It is a prerequisite for businesses to keep track of, monitor, and improve their performance constantly. The success of a company is directly related to customer satisfaction. Therefore, collecting relevant data and utilizing it to strategize and execute a smooth customer experience is imperative. Businesses use different analytic tools to assist and ease the whole process of customer lifecycle management.
Today we’ll discuss the updated version of the most accomplished of these data analysis tools – Google Analytics 4.
A Glimpse at Google Analytics 4
It’s no secret that Universal analytics is still the most widely used analytics tool in the world. It was developed and introduced in 2012. Around 85% of websites use Google Analytics to analyze data and manage performance.
On 10th December 2020, Google introduced a new integrated app and website version of Google Analytics – Google Analytics 4.
It delivers in-depth insights to help businesses analyse and improve their marketing strategies.
The significant improvement in Google Analytics 4 is its efficient and advanced use of AI and Machine Learning (ML). Regardless of cookie consent, the primary attribute of GA4 is to gather customers’ detailed information.
This feature helps Google Analytics 4 in delivering real-time data and effective predictive analytics to its users. In simple terms, GA4 has the matured machine learning capability to better understand customer behavior and journey.
Now let’s compare Universal GA and GA4, and see which is more suitable for your business.
Google Analytics 4 vs. Universal Analytics Properties
In this section, we’ll go over the basic differences and similarities between the old Universal Analytics and new Google Analytics 4 property.
1. Real-Time Tracking
Both Universal GA and Google Analytics 4 provide a “Real-Time” option. But GA4 is a much more advanced version that shows a complete comparison of real-time users demographically and geographically. It also indicates device filtration so businesses can have a clear idea about where their users come from. In the example below, you can see there are more mobile users than desktop users. Therefore, in this case social media and mobile app marketing would probably yield better results for the company.
Google offers so much more than just analytics. Check out this guide on how to integrate DV 360 and Campaign Manager 360 to improve ROI.
2. Data Streams
GA4 provides data streams which indicate the enhanced measurement for;
- Page Views
You can monitor and collect all this data from a single GA4 platform that saves time and effort as compared to Universal analytics. In Universal Analytics, this data is gathered with custom coding and by leveraging Google Analytics Tag Manager.
3. Machine Learning
Google Analytics 4 users can adjust their marketing strategies by integrating new ML forecasts like Average Revenue Per User (ARPU). Google Analytics uses machine learning to :
- Generate Google Ads forecast based on that probability of conversions
- Detect anomalies in reports
- Present customer outflow prediction to effectively invest in retaining customers
4. Customer Journey Oriented
Google Analytics 4 is focused on optimizing customer journeys. A separate option for Life Cycle is available to track information from customer acquisition channels to retention.
Businesses can smartly improve their BI by collecting the elaborated information about how customers are attracted to their websites. Also the comprehensive overview about the channels that generates more traffic helps in planning marketing campaigns.
Such data can allow businesses to effectively plan their marketing campaigns based on user behavior. For example,if businesses are getting more traffic through mobile app marketing then they can increase spend mobile advertising. In this way they can reach specific demographic audiences like Millennials or Gen Z.
Essentially, this step helps companies reduce their campaign cost and increase ROI. By incorporating GA 4, businesses can also indicate which content is attracting and engaging their customers.
Insights about what content customers find engaging and interactive are also available on GA 4. This helps marketers come up with similar but creative content to attract relevant audiences.
Other attributions like monetization and customer retention information are readily available as well. Monetization shows in-app purchases for application-oriented businesses.
New addition of the “ Retention” option filters the audience that is returning to your website and becoming potential customers. This data is utilized to retarget and nurture leads to complete the conversion process through machine learning.
5. User Information
Google Analytics 4 has advanced machine learning capabilities that alert the users when their routine activity is compromised. This property is not available in Universal Analytics, making GA4 a more sophisticated tool. The data collected is from both desktop and mobile devices at the same time and is easily shareable.
As a result, businesses do not have to use other plugins and tools to collect user information.
Still using Universal Analytics? Here’s how to set up your Google Analytics 4 property.
GA4 is one of the most efficient versions of analyzing cross-platform data in detail. Everything in Google Analytics 4 is event-oriented rather than a session.
Google Analytics 4 is still in the development stage, and new upgraded features are still rolling out gradually. For example, businesses can shift from Google Analytics through GTM or gtag.js to configure GA4 resources. But, previous data is not migrated instantly when business shifts from GA to GA4. Developers may launch this feature in the future, but a parallel use of both versions is recommended to help businesses collect historical data.
Google Analytics 4 is revolutionizing the entire concept of customer experience. But if you have a small business and fewer resources, it is better to keep using Universal Analytics.
For in-depth customer information and vast businesses’ data collection, Google Analytics 4 is the ideal tool.
All the predictions about likely product purchases, opened emails, clicked ads, interests, and churn rates are now possible with GA4. So it’s no wonder why businesses are scrambling to switch to Google Analytics 4 backed with Machine Learning and Business Intelligence capabilities.
Get Started with Lucrative.ai Predictive Analytics
Google Analytics 4 is the gateway to immense predictive analytics capabilities that can be honed further with Lucrative.ai. Get started with business intelligence and data visualization that will unlock new insights for your business. Book a call with our team today or contact us below to start your 2-day free trial.