Tech giant, Google, in a recent announcement said that industry benchmarking reports would not be made available to the users of Analytics, who have allowed anonymous data sharing. This comes as pleasant news for Analytics users since the trends which are riding the crest of popularity wave would now be at the disposal of site owners. This would make it legible to site owners as to where their site performance ranks in comparison to their peers.
Until now, the benchmarking reports are not accessible to all Analytics users. Several data like sessions & bounce rates, location, device, broken down by channel, etc would be provided by the benchmarking report. Google further elucidated that even heat maps would be available for tapping potential business opportunities through a visual representation. Analytics dashboard would present an ‘Audience’ category in the left sidebar, through which access to data would be facilitated for users.
In order to provide precise comparisons, the data would be available for comparison under as many as 1600 industry categories, 7 size buckets as well as 1250 markets. Therefore, on a whole, with the aid of Google Analytics benchmarking, the businesses using it would be able to distinguish between what is working, what has scope for improvement and where the scope of this improvement is. Expert analysts point out that there are 3 basic benefits which Google Analytics benchmarking brings at the disposal of businesses.
Benefits to businesses:
- The first benefit is that the detailed analysis would highlight the areas where one falls behind the industry threshold and hence, justified investment of time and efforts is ensured. Thus, the resources are not spent on overdoing something and are rather utilized for areas deserving enhancement which were, until now in the absence of Analytics benchmarking, getting missed.
- The second benefit is that one gets to understand what to expect since industry parameters along with industry averages are available; thus projection of realistic and achievable goals becomes more accurate and practical rather than being vague and based on theories.
- The third benefit is the opportunity of early understanding where one holds an edge over the market competition and hence one can work over keeping this lead over the peers intact and unchallenged.
Thus, these benefits from the presence of Google Analytics benchmarking would help to keep your business endeavor on its toes wherein you lag behind industry average and would help to augment your forte as against your competitors.