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Facebook has been focusing on analytics for some time now and its recent conference on analytics is testimony to that effort. The recent additions of some features only indicate that Facebook is really looking forward to add features that bolster its analytical prowess as well as its data mining abilities. It is important to take a glance at the changes made recently.
Changes introduced to empower analytics
The recent introduction of page interactions in form of reactions and shares is a step towards improving content and it has been extended to analytics of all channels that includes applications, websites, bots as well as services. They also launched a beta version of the automation of the insights that took into account advanced technologies like AI and machine learning. They are also opening up to business and agencies by giving custom dashboards so that agencies can use Facebook itself as an analytical problem.
Moreover, you can now use this dashboard to procure source groups for events and also, customize target audiences by tracking user behaviour across various channels. In fact, user properties are now better controlled too, however, this dashboard is still in its beta state. Hence, Facebook is trying to see how users, businesses and brands use the social media and gain insight from them to improve the new features.
What do they reflect?
Opening up all channels to explore analytics allows Facebook to ensure that the pages now see what their audience is enjoying or disliking along with their page content. So, they can align audience in that manner to ensure that your page has more intimate and better interaction with the users. So, if certain people don’t like an item displayed by a brand, then you can trace back to the causes beyond comments by following their inclinations, their behavioural traits as well as their probability to use the brand in future.
This is surely unprecedented insight into customer interaction and that too is happening through social media. You can also track how much online browsing is being converted into purchases as well, and categorize buyers according to the items bought against items browsed. That allows you to offer the customer specific products that the customer has a higher probability of buying when pursued.
Crunching time, segregating users
AI and machine learning have come to the ultimate aid of Facebook as you need not look for clues around the web regarding use behaviour. You can now see how purchases change with the change in product versions and you can gain further insights regarding the changes in traffic when you change your app or vary your app’s appearance. By linking reactions, comments with the responses to change, Facebook will tell you whether your recent update was a hit or miss.
Likewise, you can decide on a course of action and bring changes accordingly in the next updates. You can also customize your dashboards and decide what you want to see and what you want to do with the data. In fact, how many people are accessing the app and how many people are using the simple site can also be tracked using this dashboard.
You can also gain insights about an individual to make better suggestions to these people. You can know if the person is a frequent flyer or not, if the person has a specific habit or if the person likes to do some specific activities. All these information can then be transferred to your apps from Facebook and used further to impact the business. So, business analytics gets a new social media boost thanks to Facebook and its latest update.