Google Analytics, the most popular web analytics tool in the world, is being revamped. Millions of businesses of all sizes rely on Google Analytics to understand their customers, user journey, and to make decisions that have a direct impact on their operations.
With the COVID-19 pandemic, companies started rushing digital transformation, making data and analytics even more impactful. This is especially true for online retailers, where every user interaction represents a potential transaction.
Google created a new, ‘more intelligent’ Google Analytics that builds on the foundation of the App + Web property they’ve introduced in beta last year, which enables analysts to get better long-term ROI for marketing.
The updated GA has machine learning at its core to automatically surface helpful insights and gives businesses a complete understanding of their customers across devices and platforms.
Google states that the new GA is privacy-centric by design, so companies can rely on Analytics even as industry changes like restrictions on cookies and identifiers create gaps in their data.
The new Analytics leverages machine learning algorithms to automatically alert analysts of significant trends in their data – like products seeing rising demands due to 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. We’re continuing to add new predictive metrics, like the potential revenue you could earn from a particular 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”, according to Google.
The new Analytics also has a deeper integration with Google Ads, which allows companies to create more relevant audiences and helpful experiences for customers when they engage with the business.
A Holistic View
According to Google, the new Analytics now provides a customer-centric measurement, instead of measurement fragmented by device or by platform.
It uses multiple identity spaces, including marketer-provided User IDs and unique Google signals from users opted into ads personalization, to give businesses a more complete view of how they interact with their customers.
For example, companies can now discover even easier what campaigns are more effective, where the user is coming from, and the avenues they need to boost. For example, organizations can now easily check if a customer first discovered their business from an ad on the web, then later installed their app and made a purchase there.
This means that analysts can better understand customers across their entire lifecycle, from acquisition to conversion and retention.