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Why Are Businesses Relying More On Digital Analytics?

Why Are Businesses Relying More On Digital Analytics?

time-clock min read
calendar3 October 2022

Once upon a time, data (and all that it entailed) was relatively simple. It allowed:

  1.     Finance to track numbers.
  2.     Marketing to count leads.
  3.     Leadership to measure performance.

Now, its capabilities are evolving. 

On top of offering businesses the ability to gain a better understanding of their organisation, market, and customers, digital analytics grants powerful competitive advantages.

Due to this, the data market is thriving and the sheer amount of insights that can be accessed is growing every single day. 

What is digital analytics?

It’s the process of breaking down the data produced by a variety of online platforms. It usually focuses on customer information (such as buying behaviour), but can also reveal key organisational and market insights. 

“You can now use digital analytics to track website and mobile app performance, understand user behaviour, map your market, evaluate the effectiveness of your marketing channels, and more. From there, you can solve issues, find areas to improve your business, and make better decisions with a data-driven analytics strategy.” 

- SimilarWeb

Do businesses rely on digital analytics in 2022?

Yes. Over time, digital analytics has started to become a core part of standard operational processes for many technologically-sound organisations.

According to our research:

Data is becoming deeply integrated into our day-to-day work and changing the shape of leadership roles like CFO and CTO.

Why are businesses relying more on digital analytics?

Admit it. Most people hate change. 

As the amount of data available continues to rise, it doesn’t explain why businesses are so quick to adopt it.

After all, some took years to even consider developing a website. Can’t they just continue on as they always have? 

Not if they want to compete in a complex, highly globalised market. The successful application of digital analytics is becoming key to business survival. 

The growing need for digital analytics data

As the internet allows your audience to access more and more of your competitors, comparing products before buying, you need a way to capture their attention and differentiate yourself if you want to guarantee a sale. 

Digital analytics provides the information you need to identify interested parties, target adverts, and deliver the best possible experience for each of your prospective leads. This way, you can:

  •     Acquire customers
  •     Convert interest into sales
  •     Quickly address any issues that arise

Ultimately, digital analytics can stop you from wasting your marketing and sales budget and actually make an impact.

Remember, people talk. If your brand can consistently offer an exceptional customer experience, referrals (and more business) will soon follow. Doesn’t that sound ideal?

The benefits of using digital analytics 

Over the last few years, a trend has formed. 

More businesses than ever before are using CRM (91%) to communicate with their customers. Why? 

Because platforms like these increase employee efficiency and produce an incredible amount of digital data that can be used to their advantage. 

Unless you want to fall behind, you need to start doing the same. Digital analytics can give you:

  1.     Competitivity: Understanding customer thoughts and actions allows you to cater directly to their needs.
  2.     Agility: As market trends arise and opinions change, you can adapt your business (and your product portfolio) accordingly.
  3.     Quality: Providing the best possible service to your audience just isn’t possible if you don’t understand who you are trying to speak to and what they want.
  4.     Certainty: Instead of making guesses when it comes to your marketing and sales efforts, you’ll be able to tell what will be effective.
  5.     Clarity: Miscommunication is awful. Backing up your decisions with data is going to drive ROI and organisational success.

In a digital age where customers are regularly using platforms like websites, mobile applications, social media, and email, your competitors could already have a way to contact them. 

Ignoring data puts you at risk of missing out on a range of business opportunities.

(Source: Marketing Charts)

How to recruit digital data analysts

Digital analytics isn’t just useful for informing employee actions on a day-to-day basis. 

It actively builds survivability into your company to give you a higher chance of meeting your goals.

As more businesses recognise the advantages of digital analytics, thousands of roles are opening up across the world. 

With thousands of open positions currently advertised on LinkedIn, you’ll face some heavy competition to secure the qualified and experienced talent you need. 

Instead, consider skipping the queue by speaking to industry recruiters Xcede. We already have a vast network of candidates looking for their next big opportunity with you. Alternatively, click here to view the latest digital analyst job vacancies advertised by Xcede.

Work with Xcede

Xcede works with top-tier data and digital candidates across the world.

Partnering with leading organisations, we take pride in supporting technological evolution and industrial revolution. Our dedication to finding experienced and diverse candidates with the right qualifications allows businesses to foster growth and continue scaling. Contact us today to get started.