Analytics is a process of interpreting and communicating data. Without analytics, data accumulation will make no sense since we would be not able to put it to good use. Analytics is way harder than data collecting as well.
In the business industry, analytics is used for different purposes:
- to define a target audience
- to understand customer’s needs
- to create a picture of the current market
- to understand competitors
- to learn more about customer behavior
- to improve ad campaigns, affiliate programs, customer support, checkout process, etc.
- to increase website traffic
- to rank higher
- to drive sales
The list goes on and on. However, every goal will need different data.
The main goal of analytics is to perform further action. For example, if you are researching a target audience, it will then influence your messages, ad channels, creatives, etc. If you analyze the success of the affiliate program, you will later have to either get more affiliates, cut ties with useless ones, give advice to promising affiliates, or optimize your own landing pages for better performance. Oftentimes you have to test different actions and analyze them once again.
