Significance Of Analytics Based Management
- Author Stan Parker
- Published May 28, 2010
- Word count 528
Marketing and advertising greatly play an imperative part for the success in any business institution. This task becomes even more complicated since it does not only involve providing products or services yet somehow it also requires the complex task of maintaining a specific standard of methods to make sure positive effects are achieved. One of the faults of some businessmen is that they expend an excessive amount of time and money on marketing and they don't even see the effects of these marketing on a scientific degree. What's even worse is that many businessmen don't understand the importance of analytics in their business organization. Due to this, they are not able to make best use of the full potential of their businesses.
When it comes to marketing analytics, the picture is defined by customer demands and how these ultimately affect a business' capability to sell. A few people think figuring out the quality of customer experience is a fairly easy job. On the other hand, it is somewhat difficult as it entails other operational and strategic factors of the business in order for a strategy or approach to be regarded effective.
The owner has the capability of seeing which part of his marketing strategy is not working in his favor and analytics is the cause for this. He is then able to make the required measures that will be aimed at attaining a more positive result. If you don't have analytics, one will have no choice but to rely on intuition or gut feel when making assumptions or interpreting events as they happen and affect the business. With web analytics, one is able to scientifically measure a site's online value through site visits, ad clicks and even clickaways and every other action that users make while visiting the businessman's site.
Put simply, information acquired will be actually based on scientific figures such as the frequency of visits for a particular page, the average amount of time that people spend on a page and other statistics that project a certain picture about the way a website behaves online and what this can mean for the business.
Web analytics also makes it possible for a businessman to make correct forecasts just by taking into consideration the statistics that he is able to obtain. The figures can come up with trends and these trends may be the basis in building relevant and accurate predictions. Of course, an advantage of being able to predict is being able to set goals. And with actual statistics guiding the goal-setting, there is a higher chance of the goals being achieved.
To improve their productivity and to increase their sales, many marketer online are using web based strategies. Many digital marketing strategies have been employed and they can be seen all over the internet. Everything could be helpful up to a certain extent, but the wise businessman knows that these things could only work when they are measured. Analytics is not only used online, it is also extensively used offline like employee screening services and it has been proven to be very important for every organization which seeks to find important information related to its business.
Even within a traditional setting, analytics can be useful. Workforce management and employee screening are two other applications of analytics where more substantial benefits may be created from its usage.
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