Analytics
Large retail shopping chains have spent millions over the years researching how and why their customers shop so they can sell them more.Google analytics has changed all that and now, for free, you can ensure that your online business mirrors the needs of the needs of your website's viewers, and make it a perfect match. Location, location, location: Put your product in front of the people looking for it, when they're looking for it.
Business analytics
Taking a wider view of your business market and how your competitors perform in it will help you determine which areas you need to focus on and improve, which areas to avoid and more importantly niche markets where you will have little or no competition. Taking a deeper view into your sales activities will help ensure you have good stock levels for popular products and help you reduce overstock. Good business analytics will also help you make sensible decisions when you are offered cheap bulk purchases and special offers by your suppliers.
Social media analytics
It’s not that unusual to overhear a conversation which makes you think, and gives you a good idea. You will take more notice of some people, and you might even bounce business ideas off friends and family. Social media analytics looks at the current topics and discussions in your market so that you can update your website and attract new clients relevant to the topic. If everyone is talking about Blue Elephants why would you keep Grey ones in stock? Instead you should become the Blue Elephant expert...