The digital analytics is the study of data (both quantitative and qualitative) about an online business, in order to improve their results. This analysis requires well-defined objectives and a large amount of information to measure the results.
It requires a lot of planning and a well-defined strategy, with clear and achievable objectives. But what is often not entirely clear is how to assess whether the objectives of an e-commerce are being achieved or not..
Analyzing the information related to your online store allows you not only to understand if the results obtained are as expected, but also to be able to react in time in case you have to make a change in the strategy. Namely, data gives you the power to make decisions.
Today, data management impacts several areas of a business: marketing, sales, among others
What is digital analytics?
We call digital (or web) analytics the study of data (both quantitative and qualitative) about an online business, in order to improve their results. This analysis requires, on the one hand, well-defined objectives and, on the other, a large amount of information to measure the results.
For example, in the case of an online store, the main objective will undoubtedly be to generate sales. What data will you need if you want to understand what is happening with the goal of generating sales? The most important will be:
- The number of visitors your store receives.
- The number of them who see a product.
- Who clicked ‘Buy’.
- Who finally entered their payment information and made the purchase, which is considered a conversion.
Within web analytics, we can talk about two types of conversions of an online store: the “macro conversions” (for example, selling a product) and “micro conversions” (could be a person who subscribes to your ).
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What are KPIs?
Those of your company, that is, the key performance indicators (or key performance indicators) start from the objectives that we saw above and They are usually represented with absolute numbers or percentages that will allow you to measure the effectiveness of each action in your store..
The main KPIs of an online business could be:
- visitors: number of people visiting the site.
- conversion rate: percentage of visitors who buy in your store, it is obtained by dividing the unique visits by the sales.
- : Average amount spent by customers in your store in a given period.
By themselves, the KPIs will not tell you much: you will only see numbers and percentages. The interesting thing is to compare these figures with other stages of the online store and understand how they are evolving.
What is the digital analysis process like?
Based on everything we have just seen, we can say that the digital analysis of an e-commerce consists of four main stages:
1. Set clear goals
Without this important step you will be blind, not knowing what the focus of your business is and what you want to achieve with your daily work.
2. Define the KPIs
Depending on the objectives set, it is recommended that List a series of indicators that will guide you to achieve the goals of your company. It is preferable that you identify the three or four most important (as in the example above), than that you have too many KPIs and it is difficult for you to evaluate their results.
3. Collect data
Once you know the global goals and KPIs of your business, it’s time to collect data. If you are working in an online store, you will have to to get that information.
4. Create a report
With Analytics you will be able to create reports to cross all the data you obtained and be able to analyze it in depth. The reports will allow you to filter by dates, know which were the most visited pages and have a global vision of the performance of your online store.
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5. Adjust details and test
After analyzing all this information and drawing the pertinent conclusions, it is time to act: you are going to have to make the necessary changes and wait a while to see how they work. To see if these changes were positive, you will have to collect information again and analyze it..
Summary
Digital analytics is a powerful tool to understand how your business is running and make decisions to improve your results.
We hope that from this article, you can begin to analyze the data of your online store and apply the best ones necessary to boost your business.
And if you are looking for a platform to , try Tiendanube free for 30 days and access the most complete e-commerce solution.
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