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In-depth Digital Analytics Ecosystem

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The digital analytics ecosystem refers to the entire process of analytics. Understanding the tools, objectives, reporting and deriving the outputs helps to make the entire process easy. The entire digital analytics ecosystem can be categorized in three categories.

  1. The fundamental elements of analytics.
  2. The Inputs
  3. The Outputs

The fundamental elements of analytics: Digital analytics is all about calculations. It is understanding the numbers. Digital analytics platforms provide a number of tools to understand these numbers. The basic awareness of these is the first step. Lets us have a look.

  • KPIs or Key performance indicator: It is asset of measurements to understand the performance of specific objectives or goals. It is basically a metric. The KPI varies with the objectives of analytics.
  • Dimensions: Dimension simply refers to the information about the visitors to the site. Some of the dimensions used are traffic sources, locations, referring sites etc.
  • Custom reports: The report that we need to generate can be customized depending upon the objectives. Most of the analytics platforms provide the option to custom the reports that you require.
  • Advanced Segments: Getting the right data from a set of data is important. Advanced segments let you isolate and analyse subsets of your data. Applying segment to the report can help you see a specific data

The Inputs: Why we need analytics and how we do that? There are some major requirements that we require before starting the analytics, which are discussed below.

  • Understanding the business: This is important to set the objectives. What the company do or what is the purpose of the web site which we going to analyse. Analytics will be easy and will give specific insights if we are clear about the business priorities. It is also important to know what our competitors do, how they perform and what they do to achieve this.
  • Right talents: This is very important and needs no explanation. The right person can give the right insight to what is happening.
  • Tools: There are various tools available for analytics, of which Google analytics is the common name. Good tool is that which is easy and can be customized for the various requirements.

The Outputs: The sole purpose of the whole purpose of analytics is to have a deeper insight into what we are doing. The report we generate should be able to ask few questions. Why this happened and what can be done? The report generated should be solid enough that it is useful enough to take precise action. In brief the report should not look like the dashboard report. A good output can be generated only if you are clear about the business priorities or objectives. It is not the tool that is used to analyse is important, it is the skill of analyst that matters more. The ability to generate custom report is directly linked to the insight of the analyst. This can happen only if you are clear about the objectives of your business. The right custom report and the application of advanced segments can help you to generate an insightful report. The three aspects of the output are: Insights, Action and Business Impact.

  • Insights: The report shows that some ‘x’ has happened. Identifying ‘x’ is where the real analytics starts. Going deeper we find the reasons for why the ‘x’ happened.
  • Actions: These are the strategies that the company should plan and implement, based on the custom report, to better the business. Some products, if focused more specifically, can bring more revenue. The products that can be promoted in certain part of the world many not get much audience in other part. All the action plans are taken based on the report that we generated.
  • Business impact: This is understanding which actions can bring what changes to the business. Better say it is the real outcome of the action that we implemented based on the custom report.

More about Digital Ecosystem

Digital analytics is a step by step process as we discussed. It starts with collecting the data, and identifying the tool. This is considered as the Phase 1. The second Phase is focused on generating reports. This is where we need skilled people or analysts. Phase three is deriving insights from the whole process, ie the final report. A good report should convey what the data says and why. This is what that will help in planning and implementing strategies. Let us see how much time the whole process takes. Phase one almost takes six months. This includes both data collection and identifying the tool. Phase two takes another six months in generating reports. Phase three can take from nine months to one year. In actual scenario Phase three is a continuous process. This is where the proper use of data is integrated in decision making.

Understanding the entire digital ecosystem will make help one in track to bring out insightful report from the collected data.

  • web-analytics

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