In my last blog I had explored deep into the digital Advertising world and the revenue it is generating without even walking door to door, to promote a product or selling a product. In this blog I will discuss about Google Analytics- a service by Google to analyze all the digital footprints and planning a business strategy.
Google Analytics is a service provided by Google to analyze the web statistics of a website. The basic package is free and available to all. However, some of the premium features requires a fee to be paid before using them. Google analytics gives an insight on the visitor’s demographic information like geographical location, browser used, time spent on website, referral link, area of interest, keywords searched and all other detail that could be analyzed through the user’s browsing pattern. Google analytics is deeply integrated with AdWords (a Google’s own digital advertising tool for pay per click digital advertising). It can produce up to 70 different types of reports to help make a prudent decision on the strategy and about the performance of the strategy employed in real time. This greatly helps in managing the businesses. Below hypothetical scenario explains the need of real time data:
Consider that a company starts manufacturing a shoe model, thinking that the model would do wonders and would take the sales of the company to new heights. The model gets a positive response in first 2 weeks and sells 10000 pairs, considering the demand of the shoe the company starts manufacturing the shoes aggressively and produces 1 lakh pairs. Unfortunately the demand for that model drops due to some reasons, and they get to know this after a month that the sales have dropped exponentially. This could be avoided if the correct information was known at right time, had it been the case a remedial action could have been taken to avoid such a loss.
Google does not share your information with anyone for any reason and Google analytics is free of cost for basic features and it only requires a Google account to use it. So, if you interested in some serious analysis, just log on or create an account on http://www.google.com/analytics/