Overview of Digital Analytics Flashcards
what is the difference in predictive analytics and prescriptive analytics
Predictive: forecast potencial future outcomes,
Prescriptive: gives recommendations for the next step
what is the biggest limitation of clickstream data?
very good at explaining the WHAT but not the WHY
no que consiste web analytics web 1.0
clickstream data
what is web analytics 2.0
tentar entender o porque das clickstreams, nalysis of qualitative and quantitative data from your website and the competition,
clickstreams ajudam a …
helps you measure pages and campaigns and helps you analyze all kinds of site behavior: Visits, Visitors, Time on Site, Page Views, Bounce Rate, Sources, and more.
quais sao os 3 objetivos principais de um site
- Increase revenue.
- Reduce cost.
- Improve customer satisfaction/loyalty.
the state of the analytics union relates to the paradox of data. what does this mean?
State of the analytics union
Paradox of data: a lack of it means you cannot make complete decisions, but even with a lot of data, you still get an infinitesimally small number of insights.
how did the analytics measurement changed through the years?
Click analysis → Session Analysis → User Analysis → Predictive Analysis → Prescriptive Analysis*
what is predictive analytics
they allow us to make predictions based on past user behaviour
how does predictive analytics work?
- collect data
- clean data (hindsight)
- identify patterns (insight)
- make predictions (foresight)
What’s the difference between predictive analytics and prescriptive analytics?
Predictive: forecasts potencial future outcomer,
Prescriptive: gives recommendations for the next step
web analytics 1.0
web analytics 2.0
Analysis of the qualitative and quantitative data from your website and the competition, to drive a continual improvement of the online experience that your customers, and potencial customers have, which translates into your desired outcome (online and offline)
what is clickstream data
Click-level data is base data you get from Adobe Analytics, Google Analytics, and other Clickstream tools. You will have a lot of data—in the order of gigabytes in a few months and more if you store history.
- Clickstream is also foundational data; it helps you measure pages and campaigns and helps you analyze all kinds of site behavior: Visits, Visitors, Time on Site, Page Views, Bounce Rate, Sources, and more.
what does multiple outcome analysis consist of
connecting customer behavior to the bottom line of the company. The most impactful thing you will do with web analytics is to tie Outcomes to profits and to the bonuses of your report recipients.
ERP
Enterprise resource planning
what does measuring allow you to do
- measuring allow to keep track on the sucess of an action
- measuring works as a basis to optimize and evolve
- measuring allows you to follow trends and behaviours
- measuring helps us to find the best strategy
you can use analytics to:
- formulate a hypothesis about your content performance
- determine a question to support it
- create a report to answer the question with data
- take actions based on your analysis
what are some examples of stuff we can measure through analytics
visitor behavior
visibility of some campaign
target interest in the content
roi
effectiveness of communication
ease of use of an application or website
what are the 2 critical changes you need to do to succeed in the world of analytics
- strategic shift
- tactical shift
what is the tactical shift
multiplicity. the company needs to solve the 5 pillars.
What are the 5 pillars of Analytics
- Clickstream
- Multiple Outcome Analysis
- Exprimentation and Testing
- Voice of Customer
- Competitive Intelligence
Don’t feel overwhelmed by the multiplicity strategy
List of the must-have elements that different businesses should consider to join the Digital Analytics world; they are ranked by priority and show the minimal areas that should be addressed:
- Small businesses: 1. Clickstream, 2. Outcomes, 3. Voice of Customer.
- Medium-sized businesses: 1. Outcomes, 2. Clickstream, 3. Voice of Customer, 4. Testing.
- Large, huge businesses: 1. Voice of Customer, 2. Outcomes, 3. Clickstream,
- Testing, 5. Competitive Intelligence.
ESE(P) what is each letter
E - Enrichment
S - Segmentation
E - Exprimenation
P - Personalization
ESEP. What consists of Enrichment
- Use custom dimensions and metrics
- Adopt User ID to allow a unique analysis of user behaviour between devices
ESEP. What is Segmentation
- Set peronas and target audience
- Apply advanced segments to analyse the behaviour of specific profiles, for example, the target audience
ESEP. What is Exprimentation
- Set goals and KPIs to measure the sucess of your digital strategy and the changes in the process
- Use tools and applications to do personalization, exprimentation and AB testing such as google optimize
