12 Commonly Asked Questions in Analytics (and their answers)

Analytics is a confusing topic for many people. This can be especially true for first time analysts. What do you look for? What questions do you ask? How do you interpret the data? This blog will answer 12 of the most common analytics questions asked by people interested in analytics.

1. What is a Bounce Rate?

A bounce rate, in a nutshell, is the percentage of people who visit your website and then immediately leave. If a person visits your site, looks at your homepage for a second, then leaves, your site has a bounce rate of 100% (so not very good.) It’s a popular metric because it can tell you a lot about your website, but it’s not the only metric you should be looking at. For example, if a person visits your website and then clicks through to your blog, but never returns to the homepage, your bounce rate will still be 100%. In that example, you’ll want to check your exit pages to see why people are leaving.

2. Why is bounce rate important?

A bounce is the term used to define a visit in which a person enters and leaves your website within the same session. The bounce rate is calculated by dividing the total number of visits in which a person bounced by the total number of visits in a given period. We can use this concept to evaluate how well your website is performing and how useful your content is to your visitors. An individual visit is classified as a bounce if the user:

● Does not view another page

● Does not interact with the website

● Does not interact with a page element

● Does not complete their visit

● Does not engage with a page element.

3. What is a Conversion?

A conversion is a goal (or action) on your website. When a visitor completes the goal, they are considered to be a conversion. For example, when a visitor buys your product online, they complete the goal to make a purchase. A conversion doesn’t necessarily have to be an online sale. A conversion could be an email list sign-up, a subscription, an event sign-up, or making a phone call. The key to making a conversion is to measure what you want to achieve. If you want to get more email subscribers, then you should measure how many subscribers you can get. If you want to track sales, then you should track how many sales you get. If you want to get more customers, then you should track how many new customers you can get.

A conversion is defined as a specific action you want a visitor to do. A conversion has a specific goal associated with it — such as purchasing a product, filling out a contact form, or any other action you want a visitor to take. For example, if you have a contact form on your website, you might want to track the number of people that sign up for your newsletter using that contact form. The goal in this case would be newsletter signups and the conversion is the contact form submission. All of your website traffic doesn’t necessarily have to lead to a conversion. When someone visits your website, not all of them will turn into customers. Some will just be browsing and will never enter contact information or make a purchase. This is known as a bounce. You can also have a conversion on your site that doesn’t lead to a sale. For example, you can use a contact form on the site to send your subscribers a newsletter that goes out every week. This doesn’t lead to a sale, but it is considered a conversion by Google Analytics.

4. What is a Conversion Rate?

I am sure you have already heard about conversion rate. But, do you know what it means? Have you ever wondered, what is a conversion rate? Okay, let’s get started. What is a conversion rate? Basically, a conversion rate is the number of times a visitor of your website or app makes a purchase or performs any other action on your website (the goal of your website). This action can be purchases, downloads, subscription, registrations, and any other actions. Conversion rate is expressed as a percentage and calculated by dividing the total number of conversions by the total number of visitors. Here is an example: Conversion rate = 10,000/ 100,000 = 10% So, if you have 10,000 visitors on your website and 100 people made a purchase or perform another action, your conversion rate would be 10%.

When you’re trying to grow your business, you’re going to want to know: what are my goals? How are people finding my business? How many people click on my ads? What are the demographics of my users, etc. All of these questions and more can be answered by analytics. Analytics is the process of gathering data to measure the performance of your website or application. The data is then used to make decisions about how to improve your business. Analytics is often viewed as a confusing, overwhelming, or intimidating concept by many. But, it doesn’t have to be. Analytics is a simple way to measure success and understand where your business is at. And, if you’re going to grow your business and make the best decisions, you’re going to want to know what you’re doing right and where you can improve.

5. What is a Conversion Funnel?

Conversion funnel is a marketing term used to measure the number of visitors that an online campaign has generated and the percentage of those visitors who have converted (however the business might define that conversion). A typical conversion funnel will have two stages: awareness and consideration. Awareness stage This is the point at which the potential customer has become aware of the brand or product and has decided to learn more about it, by visiting the website, doing research on the internet, and so on. Consideration stage This is the stage where the customer has decided to take the plunge and buy the product or service. Jun-06–2017

The conversion funnel is one of the most common tools used in online business. It helps you to understand your customers by following their progress throughout your site. It is one of the most important tools in analytics and understanding it is a vital part of the analytic’s job. Every e-commerce site should have a conversion funnel in place. The conversion funnel is the process of transforming a lead into a customer. It tells you the steps your customers go through on your website to complete a purchase. If you’re an e-commerce store, the conversion funnel will look like this:

6. What are the different Kinds of Conversion Funnels?

Conversion funnel is a term that is used to describe the process of a user interacting with your website and finally purchasing your product or service. It is a process that can be divided into various steps which are:

1)Awareness: It is the process of familiarizing with the product or service and its features.

2) Consideration: This is the stage in which the user decides that the product is what he/she is looking for.

3) Intent: Now the user is convinced that the product or service is exactly what he/she needs.

4) Evaluation: In this stage the user decides whether to visit your website or not.

5) Conversion: This is the final stage when a user actually buys your product or service.

The shopping funnel is a funnel that is used to track the process of a single customer on their way to purchasing something.

