Web analytics is not as simple as it used to be a few years ago. In this digital age, competencies such as cloud, social, mobile analytics, and related data technologies have developed as catalysts for core business disruption. The amount of data accessible today can simply prove to be crushing while formulating an effective marketing strategy. Also, there is an explosion of devices and channels from which data has to be traced, making digital analytics an even more scary task for marketers. But, the developments in digital analytics have fully-fledged leaps and bounds in the past few years. In this blog, Quantzig has listed the top trends in digital analytics for 2018.
According to the digital analytics experts at Quantzig, “In this age where companies follow a data-driven marketing strategy, digital analytics is the way ahead for forward-thinking companies.”
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Top trends in digital analytics for 2018
- Prescriptive analytics: This year, companies will be progressing to prescriptive analytics from predictive analytics. This means that marketers will now get information on not only what will happen next but will also be educated on what course of action must be taken during a specific event. Automation is the new trend universally, and automated data-driven insights and decisions are certainly on the cards for digital analytics this year.
Multi-channel attribution: The number of platforms and devices
that customers use online is growing with time. It is also affected by
factors including the task they want to achieve, the amount of time a
person has, their location, and even their state of mind. For example,
for a quick search for specifics regarding products, customers may
depend on a mobile platform, but the actual purchase might happen on a
desktop. So, major companies are performing digital analytics for
different platforms before they formulate their next marketing
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- Data monetization: Recent businesses are blessed with a richness of data, but the big question here is how to properly make use of the data and turn them into valuable insights for driving future action and cause a direct influence to bottom-line revenues. To perform data monetization effectively, organizations must measure data around customer transactions and interactions across channels and devices. This should be done either in the form of growing revenue streams or using the data to generate values within the organization that would finally result in reduced costs. E-commerce giants such as Amazon are already steering their efforts in this direction.
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Quantzig is a pure-play analytics advisory firm concentrated on leveraging analytics for prudent decision making and offering solutions to clients across several industrial sectors.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.