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Project report on web analytics
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Many of today’s companies manipulate data to provide their customers with proper services. These companies utilize data to tailor and promote their ads to satisfy customers’ needs. However, to fluently do so, these companies need to collect, store and process customers’ historical data. Netflix, for example, is a giant data manipulator that collects customers’ data to fluently promote their products. Netflix uses web analytics tools to collect customers’ browsing data and preferences. Without utilizing web analytics, Netflix will not be able to succeed. Web Analytics Web analytics is the process of collecting, manipulating, processing and analyzing website data (Burby et al, 2007). Thus, companies will be able to figure out how customers are …show more content…
From a business perspective, utilizing web analytics aids companies earning profits and increasing their return on investment (Matous, 2015). In spite of the importance of web analytics, it will not stand alone to help the company if …show more content…
There are well known metrics that companies usually apply on their website, such as page views, visits and unique visitors (Burby et al, 2007). The measure of page views means how many times the website page has been viewed, in other words how many times a web page has been uploaded by a web browser (Hubspot web analytics tools, 2016). The measure of visits means how many times a particular website has been visited (Burby et al, 2007). The measure of unique visitor means how many times an identified user visits the website in a given period of time (Burby et al, 2007). A lot of companies consider the measure of unique visitor is a key indicator that measures the effectiveness of a website. For example, an article published in advertising age newspaper states that the New York Times overcomes the Washington Post in the number of unique visitors based upon statistical data provided by ComScore (Barr, 2016). That being said, unique visitors only count in a given period of time, which means companies can monitor unique visitors of one day or one month. Thus, the number of unique visitors is a non-additive metrics (Burby et al, 2007). This fact leads a challenge for companies, which is deleting browser’s cookies cause a problem, because the browser will not be able to figure out that the
If the organization is unable to spend huge amounts on this web analytics tools and the corresponding resources it is better to spend some money on the
Avinash Kaushik in his blog proposed the 10/90 rule. [1] According to him, many large companies that have invested in web analytics tools still struggle to make any meaningful business decisions. Apparently, there is a no dearth of data that is collected via these web analytics tools for these companies. However, the caveat here is that there is no real useful information that is being analyzed from these data. In other words, there are not sufficient people with expertise in these areas working on these web analytics tools for these companies to make any meaningful suggestions from the data for the companies to implement and in return increase their profits or whatever they are trying to achieve/gain. The 10/90 rule suggests that for every $10 invested on web analytics tools, $90 should be invested on web analysts by the company to be able to expect positive results on their investment on web analytics tools. Primarily, the data collected from such web analytics tools is useless unless an expert is analyzing that data. It is the web analyst that is critical for the success from the ...
Acts of consumption- buying, window shopping ,browsing- are routinely recorded, stored and made available for advertisers. Profiles of the lifestyles of consumers are now so finely granulated and accurate that retailers are likely to know better than the consumers what he or she will buy and when the purchase will take place . Automated programs on ones computer , known as the “bots,” have better memories of consumer preferences than does the consumer . Information machines such as TiVo gather data if viewing habits and on that basis anticipate consumer desires for
Online data tracking good because it allows companies such as Google, Yahoo, and Twitter to give you customize Internet service for better experiences. Online tracking allows advertisers to precisely target their consumer’s needs based on their b...
First, the transactional support system encompasses all of the information contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational or structured decisions. Some examples of transactional information are when customers purchase stocks, make an airline reservation, or withdraw cash from an A.T.M. (Baltzan, 54). A customer of Actionly could use this information for behavioral targeting purposes. Behavioral targeting refers to a range of techniques and technologies which allows advertisers to increase the effectiveness of their campaigns (I.S.P., 2009). Actionly’s customer could then apply this information to its current advertising strategy to ensure that they are getting the most return on their advertising investments. For example, McDonalds may choose to advertise grilled chicken sandwiches on the screen of an A.T.M. machine close to one of its restaurants at 12:00 p.m. if transactional information gathered by Actionly suggests that there is a spike in the frequency of the A.T.M.’s use at that time.
Customers' personal data is a treasure for companies looking to discover consumers' online habits and a moneymaker if they sell that information to third parties. There is a giant gap between the type of tracking that companies do on the web and what people know or think is happening. Through a conducted by researchers ”found that information transfer, notice/awareness, and information storage were the top online privacy concerns of Internet users” (Anton) The general public has very little idea that every second they surf on the Internet, their actions are being tracked and used to create a "profile" which is then sold to companies on markets. Online tracking is not the same as it used to be with the traditional cookies, it now involves new tools that gather very sensitive information about the person. These new tools include flash cookies and beacons. Flash cookies can be used to re-install cookies when the user has deleted them, and beacons can track everything a user does on a web page including what the user types and he moves the mouse. However, there are solutions to preserve privacy in the web;” tech...
Employees are not the only people whose information interest companies. To a far greater extent, businesses are looking to gather data on their users and the market in general. User data collection has become one of the most important components of market research. For example, online retailers can use data collected from a consumer’s purchase to target advertising on products that the consumer is most likely to buy....
Companies have transformed technology from a supporting tool into a strategic weapon. ”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.
Google analytics can be applied in big as well as small businesses to support decision-making processes. In sense, each kind of business has its own
There is a debate between the benefits and potential informational privacy issues in web-data mining. There are large amount of valuable data on the web, and those data can be retrieved easily by using search engine. When web-data mining techniques are applied on these data, we can get a large number of benefits. Web-data mining techniques are appealing to business companies for several reasons [1]. For example, if a company wants to expand its bu...
Customer Relationship Management (CRM) is another field where A.I. is used. There is no doubt that the internet has changed the way that businesses and corporations interact with their customers, and A.I. helps by offering a myriad of data about the customersuch as their demographics and purchasing history. A.I. offers analytics in real-time, greatly benefitting the company as it works to improve its marketing and ultimately its profits.
Many browsers keep track of where you have been on the Internet by using cookies. A cookie file is a small piece of information that a web server can store. However cookies are not without their problems. On...
The Internet has played a crucial role in the changes in the ad industry. Our society lives at a constant moving fast pace which the Internet accommodates. Through the Internet business have access to consumer information through their searches and are able to customize their ads towards a specific audience. An example consists of looking up cars on cars.com and later on going on amazon to buy something. Looking on the side while on amazon.com you would see ads from cars.com about the cars you were searching. Internet surfers can interact with ads in greater capability, which allows them to benefit directly from the ads personalized message. This is important for ad agencies to continue in the future. Studying the market in which people surf the web and providing specific ads that...
THURAISINGHAM, BHAVANI. (2003). Web Data Mining and Applications in Business Inteligence and Counter-Terrorism.Taylor & Francis.http://www.myilibrary.com?id=6372.
Cookies are used to gather statistics on how customers use the site. For example, to: