Add Context to Web Analytics with Comparative Analysis
August 7, 2015
Analyzing your current data set by comparing it to a previous period or industry benchmarks can enable you to obtain constructive insights and establish meaningful correlations. It can also help you gain important insights as well as identify hidden trends which may be impacting the entire ecosystem around you.
When applied to your web analytics, comparative analysis can throw more light on conversions, device usage, and much more.
Here are three ways in which you can add context to your web traffic analysis:
1. Compare date ranges:
Overlay monthly, quarterly or annual data points with equivalent periods in the past to trace significant growth or decline in traffic, conversions and bounces alongside different parameters. For example, comparing device usage in the weeks leading up to your current and previous events may reveal if there is a consistent trend or significant change in the proportion of traffic coming from mobile devices.
2. Compare current websites:
If you are managing more than one website, then comparing web analytics for these properties could help you perceive how similar or different audiences interact with your content based on geographical locations, promotional emails or paid advertising. If you're consistently sending traffic from a main website to a sub site, you can analyze traffic flows, session length, etc. In Google Analytics you can link two websites with a unified tracking code to facilitate this. Details are available here: https://support.google.com/analytics/answer/1034342
3. Compare with Benchmarks:
Be it at a regional or global level, gauging your web traffic data by comparing with industry benchmarks can be an invaluable exercise. The exercise will reveal the areas in which your website is doing better and lagging behind when compared to your competition. Looking at benchmark data points can also help you understand your audience better. For example, if there's a particular month in which web traffic spikes across the industry then you may wish to time your promotional campaigns to make the most of either the active or the lean periods. Google Analytics now provides access to benchmark reports which can be filtered by verticals, channels, audience size and much more. View this page to learn how to enable this tool in your instance of Google Analytics: https://support.google.com/analytics/answer/6086666
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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