The big data analytics advantage: Analytics industry (part 2)
In our previous installment, we explored the six main areas of the analytics industry and the leading players providing website, app, social, advertising and customer analytics solutions. All these platforms and services provide business leaders with crucial information about their customers and their behavior on brand properties.
However, there are still some blind spots, which only big data analytics can fill. These blind spots fall under two main categories: Domain specific activity and cross-site behavior. By definition, big data analytics relies on extremely large data sets that are utilized to detect trends in consumer behavior and online interactions. As such, big data analytics can reveal insights into specific websites, apps and platforms, as well as consumer online behavior as a whole.
Domain specific big data analytics
For any website, including your own site, it’s advantageous to know:
1. Sites users visited prior to the site in question: Clickstream data from Jumpshot’s 100-million global consumers panel can tell you exactly where visitors were before landing on a site, including specific web pages, search queries and social posts.
2. Organic, “(Not Provided)” keywords driving conversions: The guessing game and workarounds for getting “(Not Provided)” keyword information for your site can end. Jumpshot’s Keyword Conversions solution reveals consumer organic search queries driving traffic to your and your competitor’s sites, as well as attributes conversions back to the keywords and campaigns that generated them.
3. Competitive intelligence and sales analysis: You analytics can reveal the sources of traffic and conversions on your site, but not for your competition. With Jumpshot’s Site Analysis solution you can dive into any website’s traffic, conversions and audience to evaluate how well you compete for converting traffic coming from search, social, referral, display, retargeting, email, and direct channels.
4. Where visitors went after they left a site: Traditional web analytics services can only tell you where visitors went if they clicked on an outbound link from your site. For all the other instances where visitors leave by going directly to Google, Facebook, or some other site, Jumpshot can tell you where they went and what they did there.
Cross-site big data analytics
You cannot claim to fully understand your customers if you only know what they do on your brand properties and neglect the 99% of the time they are not visiting your site. Across the entire internet, it’s advantageous to know:
1. The entire customer journey: From product discovery to purchase, Jumpshot maps out multiple site path-to-purchase activity to reveal when and where customers encounter the brand and shed light on the forces that motivate them to action.
2. Behavior analysis: Jumpshot’s Audience Analytics solution allows you to define virtually any customer cohort based on their actions and investigate the behavioral differences between different behavioral cohorts such as the differences in streaming, shopping and searching behaviors of online daters by site, or between Hillary Clinton and Donald Trump supporters.
3. Marketplace performance: With in-depth purchase data all the way down to the product/SKU level, you can use Jumpshot’s Marketplace Report to analyze e-commerce sales on online marketplaces like Amazon by product, brand, or category. You can even compare the search, add to cart, cart abandonment rates and successful conversions rates for brands and customer cohorts (i.e. Prime vs. non-Prime members) to understand which customer segments you should focus on.
Bottom line: Don’t over rely on the analytics behind your website, apps, social media, and paid media. Get the big picture, identify opportunities and further your business with big data analytics from Jumpshot.