Data, a simple concept of numbers, words, codes, databases and information have become the central layer and the point of control within the internet economy. According to Tim O’Reily ‘Data is an Asset and it is the principal asset of competitive power“; hence coined the phrase ‘Data is the next Intel inside’. The Value of such data on the semantic web grows with its users and the content. As the value of user data increases, services are increased providing with more functionality interactivity, enhancing the core data. Typical examples of such services are Google Services, especially Google Analytics.
Google Analytics is an expert web service that which tracks and stores data of every visitor to an individual specified. The complexity of data collected on Google Analytics range from how a user got to the site, browsing data, geographical location, duration of the stay and the user browser compatibilities. This data is stored on Google’s own servers for easy access, speed and let users control their own data. Importance of data on Google Analytics is that it helps the website owners to make adjustments to web pages and marketing campaigns as well as analyse the entry points to the website.
How does this Google Analytic data help out Web sites/businesses?
- Tracking website revenue – the E-commerce module will provide the business with data such as revenue by channel, revenue by keyword, conversion rate, average order and other vital financial metrics that would support the revenue of a business
- Effect on Search Engine Optimization – Identify the keywords which brings in the most traffic and optimize keywords targeting a specific audience to increase the site traffic.
- Compare historical data – websites are now able to compare seasonal and historical metrics on the site traffic. Comparisons of seasonal key words and traffic sources would allow a site to evaluate where its traffic come from and how to optimize such traffic sources.
- Improve content with regards to bounce rate – Bounce rate is the percentage of entrances to a site that would result in visitors immediately leaving the site. A higher bounce rate would signify that the content in a certain page aren’t as effective as it could be; hence, improve the site content to increase the duration of a visit and earn a higher revenue.
- Locate website errors – With Google Analytics website errors can be easily identified and rectified as a broken link or a page on a website would have a negative effect on the user experience, search engine optimization, and the overall revenue.
Challenges of utilizing large-scale data in Google Analytics
- No direct control or access – Although Google Analytics provide a comprehensive analysis on the Website performance, it cannot be directly accessed through the site. However, it can be accessed through a user account through Google Analytics itself. Also the lack of control of the Analytics creates problems when the site choose to change to another analytics software. In such cases analytics data cannot be imported from Google but have to start from the beginning.
Google VP, expressed that
“having access to large amounts of data is in many instances more important than creating great algorithms.”
Google Analytics is undoubtedly one of the most creative tools utilized by Google to harness the power of data to provide a complex business solution. A great reason behind the immense data collection by Google is that they recognize the principle of “Data is the next intel inside” and implement it into profitable applications. Data will be more valuable in the near future as more web applications are developed and the web businesses with most data will gain the competitive advantage.
- Dropship Blog. 10 Business Benefits Of Using Google Analytics [Web log post]. Retrieved from http://www.dropshipblog.co.uk/10-business-benefits-of-using-google-analytics/267/
- James, K. (2009). Google Analytics Case Study: Data is the next ‘intel’ inside. Retrieved from http://www.kintek.com.au/web-design-brisbane/google-analytics-case-study-data-is-the-next-intel-inside/
- Martinez, M. (2006). How reliable is Google Analytics? [Web log post]. Retrieved from http://www.seomoz.org/blog/how-reliable-is-google-analytics
- O’Reily, T. (2007). Google admits “Data is the intel inside” [Web log post]. Retrieved from http://radar.oreilly.com/2007/12/google-admits-data-is-the-inte.html
- Wireless Wire News. (2011). Emergence of Big Data found in Web 2.0. Retrieved from http://www.docomoinnovations.com/news/emergencce-big-data-found-web-20