People often focus on web analytics, but digital analytics encompass more than just what can be gathered from your website. There are key analytics on one platform or site that can help you determine a lot of different information about your visitors and the content on the site itself. The value of digital analytics is far further reaching because it offers you ways to gather key insights and more accurately quantify the ROI of your campaigns.
Digital analytics reporting sorts and showcases the entirety of your funnel. You’re not limited to getting the data collected from just one platform. You’re able to access the reporting for each of your channels to see the bigger picture of where your audience is, what they respond to on various platforms, and where you should devote your time.
Yet other data sets are anonymous and/or collective. Some examples here would be the number of visits to your website, how much traffic you receive from Facebook, what time of day people are most likely to click your ads as well as demographics like age range, gender, city, and general interests.
Without data analytics, businesses are working blind. They end up making decisions based on “hunches” or “gut-feelings” that are built around perceptions, and even though perception is reality in many ways, it’s not a sure thing to rely on.
Whenever you’re making moves that are based on perceptions, you could be leading your company in the wrong direction. It’s hard to turn a business, even a small business, around once it sets its course.
Data analytics ensures that you’re basing your actions on reality. This generates the many benefits of data analytics, which include:
- Clearer direction for the company
- Less financial/time waste on bad decisions
- Faster reassurance that you’re on the right path through early indicators
- Quicker course correction if you’re not
- Predictive capabilities
- Faster growth