Measuring & Tracking Tools That Use Analytics
Analytics is the measurement, collection and reporting of consumer data for the purpose of determining the state of the market and revising business strategy accordingly. Analytics are used nearly everywhere, from banks to estate agencies, but their use is essential in Internet business, particularly in social networks such as Facebook and Twitter. Traditional data analysis utilized information from either the Census or lengthy interviews. However, the fast-pace nature of Internet commerce has resulted in the development of specialized measuring and tracking tools.
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Reason for Measuring and Tracking Tools
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Internet businesses operate in an ever-changing environment, where even the most thorough consumer demographic research can prove useless only a few weeks later. For example, the number of visitors to a website fluctuates daily. Therefore, past trends cannot give a safe picture of the future. In addition, the vast number of a website's user actions needs constant tracking--only an automated tool, working 24/7, can do this job.
Widely Used Tools
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Renowned measuring and tracking tools include bit.ly, Klout, Trendrr, Hootsuite, Backtype and the measuring tool by Compete.com. These tools are essential for social media professionals who want to find out more about their audiences and tailor their pages and/or content according to their needs. Apart from the aforementioned tools (which have more or less general use), Twitter Counter, Twitter Analyzer, Tweetstats, Facebook Insights and Youtube Insight are used to exclusively track and measure data on Facebook, Twitter or Youtube.
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How These Tools Work
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From the moment a user enters the website, measuring and tracking tools examine his or her "movement" within its content. Whatever video, picture or text a user watches and reads is stored on the tool's database, along with the pre-existing data on the user's location, age and gender (if these personal details have been provided). The tools use this information to compile detailed charts of categories such as time on site, topics preferred and activity on site.
Gains for Business
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Businesses can determine what attracts Internet users to their products (websites) and the profile of those users. Such data can be used to optimize the content of their products, in order to attract even more visitors falling under the dominant profile. It can also be used to generate methods to widen their approach. Furthermore, data from measuring and tracking tools can be used to personalize advertising on a specific site, by including products appealing specifically to certain groups. For example, car advertisements are more appropriate for sites with a predominantly male adult audience.
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