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Business term of the day - Term for July 21, 2013: "Behavioral Analytics"

Keywords: behavioral analytics
Behavioral Analytics is a subset of business analytics that focuses on how and why users of eCommerce platforms, online games, & web applications behave. While business analytics has a more broad focus on the who, what, where and when of business intelligence, behavioral analytics narrows that scope, allowing one to take seemingly unrelated data points in order to extrapolate, predict and determine errors and future trends. It takes a more holistic and human view of data, connecting individual data points to tell us not only what is happening, but also how and why it is happening.
Behavioral analytics utilizes user data captured while the web application, game, or website is in use by analytic platforms like Google Analytics. Platform traffic data like navigation paths, clicks, social media interactions, purchasing decisions and marketing responsiveness is all recorded. Also, other more specific advertising metrics like click-to-conversion time, and comparisons between other metrics like the monetary value of an order and the amount of time spent on the site. These data points are then compiled and analyzed, whether by looking and the timeline progression from when a user first entered the platform until a sale was made, or what other products a user bought or looked at before this purchase. Behavioral analysis allows future actions and trends to be predicted based on all the data collected.