7. What are Conversion Rates by Device?

Google Analytics is a popular tool for tracking your website traffic, but what about the type of device people are using to browse your website? It’s common to see web owners wondering what device their visitors are on when they come to their website. Data from Google Analytics shows that mobile traffic is increasing. In fact, the mobile share of visits is up to 50% in some countries. Mobile traffic is different than desktop traffic, and this data can be valuable to understanding your website traffic.

When it comes to measuring analytics, one of the first questions that comes to mind is: which device/platform is driving the most conversions? The “conversion” question is a common one given the fact that different devices have different user experiences, which can translate into different conversion rates. For instance: A consumer who is on a mobile device may not have the time or patience to fill out a form that requires a lot of information. That consumer is more likely to convert on a mobile device if the form is short and easy to fill out. On the flip side, a consumer on a desktop computer is more likely to fill out a form that’s long and complicated if the consumer can see how their data will be used to create a better experience.

8. What are the Different Kinds of Engagement?

There are several kinds of engagements that you can track on your website. Here are a few of the most common ones: Immediate Engagement Immediate engagement is defined by Google as the duration of time that a user spends time on a website after the first visit. This is measured by the time between the first and second visit to a website. There are several different ways to determine immediate engagement. Some of these ways include:

Measurement is the first step on the road to learning, but it’s the first step only. To make the learning pay off, you have to analyze what you have measured and act on the results. That’s where the questions begin. How much will our sales increase if we reduce the price of our product? Which ad campaign brought us more new customers? Are we making more money from repeat customers than from new ones? How many people visited the site yesterday? What did they do while they were here? Where did they go? How did they get here? Where did they come from? What keywords did they use to find us? Is this a good time to send them an email? How long do they stay on the site? What pages do they look at? What did they search for? How can we make our site easier to use? How can we improve it? Which features do users like best? Where are the bottlenecks in our site? How can we use this information to improve our products, our sales, and our profits?

We’ve all been there. You run an analytics report and you’re staring at a bunch of data but you’re not quite sure what it means. You have a hunch that something might be off, but it’s not clear what. You’re not alone. That’s the beauty of analytics, even if you’re an expert, you’re going to run into a metric or report that leaves you scratching your head. There are dozens of metrics that you can track in Google Analytics, so it’s no surprise that you might be confused when you look at your reports. So, how do you know which analytics metrics are important and which are less important? Which metrics are telling you things you want to hear and which metrics should send up a red flag? To help you with that, we’ve compiled a list of the 12 most commonly asked questions in analytics and answered them to make your life a little easier. Keep in mind that this list is broad and if you have questions beyond what is listed here, please reach out to us.

9. What is a KPI?

KPI stands for key performance indicator. It is a metric that is used to determine how well the company or the company’s products are doing. KPI is used to measure the performance of the company or the company’s product. It is an essential part of any business. Every business needs to analyze the data collected based on the key performance indicators. The data is analyzed to find out the strengths and weaknesses of the company or the product being sold. It is also used to find out the areas where the company needs to improve.

Key performance indicators (or KPIs) are the “goals” or values that you want to measure to determine whether your business or organization is successful or not. KPIs are often used to measure the performance of a company, a department, or a project. The most common KPIs are: sales, conversion, traffic, time, money, and orders. KPIs are often used by organizations to measure the performance of an employee.

10. How to define KPIs?

Key Performance Indicator (KPI) is a term used to describe measurable results of a company’s business processes, based on a set of objectives.?KPIs are used for measuring the success of a company’s specific actions, such as the number of leads, sales, revenue, and return on investment.?A KPI is the primary performance indicator for a specific goal. For example, if you’re a marketing manager, then the number of leads your website generates is your KPI. If you’re a sales manager, then the number of sales made by your sales team is your KPI. A KPI is a standard measurement of business activity that tracks the progress of the primary objectives, such as sales and profitability. A KPI is a metric that shows the performance of a particular business activity.

11. Which KPIs are most Important to a Business?

Every business needs to collect and analyze data to understand how to get more customers, how to make more money, how to be more efficient, how to be more productive, etc. That data is collected through Key Performance Indicators (KPIs). If you’ve never heard the term before, a KPI is simply a metric that measures something in your business. A lot of people have asked me questions, and I’ve found out that a lot of people are unclear about some of these KPIs. A KPI is a measurement of performance, so it’s not something where you can say, “This KPI is more important than this other one.” You can’t rank them. It’s a way to measure success, and without them, you don’t know if you’re doing a good job or not.

The most important metrics, KPIs and metrics are often a hotly debated topic. There are a lot of them — and they are different for every industry. We often get asked questions from all kinds of people, businesses and organisations about analytics and metrics. We wanted to share all of the common questions we get, and the answers to them. Hopefully this article will help you to become an expert in knowing what metrics are really important to your business.

12. Which KPIs should a Business have?

In analytics, information is power, but there are so many metrics that it’s hard to keep track of them all. From traffic to conversion rates, there are plenty of metrics to be aware of. And then there are the dozens more behind-the-scenes numbers that can help you understand your customers better. But if you’re a business that’s looking to grow, you don’t have time to pore over every single data point. For example, you might not know exactly how to use your website’s bounce rate or what a funnel is, but you probably have a pretty good idea of what you need to know about your business. And that’s where your business goals come into play. Every business is different, so it’s smart to think about your business goals and understand them in order to build a strategy around them.

Conclusion

If you’re planning to start using analytics, the best way to do it is to start asking your questions and get the answers you need