Google Analytics provides insights into customer preference and improves customer experience by millions of small and large businesses. With the advancement of technology, more and more businesses are going online, businesses are under high pressure to get a return from every penny invested.
Insights from Analytical tools becomes more crucial to keep track of customer behavior and preference. In a survey from Forrester Consulting, improvement of the analytics is considered a top priority by many marketers. Existing analytical solutions are not enough to completely comprehend customer preferences and extract insights from their data.
Google is developing new Google Analytics which is more intelligent with machine learning at its core and foundation of App + Web property. Machine learning will extract helpful insights to provide a better understanding of customers across different devices and platforms. With its privacy-centric design, one can depend on Google Analytics even when changes in cookies and identifiers policy create gaps in your data.
- Improves marketing decisions and stronger Return on Investment: better predictions on the customer buying behavior and demand, better customer retention. Addition of new predictive metrics like potential revenue.
- Churn probability in the Analysis Module: due to integration across Google’s marketing products, improvement in ROI of marketing expense. New Google Analytics can measure app and web interactions jointly, it can also measure YouTube engagement viewed across the web and in-app and present in reports to basically provide an amalgamation of paid and unpaid marketing channels and reflect the integrated impact of all the marketing efforts.
The division of metrics is based on customers rather than by device or platform. Use of multiple identity spaces to facilitates a more complete view of how your customers interact with your business. It will help us to understand customers in different phases of the customer lifecycle i.e., acquisition, conversion, and retention. For example, one can track whether the customer first discovered the business on an ad or directly downloaded the app and made purchases.
The new Google Analytics has lots of new and relevant properties and a good place to invest for future opportunities. Marketers who are using existing Google Analytics can take advantage of new Google Analytics by creating a new Google Analytics 4 property (formerly, App + Web property) along with the existing properties. It will keep the current implementations intact while also allow one to gather data and benefit from innovations at the same time.