Web Analytics Demystified: Four Reasons You Should Use Web Analytics
What is Web Mining?
When data mining techniques are applied to web data to identify useful patterns, it is called web mining. Web mining integrates the information collected from world wide web and information fetched from data mining techniques to quantify the success of a marketing campaign for any business. Web mining is one of the web analytics solutions that help organizations in analyzing the effectiveness of a specific website, understand consumer behaviour and competitors’ strategy efficiently. The information collected through web mining offers actionable insights into the web structure, content, and usage.
Types of Web Mining
Web Mining-Type #1: Web Content Mining
Web content mining aims at collecting multimedia documents such as video, images, and audio that are hyperlinked or embedded to the web pages. Web data mining deals with unstructured or semi-structured data and requires a creative approach to data mining techniques. In the last few years, the activities in the field of web content mining have expanded rapidly due to the exponential growth of data on the web. However, due to the lack of structure of web data and its heterogeneous nature poses several challenges in the web content mining process.
Web Mining-Type #2: Web Structure Mining
Web structure mining aims at analyzing the link structure of the web and identifying more desirable documents. Web structure mining assist companies in identifying similarities between different websites. It aims at generating a structural summary about the web page and the website. The main aim of web structure mining is to focus on the inner-document structure as well as on the structure of the hyperlinks at the inter-document level. Web structure mining uses topology of hyperlinks to categorize and deliver information on the relationship and similarities between multiple websites.
Web Mining-Type #3: Web Usage Mining
Web usage mining aims at predicting the behaviour of users while they interact with the world wide web. It helps in discovering the navigation patterns of users. Also, it fetches useful information from the user interactions on the web that further helps in understanding consumer behaviour and buying patterns. Furthermore, such insights can help in providing personalized services, site modification, and overall system improvement.
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Advantages of Web Mining Solutions
Benefit #1: Improves business on the web
Web mining helps in analyzing click-stream data and unveiling e-business opportunities in real-time. It aids in targeting the right customers at the right time by understanding their needs. Also, web mining solutions help in customizing services according to customers demand which further helps in improving marketing strategies. Furthermore, web mining solutions help in improving the effectiveness of a website by offering what users want at the right time.
Web crawling and text mining solutions can help in improving cross-selling opportunities. Want to know how? Read our latest success story here:
Benefit #2: Helps in analyzing customer behaviour
By leveraging web mining solutions, companies can understand and analyze several concerns such as the relationship between customer’s present and past behaviour and their loyalty towards the website. Analyzing customer-centric web behaviour can be helpful for companies in improving the website segmentation based on customer behaviour and preferences. Also, it can help in offering personalized services to customers. Furthermore, web mining guides in predicting customer’s future behaviour which is very important for a website’s future content design and planning.
Are you finding it difficult to analyze the effectiveness of company communications and customer interactions on the world wide web? Web analytics solutions may hold the key to success. Get in touch with our experts.
Benefit #3: Assists in analyzing proxy servers
Web mining has the ability to help in identifying user behaviour on a particular website. Businesses can leverage web mining solutions to perform investigations on their own website and can yield actionable insights into the needs of users and accommodate them. But apart from this, what is equally important is analyzing a user’s behaviour on the proxy servers. Web mining can efficiently do this and can help in generating an overview of customer behaviour on the internet.
Businesses that run online receive heavy traffic on a daily basis and the immense volume of continuous data makes it extremely challenging for businesses to track their visitors and analyze website statistics, potential consumers, and prospective buyers. Quantzig’s data analytics services and web mining solutions help companies in managing large volumes of web data and set up customized dashboards to derive real-time insights to facilitate data-driven decisions. Quantzig’s data analytics solutions provide companies with the required technologies, capabilities, and frameworks to handle the sheer volume and variety of data while ensuring privacy and security of information. Quantzig with leading data-governance practices deliver best-in-class frameworks for data visualization and multi-dimensional data aggregation that further helps in better insight generation.
Web analytics is undoubtedly one of the most effective marketing tools that are available to marketers today. Though web analytics services enable businesses to measure hundreds of metrics to improve their marketing performance, it ultimately boils down to how they interpret the data and use those insights as a key differentiator. By engaging with web analytics service providers, businesses can not only gain insights on their web traffic but also analyze ways through which their traffic can be improved. Such granular insights not only help streamline business processes but also drive revenue through improvements in marketing efforts. Web analytics highlights the performance of a website and reveals how users interact with the data. It not only allows businesses to analyze their websites’ performance but also offers insightful information about visitors. Businesses can also leverage web analytics services to make future marketing decisions and tailor their B2B approach to suit the needs of their customers.
