Undisputedly web holds a wealth of data which no other data source hold on the planet. These are the series of questions, which flash our mind when we hear about the word Web Analytics:
ϖ What do we do with the wealth of data available on web?
ϖ How to use it for our benefit?
ϖ Will marketing through Internet is profitable?
ϖ Which web marketing strategy will be profitable?
ϖ What metrics do we captured from web?
Obvious answer to all the questions mentioned above & many more, is Web Analytics. Gathering the data from web & cleansing the data to get meaningful information is at the heart of web analytics. Say a person has seen an ad which browsing the internet & then saw an ad while he was checking his social media (e.g. Facebook) & then has started checking his email and saw an email with the same ad & then while commuting to office has seen the ad on mobile. Finally he purchased the product. In this scenario, which mode of marketing has triggered him to purchase the product.
In order to crack this business problem, one has to capture the meaningful information on how much time has been spent by the person exploring the ad & multiple other parameters such as browsing behavior. This is where business analytics with statistical knowledge comes in handy to take business decisions for profitability. Regression techniques are used extensively to identify and model for predicting the right forum for advertising.
A bunch of other possibilities in web analytics is analyzing text information posted on social media. From there on one can perform sentiment analysis to tease out the positive and negative word analysis. Perform network analysis to identify the key person for marketing & couple this with semantic network analysis. The possibilities are endless which can be learnt from a well structured course content designed by pioneers in data analytics such as ExcelR Solutions , IIM -B (Indian Institute of Management) where all the trainers are data scientists having on an average 15 years experience & alumni of the FT 20 Business & Technical schools.
Author Mr. Bharani is a senior Data Scientist , Director of ExcelR (www.excelr.com)