What are real-time digital analytics?
Real-time digital analytics are used to collect and analyze data from a variety of sources, such as websites, mobile apps, and kiosks. At its core digital analytics is about helping organizations improve the online experience by better understanding how customers engage with digital products.
To engage in digital analytics, organizations collect, measure, and analyze both quantitative and qualitative data in order to modify and enhance their business practices. Digital analytics thus leads to continuous improvement and is a core element of Continuous Product Design.
What are the benefits of using real-time digital analytics?
Digital analytics helps organizations to align their digital product metrics with business outcomes and key performance indicators (KPIs), such as conversion rates and revenue.
Many companies lean on digital analytics to set business objectives like increasing brand awareness or maximizing online sales. Companies that fail to define how they intend to measure success across their digital portfolios are more likely to waste money on their digital analytics efforts.
Who uses real-time digital analytics?
Various teams across an organization can benefit from using digital analytics, including sales teams, content writers, product managers, product marketers, developers, and others.
Digital analytics can help teams strategize their lead generation strategy, collect information for sales, develop SEO-driven content that encourages engagement, create support sites & e-books that help customers better understand products, and increase brand awareness.
Examples of real-time digital analytics methods
Here are some examples of digital analytics practices.
- Web Analytics focuses on collecting, reporting (via charts & graphs), and analyzing website data, such as page views, referrals, bounce rates, website traffic, sessions, number of visitors, click rates, conversions, and new vs. return visitor statistics.
- Social media analytics is the practice of collecting and analyzing audience data from social media platforms such as Facebook, Instagram, Twitter, and LinkedIn. Social media analytics specialists discover what audiences care about, create content that drives engagement, and post the content at the time of day that drives the best engagement.
- Business Intelligence is a subfield of digital analytics that focuses on helping executives, managers, and other employees make informed business decisions based on user data.
- Digital marketing analytics is the practice of using data to understand the success of your team’s marketing efforts, such as ad campaign measurement and multi-touch attribution.