The Web analytics market has undergone a rapid boom that’s expected to continue over the next few years. However, businesses aren’t as prepared for this boom as they could be.
That’s because expertise is needed to turn the complex and enormous amount of data companies receive from various sources into actionable insights that ultimately generate profits. This “data” is coming from many different channels, for example, the Internet, social media, mobile devices and email, and the information is leading to more effective decisions.
In this period of economic turbulence marketing teams and chief marketing officers have to show that their strategies are paying off, that they’re bringing in revenue for their organization.
Over the past five years some brands have poured more money into their Web analytics budgets for outsourced analysis and in-house analysts and other related staff. However, a shortage of qualified experts exists as the recent “World Web Analytics Market” report published by Information Technology pointed out.
Businesses are in need of experts who can not only design the right kinds of data generation, but they also need to know how to report it and come up with actionable strategies for the site success. The skills sought after for these positions include knowledge of Web technology, statistics, marketing and brand building, and they must be detailed-oriented and able to develop a communications strategy. These experts know the value of Web analytics is based on their ability to collect, read, interpret and integrate the complex information into performance improvement and long-term strategies.
The report indicates this shortage of expertise won’t last too long, but in the meantime it appears to delay the impact of Web analytics integration.
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