesses. Thus, the digital tool has paved the industrial way towards healthy settlement in the dynamic world.
- With the use of digital analytics, Amazon is able to focus on its four core principles –customer obsession, commitment for operational excellence, long-term existence, and passion for invention. As a result, it has become a smart and passionate industrial player with excellent foresight towards customers and other stakeholders.
- Besides the delicious offerings digital analytics has contributed immensely towards the emergence of Domino’s Pizza as a brand. The collaboration of the company with Bounteous as a digital partner helped it to strategize demand and delivery in a highly cost-effective manner.
- The increased trust, commitment, development, and sustainable growth that EY observed with the use of digital analytics is beyond measure. With strong engagement and action-driven strategies, the company became a renowned name across the world. It uses technology for delivering high-quality services, attract heavy conversions and combat economical challenges.
- FedEx, a brand with a worldwide client base is known for providing ease of transportation, e-commerce integration, and other business-related services with the help of digital analytics the organization is able to focus on establishing safe, ethical, and professional standards in its domain.
- Global brands like Western Digital, Salesforce, Aramark, and Sephora are the brands offering customer-centric experiences by focusing on creating customer loyalty, iconic designs, and expected delivery. It all became possible with the firm support of Hero Digital, a digital agency leveraging vision to the ideas of these companies through digital analytics.
- Hilton, a renowned global hospitality company applies digital analytics to provide customer –loyalty programs, services, payment flexibility, exclusive perks, and other facilities. As a result, the company managed to make it to the award-wining customer loyalty program.
- Lenovo, a computer brand is known for delivering healthy customer experiences through their technical advancement using digital analytics. Thus, the company has brought complete Intelligence Transformation by incorporating human ability in their models.
- An America’s most famous local television and media company, Nexstar Media Group is backed by 198 full-power stations in about 68% of the US television households. It all became possible with the effective implementation of digital analytics in delivering exceptional content and developing network programming to entertain viewers.
Digital Analytics Companies
There are several market leaders making the horizon of digital analytics outshine with their profound offerings.
|IBM Digital Analytics||IBM is the cloud-based digital analytics engine that plays a prominent role in optimizing the web presence, leveraging better ROI, and facilitating a high conversion rate. BY providing a multi-channel view through its automation, the organizations are able to personalize their marketing programs. It also facilitated building customer profiles through in-depth and accurate tracking of the information. Moreover, it helps to increase customer engagement through its digital analytics use. Ideally, the company is known for its web analytics capabilities which help to retain customer’s lifetime value.|
|Glassbox Analytics||The company’s digital analytics solutions are used by all forms of organizations from medium to large in financial, insurance, travel, telecommunications, retail, leisure, marketing, etc. As a result, Glass box empowers organizations to optimize their complete digital lifecycle by managing customers over the web and mobile. It offers multiple benefits of session replaying, free-text search, application monitoring benefits, and effective implementation of behavioral analytics. The development of valuable insights through Glass box digital analytics help organizations to provide faster customer dispute resolution and facilitate profound IT troubleshooting. As a result, smoothens the customer journey.|
|Acoustic Digital Analytics||It is an open cloud platform supporting the digital marketing requirement of companies across the world. The company is focused on leveraging the benefits of marketing brilliance. Thus, its AI-powered products when comprised of an intuitive marketing ecosystem leads to expanded opportunities for the clients. Furthermore, the acoustic models provide add-on solutions for electronic devices like microphones, sensors, flow meters, mobile devices, speakers, etc. As a result, the digital ecosystem does not survive in any limited section but encompasses the needs of the entire digital sphere with its digital analytics.|
|Adobe Digital Analytics||Being an industry leader in real-time analytics, Adobe provides detailed segmentation of all the relatable market channels. It helps partner or client companies to discover high-value audiences by adding more strength to the customer intelligence team. Moreover, the Adobe analytics APIs offer endless solutions to integrate customer-related raw data into actionable processes. Also, the Restful endpoints make it easier for the applications to query similar metrics and dimensions in relation to the analysis ecosystem. These digital analytics-based queries provide deep insights into the unlimited breakdown level, search segment filters, and several data ranges.|
