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Analytics Tools

This document discusses various analytics tools that businesses can use to track key performance metrics and make data-driven decisions. It identifies important financial metrics like profit and return on investment that are commonly used to measure success. It also stresses the importance of non-financial metrics to assess other aspects of business performance. The document then provides overviews of specific analytics tools like Tableau and Google Analytics that allow users to collect, analyze, and visualize various types of business and marketing data. These tools help organizations monitor key performance indicators and understand customer behavior to guide strategic decision making.

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Arelis
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14 views

Analytics Tools

This document discusses various analytics tools that businesses can use to track key performance metrics and make data-driven decisions. It identifies important financial metrics like profit and return on investment that are commonly used to measure success. It also stresses the importance of non-financial metrics to assess other aspects of business performance. The document then provides overviews of specific analytics tools like Tableau and Google Analytics that allow users to collect, analyze, and visualize various types of business and marketing data. These tools help organizations monitor key performance indicators and understand customer behavior to guide strategic decision making.

Uploaded by

Arelis
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Analytics tools

Business and marketing as vast retention in the competitive corporate world have data that
could be expressed in numbers, graphics, tables, reports, etc. There are metrics to know what
we have to track, what aspects require that we focus on measuring. Also, some tools let you
track the data collected, then show you in a dashboard the measurement process with the results
of your website traffic.

Performance metrics are figures and data representative of an organization’s actions,


abilities, and overall quality. These performance metrics vary, from and can be either sales, profit,
return on investment, customer satisfaction, reviews, overall quality, or even reputation in a
marketplace. Depending on the industry, performance metrics can vary considerably.
Performance metrics are very important to an organization's success. Organizations must select
their chief performance metrics to focus on because these metrics help guide and gauge the
success of a company. To maximize the usefulness of success factors, if they need to be
acknowledged and tracked. There are also business measurements that must be managed
carefully to ensure that correct answers are received and that the right questions are being
asked.
Bellow are financial measurements that are typically used by businesses as indicators of
success:
● Profit
● Return on capital employed or return on investment (ROI)
● Market shares
● Stock price
● Earnings growth

Non-financial measurements should also be used because they help assess, report, and drive
success. Decision Matrix Analysis is a useful technique to use for making a decision. It is very
powerful when used with good alternatives to choose from with different factors to take into
account. This qualifies it as a good tool to use in almost any important decision whenever there
isn’t a clear preference of choice.

Excel is a tool that can measure data although it does not track your metrics like an analytic
tool. It helps you organize and show you results. If you have your measurement methods to know
how many visitors your website has and what is your revenue. You can use Excel to divide the
revenue by the number of visitors to get a figure for visitor value. For example, a site with 45,000
visitors that makes 15,000 per month has an average visitor value of $0.33. It helps you to make
decisions on your advertising spend, if you spend $0.27 per click, you can afford to spend more.

There is much software that businesses use to track data, but we could talk about some tools
that are very useful in marketing analytics:

Tableau

A tableau is a software of business intelligence that helps people understand data. It has
some tools with specific options:

● Tableau prep: It lets you combine, shape, and clean data, you can save time on cleanig
data and automate dta prep flows
● Tableau Desktop: analyze data, and build visualizations.

● Tableau online and server: You can have your data in the cloud, and organize better with
your team.

● Tableau mobile: You can have the app to monitor your KPIs.

Google Analytics is also one of the common tools used by 29 million sites based on BuiltWith
all over the world to gather detailed crucial information, they gather the information that is
intangible like clicks, likes, traffic, and share and turn them into data that can guide marketing
teams to create marketing strategies. Google Analytics gathers data through what they call java
tag that will be added to your website’s URL, and this remains on the web browser of each visitor
and collects data and sends it to Google analytics. Once Google Analytics gathers those data it
can create customizable records and give you a visualization of what is happening on your
website, it can also help you know what the trends are, know where they are and what their
behaviors are such as they use a desktop or mobile devices when they search or go to your
website, what page did they stop and exit on your website and so on. Companies use Google
Analytics because it is free of charge. You just need to create a google account and Google
conducts training on how to use it so there is support on using Google Analytics.

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