Data rules and the analysis that we derive out of various types of data renders a sense of solid security and commitment to business growth. In the current scenario where every action and decision has to be backed by proof of concept with regard to business strategy and business intelligence, companies are understanding the real worth of relying on business analytics training tools. Business analytics training provides ample resources to business analytics teams to stay prepared for any difficult circumstance, such as a pandemic-forced lockdown or a political sanction.
In this article, I have briefly explained the most popular analytics concepts that you should learn and practice in your analytics training course.
Cohort Analysis is a very powerful concept used in the web analytics domain, especially by e-commerce and in-store product experience management companies. The cohort is an extension of the customer segmentation approach that helps the business analytics team to create a subset of consumers based on specific behavioral patterns. The data is mostly extracted from various online platforms, such as web, search, social media, email, and call.
One of the best examples of how analytics teams use cohort segmentation for their decision-making is seen in the field of Amazon Advertising and Google Advertising. Both companies collect tons and tons of user data in various ways to segment customers based on their buying patterns, their interaction with the product pages, and their reviews. Advertisers then use retargeting strategies backed by cohort analysis to build a powerful marketing campaign spanning across Search, Social media, and the Web.
Top analytics training courses extensively cover the area of cohorts and prepare analysts to measure user engagement using AI, ML, and Big Data analysis concepts.
A/B Testing Analysis
I have been with the web development and marketing industry for the last 5 years, and have seen how optimization of online content and placement of images, videos, and landing pages impact web navigation behavior. If you see the UI UX of a popular social media platform like Twitter and Facebook, you will realize that they look very different today than what they used to look like 2 years or 5 years, or 10 years ago! So, how did this happen? The foundation lies in understanding A/ B Testing analytics.
Simply put, the behaviors are different for different websites and web pages, for that matter. The specialized field of testing how two different versions of the same webpage perform and engage users is the basis of why A/B testing analysis is so important for e-commerce sites and social media platforms.
Sentiment Analysis / Social Media Listening Analytics
Sentiment analysis also called Opinion or Emotion mining, has changed the way video marketing and publishing companies use Big Data to improve their marketing intelligence. If you are pursuing a Machine learning project with the help of NLP and Text, practicing with Sentiment analytics tools is the best way to move forward.
Start with these concepts to succeed!