What is web analytics?
Digital marketing is gaining tremendous importance across all industries and within an environment where there is an immense value of ROI. Therefore, for companies, it is imperative to measure and quantify all web and social media activity to monitor the effectiveness of digital marketing campaigns and media investments. But businesses face several issues in evaluating their digital presence in the era when a strong online presence can be the key to business growth.
A recent report indicates that only 23% of companies have data-driven initiatives achieving remarkable results. 77% of marketers are still not able to report or measure how their business is performing online and how their customers react to their products or services. This is where companies need to realize the importance of web analytics services.
“Web analytics services equips businesses with the ability to decide what’s working and where there is scope for improvement.”
At Quantzig, we understand the impact that web analytics services can have on your business. And to help companies stay ahead of their competitors, our team of experts have created a comprehensive guide on web analytics services, that offer extremely helpful insights on leveraging web analytics services to improve business growth.
Web analytics services have the potential to help companies analyze and understand their brand sentiment, provide information on the competing brands and effectiveness of their promotional activities. But before we move on to the benefits of web analytics services, let’s understand the definition of web analytics.
Are you wondering how to analyze the effectiveness of company communications and customer interactions on different digital marketing platforms? Customized KPIs and metrics may hold the key to success. Get in touch to know more about the benefits of our web analytics services.
What is Web Analytics?
Today, for any business to analyze its digital presence, web analytics tools have become very important. It helps measure various things like the number of visitors, the source of visitors, page views, and analyze their action on the website. So, it has become very important for digital marketers to analyze the reports generated by several web analytics tools to make the required changes in the strategy and take immediate actions for better and improved outcomes.
What is Web Analytics?
In layman terms, web analytics helps businesses to determine the interest of the market, market segmentation, target audience, understand market trends, and analyze the behavior of the visitors on their website. Web analytics tools also help understand the interest of the visitors and their preferences.
According to Quantzig’s web analytics experts, “The data gathered equips businesses with the ability to decide what’s working and where there is scope for improvement.”
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Web analytics and customer analytics are often confused with one another. However, both these terms are distinct from one another. Web analytics refers to the collection and analysis of web data to maximize the usage of the site. Web analytics measures things that are considered by the webmaster. This includes factors such as the number of views, page loading time, time spent by the visitor on the site, and other factors. The performance of the website can be greatly improved using web analytics. It also helps to measure the effectiveness of advertisement campaigns. Customer analytics, on the other hand, is the process of identifying the customer information, which will help companies to deliver and meet their needs. Customer analytics forms the backbone of any marketing activity for a business. It includes techniques such as data visualization, predictive modeling, and segmentation. Here are some of the key parameters that distinguish web analytics from customer analytics:
Data and product teams are the end users of the data gained from web analytics. It does not have anything to deal with customer-facing departments. Customer analytics, on the other hand, includes customer-facing departments, who play a major role in implementing customer knowledge into action in the organization.
Web analytics is not designed to provide information at an individual customer level. It is used to identify trends and patterns in the behavior of a group of customers. Customer data analytics provides in-depth insights on each and every individual customer of the business. This can help businesses track the traits of customer’s individually and target the right customers especially for marketing and ad campaigns.
Web analytics does not have the capability to help companies predict the future based on the traffic driven to the site or by the number of customers visited the site. It can merely depict how successful the marketing campaigns of the company has been. Customer data analytics involves understanding customer behavior before reaching out to them. This behavioral study will let the company predict future leads, new customers, and references. This tool is really helpful for companies who have a huge number of customers like B2B, insurance, and real estate.
Marketing and data teams obtain information about the website traffic with the help of web data analytics tools. Customer analytics tools provide contact and business information to sales and customer support teams who face the customers directly. This helps the customer-facing teams to get in-depth behavioral insights about the customers.
Data is organized around the website like page views, landing pages and others in the case of web analytics. Customer data analytics, on the other hand, organizes data about the customers. Instead of focusing on the website data, if we concentrate on the customers’ data then the data becomes easier to control. This is because data related to customers are simpler to understand and use.
