Analytics is the bible for
any business. Old or new alike. When online trends were emerging,
there were only a few options in the legion of analytics. Now, we are
spoilt for choices. So how do we come to a conclusion in choosing the
right analytics for our business?
Positioning:
Before we go hunting for that perfect
analytics solution, we must understand our context of
business/offering/need. By context, we mean the frequency of customer
tracking, their appeals, searches, purchases and navigation. For
example, if it is an e-commerce portal, your website can’t make users
wait for more than a dozen seconds in the checkout. This will mean
real-time tracking of the user right through the transitions that
last from search till payment.
Stamina V/s
Tackle:
Different businesses have
different needs. For example a magazine publishing website will want
the user to spend more time on the website by suggesting trending
topics, relevant content based on the previous topics the user has
read or commented on and shared, etc. But a ticket booking company or
a customer service company for that matter will want to get to the
next customer as soon as possible. They want to resolve the problem
as quickly as possible and move on to the next person in the queue.
So whether a business is in need of anayltics that prolongs a user’s
spend time on the website or reduces it by suggesting and showcasing
the right portals and answers is a determining ingredient in the
selection process.
User-friendly:
What’s the use of spending thousands of
dollars on the most robust and sophisticated analytics systems if
they are complicated after a certain point? The whole philosophy of
analytics is to make life easy and effective for businesses by
observing and serving relevant content to the user and helping the
business create better user experiences for the user.
Autonomous:
Businesses are reducing manpower to
reduce costs. Any analytics chosen must be built with the capacity to
work well within the limitations, adapt itself to the ecosystem, tune
automatically to the changing trends and be able to self-monitor and
deliver results when asked, instead of having to manually make
adjustments from time to time.
Beyond
over-the-counter:
Most analytics come
pre-built. But analytics don’t work that way. With every business
having its own unique sets of requirements, the analytics tool must
be custom-made in order to cater to the needs of the business with
the ability to go beyond the normal query and OLAP drill-down
functions. The tool you choose must also be able to mine data,
forecast, model scenarios and optimise solutions to enhance user
experience.
Small and medium-sized
businesses, by adopting revolutionary analytics tools and implements
will be able to pave way for better business models and engaging
customer experiences.
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