What is real-time analytics you ask? Well, when you break it down “real-time” translates to instantaneously, information arrives as soon as it happens without being stored and retrieved later. Analytics is when a system processes and analyzes data or statistics to generate meaningful information regarding the captured information. So when we use the real-time analytics in regards to blogging it refers to information gathered as it happens on your website and displayed in a way that helps you see different trends, the site traffic, page views and how long each page was viewed, etc. Analytics provide value to a blogger as they can come to different design decisions, user experience decisions and content decisions based on what they analyzed with real-time analytics.
A lot of companies realize the importance of real-time analytics because it’s the best way for them to understand their user or customers. Data analysis has become an integral part of many businesses to track their audience behavior. Now companies can find accurate and relevant data instantly. Moreover, in such a competitive marketplace, having instant results drives you to redesign products and marketing plan based on the activity of your users, maybe your site is not as user friendly as you initially thought it was.
Analytics reports are gaining more focus as customer loyalty, customer retention and customer delight have become the deciding factors behind any business strategy. Here are 4 ways to benefit from real-time analytics:
Fast and Accurate Results
Classifying the data instantly, before collecting and storing in the database can be the greatest advantage for your website. Real-time analytics helps in predicting data trends, enabling decision-making quickly and efficiently as compared to conventional decisions. In real-time, data can be consulted immediately rather than waiting to retrieve and analyze data.
High performance analytics helps you take better operational decisions, improving the quality of strategic and tactical decisions. For example, a telecommunication company cut the time required to analyze the data stored in enterprise data warehouse (EDW) from 12 hours to just one minute.
Monitoring Audience Behavior
How well do you know your audience? Industry leaders have always emphasized this question. To provide the content that your visitors will find engaging and tailor it based on their behaviors, it’s very important.
Real-time analytics provides audience insights about your demographics, needs, search behavior, sessions, viewed content and social involvement, thus helping you to support your strategies. You can implement some effective real-time analytics tools on your blog or website, offering dashboards that update immediately.
Opportunity to Improve
Being able to see all roadblocks and loopholes that are frustrating for your visitors can be extremely valuable, not to mention you have the opportunity to make changes and adjustments to your site to remedy these problem areas. Insights provided in real-time (behavioral, demographical etc.) will help you make those decisions instantly.
There are so many ways to adjust your site to make it user-friendly, as you can see in this article by Kissmetrics.
Customer Satisfaction
Today, meeting your customer’s expectations is how businesses define their success. A satisfied visitor is the most prized possession.
Real-time analytics improves customer’s experience and helps to maximize customer satisfaction and market share. According to Alteryx, 63% of companies use analytics to enhance customer satisfaction.