In today’s changing and hostile environment, tracking the key performance indicators (KPIs) that give you an understanding of your company’s health is essential to ensure you’re still on the growth path. However, many small and medium businesses find it difficult to measure performance. Especially when it’s easier to lose track of what’s important and become overwhelmed with daily tasks.
So, what separates a thriving business from one that crashes? And how can one enable enhanced data-driven performance conversations and better decision-making? In this article, we’ll explore the role of real-time analytics and underrated Google Analytics features that you should probably use more often.
The benefits of using real-time analytics
Real-time analytics refers to an entire range of technological processes that help your business process through live data and make sense out of it. The support provided by the analytics system helps you make better decisions faster than ever before. And the purpose of real-time analytics is to enable your team with useful data that can give them a clear picture of the various factors that need to be considered for making a correct judgment. With the help of real-time analytics, you can:
- Monitor functional robustness, identify issues, and eliminate the process gaps
- Observe the reactions of your customers and experiment to obtain the desired results
- Determine if your current strategy suits the market trends or it is outdated
- Achieve significant savings in terms of time and finances
Google Analytics: 3 underrated features you should probably be using
Different Google Analytics features allow you to see exactly what users typically do on your website, which pages bring in the maximum traffic, or how your conversion experiments are working. And as it’s been recently discussed by experts, some of these are overlooked, even though they’re features that could open new doors for insights. Take, for example, Custom Alerts, Event Tracking, and the Insights Search Bar.
- Custom Alerts
This feature helps you organize data and notifies you when a key trend is taking shape. It also serves as an indicator when something may have gone wrong with your website. As for the new campaigns, it’s a great tool to track new traffic and engagement. So, how can you create custom alerts? Use the View panel in the Admin tab or the Customize menu in the regular reports and set it up. It’s pretty easy.
- Event Tracking
Event tracking enables you to go even deeper than typical measures of click-through rates. With this feature, you will see how far down a page was scrolled, which buttons were pressed, and know if PDFs were downloaded. This way, you’ll get a deeper understanding of how users interact with your site.
- Insights Search Bar
As for the Insights Search Bar, it is a feature that helps you question your Google Analytics in a natural language and get the answers you need right away. It is an effortless and fast way to retrieve data based on your query.
Studies show that more than 70% of businesses that monitor KPIs in real-time hit all their growth targets. Luckily, today you can find various tools that will help streamline your processes. And if you’re currently thinking about how to introduce new technology into your business operations and the steps to successful adoption, read this article to learn more.