What is Behavioural Analytics?
Behavioural analytics is the process in which the data tells you how the customers of a business behave on eCommerce, online games, web, mobile applications and IoT. It reveals actions that users take within a digital product. It is used to determine what users like and don't like and what adjustments can be made to make the product more valuable.
Why is Behavioural Analytics important?
Behavioural analytics is important for teams to explore detailed demographic data and so-called vanity metrics. They provide answers to questions like Where do users get stuck? How long users take from the first click to conversion? Which are the most effective ads? etc,
Who performs and analyses Behaviour? Who performs Behavioural analytics in an organization?
Behavioural analytics are mainly used by Marketers to optimize customer acquisition, Increase CLV and maximize retention. By product managers to proactively isolate user behaviour, reduce churn, understand the customer journey and to know product implementations by real-time user engagement. By Data analysts to break down data silos and analyze the customer journey, empower the organization to take data-driven decisions.
How is Behavioural analytics done?
Behavioural analytics is based on hard and raw BigData. It uses these huge volumes of data from different sources such as social media, gaming apps, marketing, websites or apps which is collected and analyzed based on AI and ML algorithms to determine critical business decisions in future including real-time trends, business activities and ad placements.