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Finally, almost every company has caught on to the web. In fact a recent Forrester report claims that as many as 54 percent of companies with average revenues of $500,000 plan to spend a major portion of their online marketing dollars on Web analytics this year. These companies although they know that Web analytics can have a profound and positive effect on their business, are unsure of exactly what aspect of Web analytics to spend their money on. There are usually two ways to go about getting Web analytics to work for you. By using a Web analytics consultant and have them plan and implement the Web analytics strategy or the most common way, which is to purchase the tools and hardware, load them and read the endless data available. For most companies going with a consultant is safer than implementing the solution on one's own, for once the solution has been installed the user is so overwhelmed with the data available they are clueless as to where to begin or what to do next.
If you want to do this on your own the place to start is in understanding the marketplace and what each Web analytic software has to offer and what it does exactly. Be sure to ask each vendor or consultant these questions. What exactly does each software do? How is their functionality different from others? Which solution is right for your company's needs?
There are big players in this space of Web Analytics though they are not necessarily the best for your organization. They tend to be very sophisticated and are best analyzed by experts. They include WebTrends and WebSideStory. There are also smaller players in this space like Urchin and Sane software that are making a dent in this industry. Nevertheless be sure to understand what each will do for you before you make the decision to purchase. Also keep in mind that you no longer have to purchase Web analytics software outright. There are subscription models available which gives you the ability to have online access to do the same analysis for less out of pocket expenses.
Be sure to integrate if you can your existing systems such as your CRM this will give you the opportunity to combine the analytics data with other informational sources within your organization to see an overall bigger picture.
Don't get caught up in the hardware and tools craze and forget the most important aspect of Web analytic software – ACT on the DATA! The whole objective is to use the data to identify trends and issues on your web site and use that information to improve your site's performance and eliminate pages and content not working for your business. Analyzing the data regularly will help you get a faster return on your investment and assist you with using your site to maximize revenue.
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