Trends & best practices
What are the different types of digital analytics?
By Quantum Metric
November 14, 2023
Trends & best practices
By Quantum Metric
November 14, 2023
Digital analytics is one of the most significant resources that businesses have today. It provides actionable insights regarding customer behavior, application and website traffic, product data, and so much more.
There are numerous types of digital analytics, each one providing metrics that convey the results of a particular service or product’s performance and marketing efforts. In order to gain a well-rounded and nuanced perspective of a business’s achievements or losses in today’s world, one must be able to interpret and utilize every type of digital analytics possible.
Below, we discuss what digital analytics is, how it is used, and detail a number of different analytics types, as well as some noteworthy digital analytics tools your business should use.
Digital analytics is the process of collecting, measuring, analyzing, and interpreting data from digital sources, such as websites, mobile apps, and other online platforms, to gain insights into user behavior, interactions, and performance.
It involves tracking various metrics and key performance indicators (KPIs) to assess the effectiveness of digital strategies, optimize user experiences, and make informed decisions for improving digital marketing and achieving business objectives.
Different teams within a business can each use digital analytics in numerous ways to reach positive outcomes, not only for their department but for the business as a whole. Here are some key examples of digital strategies in which digital analytics are employed:
Companies will continuously use digital analytics when developing, implementing, and tracking the performance of their various digital marketing campaigns. They’ll use various metrics from their digital analytics tools to determine which campaigns were successful and on which channels. Then, they will analyze data points from these results to adjust their current campaigns or develop new ones in the future.
In addition to marketing efforts, businesses may also use digital analytics to explore the key user interactions that make up a customer’s journey, from the first touchpoint with their brand to the final point of sale. This allows them to resolve customer pain points and elevate their customer experiences to new heights.
Digital analytics plays a pivotal role in enhancing product and website performance for businesses. By tracking and analyzing user interactions, traffic patterns, and engagement metrics, digital marketers and product managers gain valuable insights into customer behaviors and preferences. This allows them to respond to user feedback, improve their products and campaigns, enhance conversion rates, and improve future products.
Each type of digital analytics helps a business learn more about the influence of the online presence and the performance of its website or product. Here are a few types of digital analytics every business should track:
This type of digital analytics indicates the number of users who have visited a business’s website, allowing them to measure the results of their marketing campaigns and decide which are best to invest further into. Metrics related to it are page views and unique visitors.
This type of digital analytics shows which acquisition channels have brought the most users to a company’s website or produced the most conversions. This allows them to decide which channels require more focus and resource investment to effectively get the best results.
This type of digital analytics shows the amount of time a user interacts with a business’s website or app. It helps measure how well website visitors engage with them and can potentially indicate what web pages or particular app features have issues, causing users to leave.
This type of digital analytics conveys the percentage of people who click away from a page on a company’s website. It is a standard and valuable measurement of online marketing and advertising campaigns, indicating poorly-produced content or unoptimized webpages with slow-loading times or sloppy UI design.
A conversion is a particular action businesses want customers to do on their website. This action could simply be making a purchase or signing up for an email update. Thus, a conversion rate is the percentage of new users and potential customers that perform these actions on a website. This type of digital analytics is vital for businesses to learn which strategies and campaigns work and which require readjustments.
Numerous digital analytics tools are available, each providing certain types of digital data and serving different functions for businesses to utilize. Here are a few of the best digital analytics tools to consider:
An premium enterprise-level version of the standard Google Analytics platform, Google Analytics 360 offers even more advanced tools for businesses to use. These include features like unsampled reports, which provides raw data for more precise insights, and data-driven attribution, which utilizes machine learning systems to more accurately determine the value of each marketing touchpoint. Designed for larger businesses that need heavy hitting analytics, numerous integrations, and in-depth support, Analytics 360 is almost a necessity for today’s top brands.
Quantum Metric is a digital analytics platform that provides insights into user interactions with websites and applications through application and website analytics. It helps businesses understand user behavior, identify friction points, and optimize digital experiences for an enhanced customer experience.
One prominent analytics tool that many companies use is Amplitude, a product intelligence platform that provides insights through event-based tracking, user behavior data, custom metrics dashboards, and so much more. It also allows businesses to customize their data collection efforts and integrate other tools, adding even more power and convenience on top of its core functionality.
Another strong digital analytics tool to consider is Mixpanel. This platform focuses on providing insights that show how users are interacting with a company’s product or service. Similarly to Amplitude’s platform, Mixpanel provides event-based tracking, allowing product teams to see what their users are doing on their website or mobile application. The platform also provides funnel analysis, segmented insights, and more, ensuring you have the data and direction you need to drive business growth.
Among the most sophisticated digital analytics platforms available, Adobe Analytics offers a broad suite of features such as flow exploration and anomaly detection, which utilize machine learning to help businesses determine their pain points and successes across their digital properties’ customer journeys. It also provides real-time data analytics, ensuring teams are able to analyze product data in real time in order to make immediate but effective data-driven decisions. This enterprise-level platform can provide granular insights into customer behavior and product touchpoints, making it an invaluable tool for those who utilize it.
If a business leverages their digital analytics effectively, they’ll improve the performance of their product and marketing strategies, continually outclassing their competition and experiencing enduring growth.
Get the most out of your digital analytics insights with Quantum Metric, a digital analytics experience platform that ensures you make substantial, customer-centric, and data-driven decisions. Quantum Metric will help you track website, app, and product data, explore customer journeys, and maintain cross-team priorities.