Google has released a new version of Google Analytics to better monitor and track data trends, and to keep marketers and business owners aware of new opportunities.
Improved trend monitoring is the main development. It can automatically alert users to substantial changes in their data.
“Like products seeing rising demand because of new customer needs. It even helps you anticipate future actions your customers may take. For example, it calculates churn probability so you can more efficiently invest in retaining customers at a time when marketing budgets are under pressure,” says Google.
Google has improved data tracking in Analytics over time. It started natural language queries in Analytics search options in 2017 for better accessibility.
Most users only use it to track website traffic and activity. The more advanced reporting tools provide powerful insights. It helps ecommerce businesses conduct more activity online through better analyses.
But everyone wants to conduct transactions online nowadays.
Google has added new analytical metrics, such as potential revenue. It will help you earn from a specific demographic or group of customers.
“This allows you to create audiences to reach higher value customers and run analyses to better understand why some customers are likely to spend more than others, so you can take action to improve your results,” says Google.
Now, you can also create audiences for Google Ads using your Analytics data. It expands your reach to more focused customer segments and aligning with trends.
Monitoring multiple conversions
You can now measure app and web interactions simultaneously. For instance, you can monitor conversions from Google Search together with conversions from YouTube video views, and the Google Display Network.
You can include organic channels, such as Google Search, email, and social, to your comparisons. It has more insight into your wider marketing campaigns.
Google says it simplified reporting so users can find insights on what part of the customer journey they want to focus on.
“For example, you can see what channels are driving new customers in the user acquisition report, then use the engagement and retention reports to understand the actions these customers take, and whether they stick around, after converting,” says Google.
Google has made it easier to accredit specific actions and impacts. If you have an idea what you need to know, Analytics will connect the dots for you and offer more valuable insight.
Google notes that the new data points adapt to a future with or without cookies or identifiers. With stringent data regulation, tracking cookies has been slowly losing traction. Businesses need new ways to monitor audience activity.
The new Analytics tools may be the ideal replacement. Google’s data collection tools can attribute activity without tracking cookies. And it provides accurate, valuable insight.