|Dareboost Contentsquare||Dareboost is the key monitoring company of Contentsquare which is the global leader in experience analytics. The latter is trusted by industry giants like Sephora, Walmart, BMW, etc for analyzing their web performance and new Find and Fix product features. Dareboost’s web performance technology provides a comprehensive solution to the Contentsquare. As a result, it accelerates customer engagement across various digital properties and helps recover lost revenues by fixing technical errors on the website. Since 100-million second delay in web load time decreases conversion rates by 7%, therefore Dareboost Contentsquare brings better improvement in the page load time using its digital analytics.|
|Accenture Digital Analytics||Accenture is the biggest tech analytics company in the world with a profound client base. The effective implementation of machine learning and artificial intelligence algorithms helps businesses to get comprehensive digital analytics solutions. In the 15 years of with SAS company made 250 projects achieve successful heights with the support of 1800 data scientists. Using its digital analytics Accenture had launched an effective advertising campaign for brands like Marriott, Unilever, Royal Shakespeare, etc. As a result, these companies received brand status in a short while. The digital analytics setup at Accenture ensures timely tracking of the web and mobile performance of the company.|
|Spark Digital Analytics||Recently, established company Spark has created its huge mark in the industry through its healthy command over digital analytics. Here, the digital marketing strategies, social media campaigns, and consulting take place which leads to the effective digital performance of the brands. With its transformative digital solution Spark is potent to develop actionable insights and develop exceptional software with the inclusion of data analytics features into them. The unified work engine of Spark ensures big-data processing and streamlines modules with SQL, machine learning, and graph processing.|
|CXI Digital Analytics||The Omni-channel customer engagement platform is the strength of CXI where digital analytics play a crucial role. The company has built effective payment processing tools to ease out the exchange with the clients. Moreover, it serves businesses with system integrators and uncountable digital solutions in order to keep them closer to customer queries. The CXI softwares are the apt choice for investment engagement and digital performance making the companies ready for future growth and dynamic nature.|
Developing a Digital Analytics Strategy
The digital platforms are certainly turning out to be the new business space owing to their ease of access. Thus, it becomes important to strategize the digital ecosystem using the features of digital analytics. Ideally, the strategies vary for each company, yet some standard approaches serve as the basis of digital analytics strategy formation.
- Understand all the related WHYs because it helps to craft an effective brand campaign.
- Focus on creating a unique brand story to articulate the company’s mission and vision in the right format.
- Be precise with your goals and ensure these goals follow SMART strategy – Specific, Measurable, Attainable, Relevant, and Time-bound.
- Develop accurate customer persona, because they are the ultimate beneficiaries of the marketing campaign.
- Create a journey map that helps to ensure smooth penetration into the market by in-depth audience behavioral study.
- Identify the suitable marketing channel for driving better engagement by reaching an audience.
- Develop a suitable content strategy that focuses on the quality, consistency, and creativity of the content.
- Prepare a content calendar so that project requirement are duly met and effective consistency is ensured.
- Most importantly, plan the proper allocation of resources like time, money, and skilled staff. As a result, it helps to bring better engagements and conversions.
- Develop proper measures to combat unexpected contingencies to bear the minimum loss.
Evidently, the growing digital ecosystem and preference for the same have revolutionized the traditional business culture. The contemporary business approach driven by digital analytics is certainly on the way to track efforts and channelize them into healthy energies. As a result, business houses are gearing up to make the best use of such prominent tools to gain effective control over their management and incorporate customer satisfaction through their operations.
Topics in Data Analytics
- Advanced Data Analytics
- Clinical Analytics
- Credit Risk Analytics
- Cyber Risk Analytics
- Data Analytics for Customer Behavior and Customer Experience
- Data Analytics for Customer Journey
- Data Analytics for Fraud Detection
- Data Analytics for Human Resources
- Data Analytics for Logistics and Supply Management
- Data Analytics for Risk Management
- Data Analytics for Talent Acquisition and Management
- Data Analytics in Asset Management
- Data Analytics in Digital Marketing
- Data Analytics in Healthcare – Use Cases, Metrics, Techniques, Companies and More
- Data Analytics in Manufacturing
- Data Analytics in Pharmaceutical Industry
- Descriptive Analytics – Definition, Types, Examples, and More
- Digital Analytics
- Financial Data Analytics
- Financial Risk Analytics
- HealthCare Claim Analytics
- Insurance Risk Analytics
- Insurance Risk Analytics
- Population Health Analytics
- Portfolio Risk Analytics
- Revenue Cycle Analytics
- Risk Assessment Analytics