Definition - What does Cross-Channel Analytics mean?
Cross-channel analytics is a business analytics process wherein multiple sets of data from different channels or sources are linked or housed together and then analyzed in order to provide customer and marketing intelligence that the business can use. This can provide insights into which paths the customer takes to conversion or to actually buy the product or avail of the service. This then allows for proper and informed decision making to be made.
Techopedia explains Cross-Channel Analytics
Cross-channel analytics seeks to understand which paths or channels combine to drive customer conversion. This includes understanding what paths are popular within and across channels and finally provide detailed analysis of specific visitor paths. In the online business community, analysts find the paths or links that customers traverse before they get to the final purchase. By finding this path, marketers can concentrate advertisement and marketing along that path or create other avenues just like it. And by analyzing customer behaviors, analysts can understand the impact of each channel and how they work together.
Benefits of cross-channel analytics:
- Latency or time impact - The true latency pattern of customers who converted can be measured by analyzing the consumer-level data across the conversion path.
- Measuring referrals - High- and low-value placements can be identified by analyzing URL referrals across online channels.
- Funnel analysis - Analysts can determine which channel combinations can result in the highest results and also gain insights into which paths lead to conversion.