Ivy Mar 31, 2015 No Comments
Before I do a blog on the latest craze in the hiring landscape – ecommerce analytics, I’d like to cover digital analytics in its new avatar.
As this article in Forbes magazine says, 2014 was the Year of Digital Marketing Analytics, when the ‘digital’ took over the marketing landscape. According to analytics pundits, the trend spills over to 2015, with Digital Analytics continuing to dominate the analytics space.
What is Digital Analytics?
Digital Analytics is defined as
“the collection, measurement, analysis and reporting of data for optimizing channel usage…”
The most popular definition is from Avinash Kaushik.
Digital analytics is the analysis of qualitative and quantitative data from your business and the competition to drive a continual improvement of the online experience that your customers and potential customers have which translates to your desired outcomes (both online and offline).
So what it does, is collect, measure, analyse and report data residing in digital media for optimum usage, answer questions and offer insights for business actions.
In the larger picture,
web analytics < digital analytics < marketing analytics < e-commerce analytics
Where is Digital Analytics used?
Why you need to equip yourself with Digital Analytics skills?
Today every activity, opinion or event is digitised. Social media, cell phones and the internet have greatly influenced consumer behaviour and the way businesses work. There is a seamless flow of information across the digital space, waiting to be harnessed for insights.
It is a ‘digital’ environment today.
So whether you are engaged in analysing the reason for the failure of a new product, or tracking repeat defaulters of a particular loan scheme, you will need to engage tools of digital analytics at some stage/s. It is no longer about digital marketing alone.
Bottomline – While web analytics may soon be passé, digital analytics is here to stay. So it is time to hone your skills in digital analytics too.