Data-Driven Web Analytics

Data-Driven Web Analytic

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Data-Driven Web Analytic

The concept of data analytics refers to understanding the behavior and nature of web visitors. Visitors are individuals exploring websites for information. Web analytics is crucial to businesses and organizations since it gives a better understanding of visitors to develop ways to attract, retain and increase the number of people visiting the website. Businesses can use different types of data analytics including behavioral analytics, acquisition, traffic source and user analytics (Ayanso and Lertwachara, 2014).

How Business Determine Analytics to Use

Choosing proper web analytics for a business is crucial since it determines the number of visitors. A business chooses analytics by determining the nature of targeted visitors, the information posted on the website, and the purpose of the website. A business also must determine the cost of analytics and the intended outcome. A good analytic must optimize on the outcomes i.e. it must derive optimum traffic to the website.

Benefits of Becoming a Data-Driven Organization 

Data-driven organizations remains competitive in the market because they accrue different benefits salient to competitors or other businesses. To start with, it enhances business efficiency and effectiveness (Moris, 2018). Accurate integration of data and analytics gives organizations special competencies to release hidden opportunities the targeted analytics provides increased efficiency and effectiveness as the business tailors information to specific customers. Importantly, data provides key insights to the organization, which are utilized by the management in making executive decisions, and push business to a higher level. 

Data-driven organizations can increase revenue and foster income (Moris, 2018). Relentless data analysis supports current and future decisions and predictions. It provides knowledge of when and where to make investments. By doing this, organizations can outsmart competitors and find innovative ways of increasing revenues. Lastly, data-driven businesses increase their flexibility and agility. It makes the organizations invest in the right people, infrastructure as well as governance to facilitate optimum utilization of available resources (Kanumuri, 2019). With the right people and infrastructure, businesses can develop critical insights.

Implications of Not Having Web Analytic Action Plan

Having dysfunctional web analytic tools gives a business a disadvantaged competitive environment. The business will lack long-term future projections hence failing to invest in appropriate infrastructure and human power. The business will not recognize opportunities making it difficult to maximize revenues. 

How Business Determine What Data Have Value 

Valuable data can positively influence the business. A business determines valuable data analyzing the benefits of each data to the organization. Data that accrue a higher value to the business is the most valuable. Valuable data should increase efficiency and effectiveness, increase revenues, provide current and probable future trends and optimize profits. 

References

Ayanso, A., and Lertwachara, K. (2014). Harnessing the power of social media and web Analytics. Routledge Publishers.

Moris, T (2018) Competitive Advantages of Data- Driven Organizations. Retrieved from https://www.microstrategy.com/us/resources/blog/bi-trends/6-competitive-advantages-of-data-driven-organization

Kanumuri, J (2019) Three Business Benefits of a Data-driven Organization. Retrieved from https://dzone.com/articles/three-business-benefits-of-a-data-driven-organization