The terms business domain analytics and web domain analytics have created a lot of confusion, but let us assure you these two concepts have completely different functionalities.

Business Domain Analytics

Business domain analytics includes analytics applied to business functionalities and processes. Let’s take a look at some of the features of business domain analytics:

●      Customer analytics

Customers have become empowered and more connected than ever. They have access to all information at any point of time. Customer analytics allows organizations to predict customer behavior while they are interacting with their firm. This feature studies a customer’s lifestyle preferences and purchasing habits and gives analysts the ability to predict accurate future buying trends that can help in offering relevant services to customers.

●      Advertising Analytics

This feature provides a comprehensive service that analyzes audience information, advertising consumption behaviors, and their content preferences. This feature also incorporates other advanced functionalities like normalizing disparate data for effectively measuring advertising campaign effectiveness. Thus, advertising analytics provide new fundamental insights into market revenue.

●      Risk analytics

Risk analytics provides clearer visibility into problems that are linked with managing risks in key areas like operations, finance, regulatory compliance, e-commerce, and supply chain. Many businesses still lack the techniques and methodology to fully exploit external and internal sources of risk data.  By utilizing this feature, businesses can quantify, measure and predict risks, thereby relying less on an intuitional approach.

Web Domain Analytics

Web domain tracking encompasses broad tasks like monitoring multiple websites, checking your website traffic and analyzing cross-domain traffic for evaluating an organization’s marketing effort.

Let’s take a look at the features of web domain analytics tools:

●      Ecommerce Tracking

This feature allows you to scrutinize the amount of revenue and number of transactions a website generates. This feature is implemented once the customer has completed its checkout process.

●      Conversion Tracking

This is a powerful feature that allows you to inspect how accomplished your ad campaign is. It examines leads, downloads, sales, email sign-ups, and several other key actions. The data that gets recorded by conversion tracking helps analysts in identifying specific areas of a business campaign that are not working. Depending on your business, it also scans several other aspects such as whether a customer is making a purchase, or just signing in for a newsletter.

●      ROI Tracking

This feature not only allows you to measure ROI of search traffic, but also lets you measure the ROI of all ongoing marketing campaigns.

Using web and business domain analytics can combine your information technology data, statistical data, quantitative techniques, and computer-based models into one. This will empower you to make business decisions that are well thought and thoroughly researched