The latest version of Google Analytics called the Google Analytics 4 is now live and gives web masters finer insights, better integration with Google Ads, cross-device customer data analysis, and granular controls.
Here’s what you need to know about this futuristic web analytics platform.
What is Google Analytics 4?
If you recollect, not too long ago, Google has announced the App + Web for Google Analytics to unify the view of customer data. The new Analytics platform is a step beyond the Universal Analytics.
It aims at overcoming the barriers created by changes in consumer behavior and privacy-driven changes and the limitations of the existing analytics that fail to give a complete view of the customer and his journey.
The ultimate result is to have finer insights into customer journey and thus have better ROI from web properties and apps.
Machine Learning (ML) Models for Better Decision Making
The ML models enabled Analytics, alerts marketers about data trends such as a rise in demand for a product or service they sell. It even predicts the future actions the customers may take.
For instance, it can gauge the churn probability. This will help marketers invest intelligently at a time when the budgets are under strict supervision.
“We’re continuing to add new predictive metrics, like the potential revenue you could earn from a particular group of customers. This allows you to create audiences to reach higher value customers and run analyses to better understand why some customers are likely to spend more than others, so you can take action to improve your results.”
Integration with Other Google Applications and Platforms
The new analytics platform integrates with all Google marketing platforms.
Consider an instance where a user qualified to be in a certain audience list due to an action taken on the web but, was taken off a list because the purchase was completed within the app.
In such a situation, the list would then be automatically updated to remove the user to prevent retargeting him/her with ads.
Similarly, the new platform can measure app and web interactions together. It can include conversions from YouTube engaged views that occur in-app and on the web in the reports.
These conversions coupled with Google and non-Google paid channels, and organic channels like Google Search, social, and email will help marketers understand the overall impact of their marketing efforts and thus direct them to more remunerative channels.
A Better Overview of Customer Lifecycle
The reports in Analytics 4 are Customer Lifecycle-centric. What this essentially means is that the data is no more divided by device or by platform but by customers and the path they have undertaken.
This is made possible by unique Google signals from users who opted into ads personalization.
So, you can now have access to data like how a customer first discovered your business or did he first discover the app and make purchases or vice versa.
Finer Data Control
Analytics 4 includes options that allow advertisers to comply with data regulations such as GDPR and CCPA.
The platform allows you to better manage how you collect, retain and use your Analytics data. Finer controls for personalization of ads let you decide between data usage for ads optimization and for measurement.
And respecting users’ privacy, the platform offers the users control over sharing their activity with Google Analytics.
With Analytics 4, Google has introduced a more holistic cross-channel, customer-centric view of analysis. This coupled with predictive marketing features will allow marketers to use information more effectively and direct marketing efforts on properties and channels that matter.