Online companies are failing to invest enough of their budget in web data analytics, stunting their potential to increase sales by not getting the right people on the job, according to a report.
The annual Online Measurement & Strategy Report by Econsultancy and Lynchpin shows that only 52% of web analytics expenditure is spent on internal staff.
This figure represents no change from the 2011 study, despite 40% of companies in 2011 stating intentions to increase their budget.
The research – based on a survey of 700 digital marketers and web analysts – also found that 23% of companies believe their web analytics “definitely” drives actionable recommendations that make a difference, while 59% believe less than half of the data they collect is useful.
More worryingly, the figures showed in over a third of organisations web analytics is “not integrated at all” into their business intelligence strategy, with 14% having “no business intelligence strategy”.
Lynchpin managing director Andrew Hood said: “Resourcing is clearly an issue, with businesses struggling to recruit experienced analysts. However, there is often little clarity around exactly what the ‘web analyst’ skillset should be, with the boundaries between technical, analytical and commercial often loosely defined.
“Getting the basics right looks to be a key (and respectable) focus, with persistent buzzwords of late like ‘attribution’ actually showing little practical adoption. This again hints at process being key to getting actionable recommendations in front of the key decision-makers, rather than more complex data models.”