To know more about the latest trends in analytical tool for your business
Today, most businesses have established their online presence. But with the enormous data and traffic that online platforms provide, it might become challenging for businesses to gain a comprehensive outlook on their online consumer behavior. This is where web analytics comes into the picture. Web analytics delivers data about your website, your visitors, and their behavior so that you can measure what’s working and what isn’t, improve your website’s performance, and conversion rates. Website data analytics tools will help companies to get detail information on user behavior, age, demographics, gender, and source of traffic. Using web analytics, companies can gain direct insights into how the website is performing and what the customers are saying about the products or services. The data gathered equips businesses with the ability to decide what’s working and where there is scope for improvement. Here are why advanced data analytics capabilities like web analytics are important for your business:
Ascertain web traffic
Web analytics helps measure the number of viewers visiting a particular website, where they are coming from, and the keywords used by them. It shows the number of visitors arriving at the site from different sources like search engines, emails, social media, and display ads. Moreover, they show the number of conversions through each of these platforms. The information is vital for any business and helps them decide on the channels that they should pay more attention to and invest in.
Optimize marketing campaigns
Marketers can measure the performance of campaigns and understand which campaigns garner the best results using web analytics. Companies can align their resources in the right channels and the campaigns that yield maximum returns. By doing this, marketers can invest time on optimizing the right strategies, and drop the strategies that aren’t working; thereby, maximizing their return on investment (ROI).
Better page quality
Web analytics is meant to help businesses see not only the differences in data on a week-on-week basis but also to shows the changes in trends over time. But they must take precautions before jumping to conclusions too quickly. It must be ensured that with the trends and segmentation, companies are able to find out what is driving people away from their site.
Track bounce rate
Bounce rate refers to the number of visitors landing on a webpage but leaving the page without taking any action. A high bounce rate could mean visitors are not finding what they were looking for on the target page. Marketers must keep track of the bounce rate for each page and the pages with high bounce rates should be improved. With this, they can improve visitor website journey and experience. This is one of the most noteworthy advantages of web analytics.
Track target market
Marketers must identify the different need of customers and tailor-make their offerings for conversion optimization. The findings of analytics services reveal the current market demands and the market demand varies with geographic location. Once marketers identify what attracts customers from various locations, they can make their offerings accordingly.
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What the Client Wanted
Effectively optimize operations, maximize margins, and better understand the customers
Created advertising campaigns for specific customers
Summary of the interactive media services industry
The interactive media services industry can be divided into multiple layers and is becoming increasingly integrated vertically. The most important among these are the roles of portals, aggregators, and back office – all of which rely heavily on customer management. Over the past few years, the interactive media services industry has proliferated rapidly, assisted by the boom in internet usage, and is expected to grow further in the coming years, driven mainly by e-commerce and an infrastructure consisting of internet services, mobile phones, video games, and digital broadcast satellites.
Competition: To remain on top of the game in today’s competitive landscape, companies in the media and entertainment industry must look to increase their focus on moving to a more audience-based approach. Besides, the capability to deliver better communications and offers are expected to impact the relationship between consumers and marketers.
Diversification: Interactive media services providers are growing at a rapid pace and are increasing their reach to new markets today. As a result, it becomes essential for the companies to develop innovative service lines to increase profitability and optimize their ROI.
About the Client
An American multinational interactive media services provider.
The client wanted to integrate new web applications to improve sales performance and meet their potential business needs. Additionally, the interactive media services provider was facing challenges in implementing and improving web analytics for their websites. As a result, they wanted to deploy fast-growing and conversion-driven analytics to increase traffic; thereby, enhancing the ROI.
Summary of our engagement
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With the help of Quantzig’s web analytics solution the client, a leading interactive media services provider tracked the flow of traffic and determined the appropriate space to invest marketing dollars and time. Additionally, the client promoted products based on customers’ browsing activity in terms of demographics. This helped them decrease bounce rates and increase sales.
Web Analytics Solution Insights
Quantzig’s web analytics solution helps firms in the media and entertainment industry to understand the campaigns contributing to conversions by utilizing a robust analytics attribution channel. Additionally, firms can identify and increase focus on the call-to-action that generates the most interest based on geographies.
To know more about how our web analytics solution helped the interactive media services provider