Are you utilising your analytics tools and collecting the right data to meet your KPIs? Do the correct people in your organisation have access to analytics and reporting to ensure business goals are met?
The truth behind analytics tools
Google Analytics is a tool that many businesses rely on, perhaps a little too heavily. Some argue it is outdated and there are better tools on the market and for some, it is the source of many important business decisions.
One of the challenges with Google Analytics and other analytics tools that we see when working with clients is that the responsibility for the tools are often divided between IT or development teams and marketing departments, with no clear ownership. This can present challenges in itself.
Firstly, key stakeholders in the company may be lacking insights due to lack of transparency and inaccurate reporting. If the wrong metrics are measured and the wrong data is reported, this can have a crucial impact on business decisions.
Secondly, if the ownership of analytics sits with the marketing department, often the team lack the technical insights to manage the tool and set up key goals and KPIs. They are also often reliant on IT or development teams to make implementations but do not have the authority to have tasks prioritised within these teams. This leaves them dependent on other departments for time-sensitive implementations, and potentially missing vital opportunities for tracking and insights.
At Lighthouse8, our Digital Transformation team identifies clear KPIs in collaboration with our clients to ensure the correct metrics are being measured in analytics accounts. Together with our Business Intelligence team, we make sure the right tracking is in place to measure goals, and that data is shared through our Customer Intelligence Platform to reach the right stakeholders.
When onboarding new clients, or working on new campaigns with existing clients, there are four key approaches we review when it comes to analytics and tracking:
1. Data integrity
What analytics tools are being used, if any, to track data and is it being tracked correctly?
2. Data quality
What data is being tracked? Is it providing the right insights to all the stakeholders in a company? How can our Business Intelligence team optimise on the data being collected and presented?
3. Data visualisation
How can the data be presented in a simplified way, presenting the highlights (and lowlights) as well as key action points, rather than the nitty-gritty details, formulas and calculations behind the data?
4. Data maturity
Is the focus correct? Data may be measuring specific campaigns or conversions, but is the analytics data providing the right information to make key business decisions?
At Lighthouse8, we focus in providing customised, accurate data visualisation in one dashboard. Our Business Intelligence and Digital Transformation teams ensure that our clients capture the right traffic and analytics.
Want to know more? Talk to us today about how we can work with you to improve your business intelligence with Pharos.