Companies operating in the BFSI sector can leverage from clickstream analytics to gain greater visibility into the customer buying journey and optimize their customer acquisition and loyalty campaigns including improvement in conversion rates, personalizing campaigns to increase revenue, predicting and avoiding customer churn, and lowering customer acquisition costs. For example, a financial services company can use clickstream analytics to understand the client behavior such as identify and track the clients who might be considering moving their funds. Company can leverage from integrating data from various sources including client’s online activities such as browsing on the company site for forms and others such as request for information with an outside financial consultant on the line; a change in address, workplace, or power of attorney. The integrated data could be used to develop activity path for individual users. With a detailed path analysis for each client, a company can track clients’ specific activities and determine whether these activities would lead to a transfer or withdrawal. Correlating this data enables the company to determine the statistical relevance of each activity, or combination of activities that predicted customer churn. Further, a financial company such as Credit Card Company or banks can use clickstream analytics to track and analyze customer purchase history, their activities on social media to identify their interests. By correlating this data with the customer profile, these organizations could offer individualized financial products or services relevant for the customers.
Frequently Asked Questions
What is the impact of Clickstream Analytics Market on the analytics domain as a whole?Clickstrem Analytics provides holistic view of customer's online journey. It is the only analytics which loads all the valuable customer information left by users as they click their way through a website. Clickstream Analytics is considered as the superior visualization technique and advanced analytics.
Which industries are widely using Clickstream Analytics?Clickstream is widely used by BFSI, Travel and Hospitality, Government, Telecommunications and IT, Retail and E-Commerce, Media and Entertainment, Transportation and Logistics industries.
What is the expected CAGR of Clickstream Analytics Market?Clickstream analytics market is expected to register a CAGR of 14.7% during the forecast period 2019 - 2024. As the population is inclining towards e-commerce and digital revolution is underway, companies are adopting clickstream analytics solutions to track customer's online journey and provide customized offering.
What are other applications of Clickstream Analytics?Clickstream Market applications are click path optimization, website optimization, basket analysis and personalization and traffic analysis.
Open Text Cloud deliver enterprise information management (EIM) solutions in the cloud to create the Information Advantage. It gives full control of its cloud services, features, capabilities and certifications. Its cloud operations are SOC and ISO compliant and capable of supporting GDPR and other regional and industry-specific compliance policies and legislation.
IRI has developed various analytical solutions for businesses and marketing associations, including clickstream analytics. They have focused on clickstream data warehousing (CDW) which can be used for pattern analysis, customer segmentation and website traffic reports. Useful information helps enhance your website, content and banner ads as it aims at better customer satisfaction. Such analysis depends on your file sizes, and the main challenge is data reduction, integration and manipulation to get accurate results.
Quantcast is the software any ethical enterprise should incorporate. While it will offer the data and thorough analysis, it focuses on the vital aspect of clickstream analytics: Knowing your customer. In other words, it enables enterprises to have a personal approach to their customer by reading their demographics and understanding their actions. As the primary focus on providing data relevant to learning about customers, it assists businesses in making ideal marketing strategies.
Comscore is one of the most trusted data measurement tools available in the digital platform. It offers a clickstream analytics software that performs a thorough analysis of every stream and connects the dots. With proper planning, transaction, and evaluation, you will also receive helpful insights. It is a complete package for anyone seeking to maintain a sustaining state on the digital media. In short, it offers data regarding what truly matters for the customers. Thus, the company can plan accordingly.
HubSpot Sales is one of the best clickstream analytics software to boost the growth of your business. It enables an enterprise to keep track of the visitors on their platform, from known customers to unknown guests. The platform offers data regarding the most visited services and the performance of the overall website. HubSpot Sales provides detailed information regarding all the marketing assets of the enterprise like E-mails, Social Media, website, and calls
Happiest Minds Technologies introduce Click Astra as their clickstream analytics software. It is efficient in data preparation. An enterprise will find information from the customer’s Behaviour, what they buy, where they click, and how much time they spend. While most of the platforms only offer real-time or ‘recent’ activity tracks, Click Astra also analyzes their history actions and predicts their patterns more precisely. Hence, if you’re seeking cost-efficient analytics platform, Happiest Minds is a perfect choice.
Striim has developed various solutions for on-premise and cloud-based enterprises. They have worked constructively on developing innovative products to move data continuously and manage them in real-time. Thereby, they also have a strong analytics team which has worked extensively in clickstream analysis. Striim ensures excellent speed and perfect results on a patented platform which has been marked to be enterprise-grade. It effectively delivers accurate data as per your requirements and adapts it in the right format for smooth operations.
Opentracker works by expanding its analytics to the complete spectrum of digital platforms. It tracks all the relevant information on the digital world related to the enterprise. The performance of Opentracker is rapid, with real-time responses while it offers flexible set-up options. It also has world-class customer support for a seamless experience. With Opentracker, one can keep track of all clickstream activities like logins, clicks, forms and download information. A complete analytics software.
Syntasa has worked extensively being an AI platform to develop solutions for various marketers, data scientists and data engineers. They have developed systems to decode clickstream data and thereby disclose the full potential of your enterprise. They have three key modules, namely the Synthesizer, Composer and Orchestrator. They help in applying AI models to develop into intelligent experiences which can enhance the relationship with customers and more. These modules have their actions to work on data and activate their best potential.