Google Analytics has been updated with “machine learning at its core” to provide new ways to monitor and track key data trends, as well as alert marketers and business owners to new opportunities.
The key evolution here is improved trend monitoring; using Google’s evolving tools, the new Analytics can automatically alert users to significant changes in their data:
“Like products are seeing increased demand as a result of new customer needs.” It can even help you predict what actions your customers will take in the future. For example, it calculates start cranking probability so you can invest more efficiently in customer retention at a time when marketing costs are high.”
why Google analytics Improving its tracking system?
Google has been improving its data tracking within Analytics for some time, even including natural language queries within its Analytics search options back in 2017 to make them more accessible to all users. Most Analytics users still use the tool to track website traffic and activity, but the more advanced reporting tools can provide some powerful insight, particularly for eCommerce businesses and those looking to conduct more online activity.
Which, in 2020, is pretty much everyone.
Google has also added new predictive metrics, such as potential revenue from a specific group of customers.
“This enables you to create audiences to reach higher-value customers and run analyses to better understand why some customers are more likely to spend more than others, allowing you to take action to improve your results.”
Users can now measure app and web interactions together, which means you can monitor conversions from, say, YouTube video views alongside conversions from Google Search and Google Display campaigns.
You can also include organic channels like Google Search, social media, and email in these comparisons to gain a better understanding of your overall marketing efforts.
Google Analytics reporting
According to Google, reporting has also been simplified and reorganized so that users can find marketing insights based on which stage of the customer journey they are most interested in.
“For example, in the user acquisition report, you can see which channels are driving new customers, and then use the engagement and retention reports to understand the actions these customers take and whether they stick around after converting.”
This gives you more options for digging into the data and focusing on specific trends.
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It will take some time to fully flesh out the value and utility of each of these new elements within your own process, but Google has essentially made it easier to attribute specific actions and impacts, which means that if you can think of what you need to know, Analytics will now be able to connect the dots for you, providing more valuable insight.
Google also mentions that the new data points are intended “to adapt to a future with or without cookies or identifiers.”
Because of increased data regulation, cookie tracking is gradually being phased out, which means that businesses must find new ways to monitor audience activity and attribute it to their efforts. The new Analytics tools could be critical in this regard, with Google’s data collection tools capable of attributing activity without the use of cookie tracking while still providing accurate, valuable insight.
It’s difficult to quantify the full value of these new features because it will depend on specific use cases, but they are definitely worth investigating, while also considering what information you really need from your website data and what you can use to maximize your campaigns.
Some of that will most likely come from trial and error, but the more you look, the more likely you are to find increased value in the new Analytics options.
