The attention of digital experts is often immediately
captured at the mention of Business
Analytics. This is because Business
Analytics is a vital aspect in the decision making process in numerous
corporations that interact with digital data on a daily basis. However, its
importance is not only vital today, but it’s considered necessary for the
survival of the digital economy in the future.
Analytics helps measure performance,
inform business decisions and help corporations maintain a competitive
advantage. Essentially, it is a corporate asset that plays a part in the
success of a company and often depends on analysts and the quality of the data.
Business analytics basically come
with the increase of Big Data, which was born out of the inception of the
With the internet, come search engines, websites and digital
marketing strategies. Business analytics such as app and web analytics helps gather information
on consumer behaviour and deliver their needs and wants as per customer
Nowadays, the success of corporations and even techpreneurs solely depends on understanding
the concept of Analytics and how to leverage it. In other words, the growing wealth of
information online is limitless, and by utilizing Analytical stack, you can access quality data easily and quickly.
To put it simply, the analytical
stack is the data infrastructure that maintains the limitless amount of
data availability. It a system of applications that gathers, analyzes and
identifies that value of data.
For a company /business to remain viable and operational in
this day and age, adapting to the changing technologies cannot be understated.
According to Justin Bauer, a 2x entrepreneur
and Head of Product at Amplitude, at least half of the Fortune 500 companies no
longer exist since the year 2000. The reason: the lack of integrating the
So far, we’ve seen that business analytics is highly important. Below, we take a deeper look at its importance, and with
that, its future especially for strategic decision making for tech
Analytics uses the collection of data to study the behaviour
of their customers as they interact with their digital products. From web analytics to Google analytics, the future of analytics is moving towards
focusing on the message, how it’s delivered and how it’s received by the
Analytics is also moving towards understating the user’s
location and time zone. All these factors combined are geared towards enhancing
customer experience and customer engagement.
Rise of Mobile
We no longer live in the days where information is received
through computers and/or laptops alone. Digital innovation and advancement have
equipped consumers with other digital devices such as smartphones,
smartwatches, tablets and digital personal assistance just to name a few.
For a business to survive or a techprenuer to remain competitive, it needs to meet consumers
halfway or all the way. This is where the importance of mobile applications, as
well as App analytics.
Just like with the inception of the internet demanded an
online presence for businesses through websites; Big Data will demand
businesses and techprenuers to
evolve. Business analytics will
evolve into more aspects than web
analytics or even Google analytics.
Yet, as it evolves and changes, so must business and techprenuers in a bid to remain viable.
Written by : Meesh's Marketing Blog
I’m a savvy business entrepreneur, marketing maven, tech geek and blockchain enthusiast, who enjoys developing company brands and curating harmonious global teams. A natural people engager, I enjoy learning what makes people tick and have a passion for developing talent.
Subscribe To My Newsletter
Get the latest Articles, and Special deals.
I barely send emails, only when I know it’s good and that you will benefit from it.