What are Behavioral Analytics?
Behavioral analytics is a type of data analytics that seeks to understand how people act and why. Behavioral analytics measures how consumers engage with digital applications (ecommerce, mobile, social media, gaming, IoT). Data, such as demographics or historical activity, is collect in order to draw insights and predict future trends. Behavioral analytic principles apply not just to the behavior of people, but can also apply to the interactions and dynamics between processes, machines, equipment, and even macroeconomic trends.
How do behavioral analytics work?
Behavioral analytics merge typical event tracking with audience segmentation to associate users with triggered events and provide a map of their customer journey, utilizing the massive amount of raw data collected by the analytics platform.
Why are behavioral analytics important?
Behavioral Analytics are an important subset of business analytics that help us understand how consumers and applications behave – and why. They’re particularly prevalent in the realms of eCommerce, online gaming, web, mobile and IoT applications – and provide essential data for improving the customer journey toward conversion.
What are some examples of behavioral analytics?
Behavioral analytics measure data such as navigation paths, clickstreams, social media interactions, and purchases/shopping cart abandonment. A/B testing is an example of using analytics to make data-driven decisions.