Multi-channel analytics deals with taking various sets of data from different sources and linking them together. The idea is to analyze these data sets side by side in hopes of creating valuable results that can help business leaders make quick and better informed business decisions.
In today’s business world businesses and customers are connected via multiple mediums of communication. Whether is mobile, television, internet, etc…., each medium provides a potential valuable source of data. By analyzing these multiple channels, businesses can better understand their customers.
Understanding Multi-channel Analytics
Online analytics tells businesses how well online customers respond to online marketing but it fails to tell you anything about how online marketing affects offline purchase behavior and how offline marketing affects online behavior. Multichannel analytics is a process where all marketing channels are analyzed to develop a more complete view of visitor behavior.
There are many different services that companies can use to help integrate multiple data streams so that they can be analyzed. Omniture and Webtrends are two popular services that offer multi-channel analytics. These services help manage the combined data in real-time. Visiting the Webtrends site gives the following description of how they help business manage and analyze multiple channels and data.
With consumers active in your mobile, social and online properties, it’s easy to feel overwhelmed by data. You can stay focused with Webtrends Multi-Channel Measurement, which includes a unified analytics dashboard that shows you customer activity across every digital channel. A team of Webtrends experts will help you interpret your results and transform them into a measurement strategy that’s right for you. This is more than analytics. It’s an all-in-one solution that helps you understand consumer behaviors so you can create relevant experiences for all of your customers.
Multi-Channel Analytics Is A Must
With the world becoming more and more connected every day, it is increasingly important for business both large and small to implement a multi-channel analytic strategy. Companies that do will make better decisions and make them quicker, giving them a heads up on the competition and will benefit from increased revenue. Conversely, failure to do so will create disconnect with customers and disappearance from the market.