Maximum online businesses, depends on Google analytics to understand their customers source, behavior etc. With the growing number of online businesses and increased competition, business owners are counting every penny now. The analysis from the tools is now more complicated.
To provide more simple and deep insights on ROI, Google has launched a new version of Google Analytics.If you are setting analytics now, you will find that the new default is Google Analytics4. This is especially built for (web+app) performances. From 14th October this update was installed in GA. This is quite different from Universal Analytics.
Old Universal Analytics can be upgraded to GA4. No data will be erased from the old analytics version. The new GA4 has machine learning at his core that provides clear insights on traffic sources from different channels and devices.
4 New Features of Google Analytics:
Smarter Insight to get better ROI
The new machine learning model is now able to display very important data trends. This new feature can identify which products are raising in demand by analyzing your websites data. This analysis helps the business owner a lot to be proactive, as they are having the prediction of future customer’s demand.
From the metrics like “Churn probability” you can get benefit to invest more on retaining customer. The dashboard is not complete yet. Google declared that they will add more important matrices over the time. Ex. The revenue from a group of customers. It will help you to differentiate the higher value customers from the others. As a result, it will help you to invest in the right target audience and it will increase the ROI automatically.
Deeper Add integration
This feature is sharper than the previous version to reach more relevant customer through ads. As it is now measuring data from the app too that means it is now capable of reporting the YouTube engagement form the both source web and app.
Not only YouTubes, you can check the conversion form Google search, social media, Google and non-Google paid channels. Already many big business owners found this new version very useful for their businesses.
More deep analysis of customer-centric data instead of the source by channel or device is now available on new GA4. It is designed to help the business owners by providing a complete detail about the interaction of customers with their business.
If a customer first shows your ad on web then buying your product by installing your mobile application instead of clicking the ad. The new analytics will show you the complete cycle from the acquisition to conversion.
As the users needs are changing continuously this analysis can help you to make real time decision and win the customer. Based on the feedbacks they have designed the dashboard.
You can discover which channel are sending new customers to your website from the acquisition report. Form the engagement & retention report you can find the behavior of the customer after converting.[adsense]
New approach for Data control
To manage and retain the data GA4 is now providing more sharp data controls. From this insight you can define the useful data that is used for optimizing advertisement or when to limit your data use.
The new analytics is built with or without cookies. They told that in the future they will introduce data modelling to fill up the gaps where the data is incomplete.
This new analytics version is now the default version for all. Google advised all marketers to create the new GA4 alongside their old analytics property.