In this paper, I will define and discuss the element of web analytics, which are goals, events, and key performance indicators. I will provide examples of each and describe how companies are utilizing analytics to increase business and retain customers.
The web analytics is the measurement collection and analysis of data to help companies improve the effectiveness of what they do online (Peterson, 2015). Analytics can help answer the basic questions about the visitors’ behaviors, such as where they are coming from, what pages they visit on the website, whether they are actually buying the product or getting distracted by something else along the way. The options of trackable behavior are endless.
Goals are important in analytics because it
…show more content…
Key performance indicators answer the quantifiable piece of the goals and objective. Putting great key performance indicators together and making sure they work well, the company needs to have the following attributes: measure, target, source, and frequency. The reason they need to work well is because key performance indicators are the heartbeat of the performance management process. They show whether the company is making progress. So, the measure is the verbal expression in words of what we are measuring, which is fairly straightforward. The tricky thing is companies need to be as expressive as they possibly can with the measures. The expressive would be number of new customers this year or number of new customers for a certain product or certain service. The target is the numeric value that companies want to achieve. For example, companies want to achieve a thousand new customers by the end of the year. So, the due date and the target work hand-in-hand. The other thing is that measuring the target needs to work hand-in-hand. The source is what companies identify where the data is coming from, and the source will save companies a lot of time. The frequency is how often companies are going to be reporting on the key performance …show more content…
The source of traffic is the process how the people arrive on a website. It could be by social media, blogs, Google searches, etc. Companies want to find out how people are finding their websites, so that they create a strategy for the content moving forward. Bounce rate is when a visitor leaves before clicking on another page within the website. The higher the bounce rate the worse off the business is. The conversion rate counts as any call to action a person fulfills the purpose of the website. The conversion could be buying the product or service. The conversation rate is tracked as percentage of the traffic, and the higher it is the better off the business is. The total traffic, source of traffic, bounce rate, and conversation rate are great insights into the health of the website (Saleh, n.d.). There are a lot of web analytics platforms to track them, but the most popular one is Google