What is Analytics?

Basically, analytics refers to our ability to collect and use data to generate insights that inform fact-based decision-making. Advances in information technology and a complete datafication of our world now mean we have (or will have very soon) data and insights on everything. This gives us unprecedented opportunities that will transform business, sports, healthcare and government. Let’s first look at the datafication of our world and then at some examples of how analytics are used to turn data into insights.

Why you need Analytics?

  1. To measure and track your results across time
  2. To understand your visitors, leads, prospect
  3. To understand, track and improve the mechanisms used to convert your first visitor into a valuable customers.
  4. Find out which online campaigns bring the most traffic and conversions.

  5. Determine where your best visitors are located.

  6. Learn what people are searching for on your site.

  7. Visualize what people click on the most.

  8. Uncover your top content.

  9. Identify your worst performing pages.

  10. Determine where people abandon the shopping cart.

  11. Discover if you need a mobile site.

What is Data Analytics?

Data analytics is the science of extracting patterns, trends, and actionable information from large sets of data. While often used interchangeably with the term “business intelligence,” it’s useful to distinguish the terms. Think of business intelligence as the ways in which companies use data to improve their management and operations. Data analytics involves improving your ways of making sense of that data before acting on it; further still, you can slice and dice the data to extract insights that allow you to leverage this data to give you and your organization a competitive advantage.

Social Media Analytics

Social media has become embedded within nearly every sphere of life. News stories circulate social media channels side-by-side business promotions and the everyday sentiments of users. The daily actions and interactions are recorded and collected—you can use this to get ahead of the curve.

What is your target audience talking about? What are the wider trends of the day? More specifically, how are they interacting with your company? Are they sharing or liking what you post? Social media not only expands the reach of data collection — it makes the collection process faster. Your company can make snap decisions based on rapid communication between your customers, the public, or you and your audience.