Home Articles The Way Forward: Latest Digital Analytics Trends

The Way Forward: Latest Digital Analytics Trends

By Lijindev.K

It is easy for decision makers to feel overwhelmed by the amount of data they have to deal with. Today, the inability to chop down the hefty pile of data to get insights would be one of the worst situations a business could find itself in. This is precisely the reason why businesses are making huge investments in analytics. In this post I am focusing on some of the trends that are going to shape the future of digital analytics.

Impact of Big Data

Yes, Big Data is a reality and it is here to stay! Although businesses are grappling with this reality, they are convinced that Big Data will help them uncover deeper insights that will reduce costs and increase customer satisfaction. Better data governance will be one of the critical success factors for any organization to deal the huge volume of data in an efficient manner. Eventually companies will figure out how they can chop down Big Data into small analyzable chunks. Attracting skilled resources to tame Big Data is another critical step. Businesses have started thinking of people rather than tools and technology, when it comes to Big Data. Organizations must proactively tweak their processes, technology and resources to derive the most value from Big Data. Accenture Managing Director Jeanne Harris says that, she has been waiting for a time in which companies would deal enormous amounts of data and thus helping the business better. According to her the time is here and now managers can make better decisions from the large amount of data available, using the latest storage, databases and analytical tools.

Multi-Channel Marketing

Consumers are accessing information about brands using multiple devices. No single metric can show us how the business is performing as customers are multi-dimensional. The touch points at which customers interact with brands are various. Today it is a herculean task for marketers to track customers’ journey across different devices. There are cases where offline campaigns do have online impacts, which make the process more complex. Marketers must master the tools and methods to follow the customers and individually track them across different platforms. The technology industry, along with marketers has been working hard to build personal marketing tools and attribute sales correctly. It is high time to stop discussing multi-channel marketing and start tracking it!

Impact of Social Media

Undoubtedly, Social Media has lifted marketing to new level. Companies that have a Social Media presence believe that it is one of the best ways to interact with their customers. There is more to Social Media as it is also a platform to gain a better understanding about customers. Text mining and analysis of social data helps marketers understand the customers’ sentiments with regard to the brand. Marketers are also eagerly awaiting a tighter integration between Social Media and Mobile. A broader canvas for localized and personalized marketing is a byproduct of the Social-Mobile combo. Day-by-day, the number of smartphones out there are increasing and it is a fact that most of the mobile web traffic is primarily accessing social media.

Business Intelligence head at Nokia, Mr. Shiraz Datta says:

“Social media has and will further evolve the marketing communication space for companies across the globe. Social Media has evolved as mainstream for companies to not only reach to their customer, but as the space evolves, would require becoming a mainstream consumer monitoring/listening center. Now it is hard to believe that any consumer sector has not be touched by the magic of social media and hence with consumer and companies coming in the same space of voice; the companies needs to make the social media not only a broadcasting center, rather a listening and engagement center through analyzing unprecedented amounts of information on consumer behavior and preferences.”

Smart Search Engine Optimization

The field of SEO has witnessed a lot of changes, but SEO analytics has retained the same importance and role. Leveraging the existing tools to identify the ideal SEO tactic by understanding how customers use search, could be one of the best ways to succeed. By extension, gaining insights in to how customers use search across multiple devices can be the true enabler of Smart SEO. Also, Social Media has a big impact on search engine rankings. Google and Bing have started using social signals in their algorithms, thus making social engagement a must for digital marketers.

Predictive Analytics

The whole point of investing in analytics is to derive actionable insights and identify optimization opportunities. In analytics, there are enough resources that give us the rear view mirror perspective, but businesses should be able to look forward, and drive towards their goals. If the question a business is trying to answer is “What will happen tomorrow?” then the answer lies in Predictive Analytics. The ability to have a clear picture of the road ahead empowers managers to make smarter decisions leading to better business outcomes.

Emergence of New Metrics and Dimensions

When the way of marketing changes, so does the way of analyzing it. The emergence of new verticals within digital analytics has given rise to new dimensions and metrics. Mobile analytics has contributed dimensions like Screen Size or Resolutions, Mobile OS etc. A metric like “Twitter’s TV Rating” is obviously something that has been defined recently. Digital analytics is constantly evolving with the addition of new metrics and dimensions.

Content Remains Important

Content still remains the best way to interact with the customer. Only analytics can help marketers push the right content to the right customer, at the right time. In the coming days we will have plenty of personalized marketing and content would be the key ingredient for making this ‘personal’ connection. While the speed of creating new content and the types of content published will change, it is imperative that marketers focus on the quality of content to engage effectively with their customers.

As the discipline of digital marketing constantly evolves, so does digital analytics. Data has now taken an important place in today’s business scenario, and analytics is increasingly ingrained into the processes of organizations. In the coming months, I am confident that we will witness these changes and much more, that will radically transform digital analytics as we know it!

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