Web and Market Analytics

This set of flashcards covers key terms and concepts related to web and market analytics, including definitions and relevant metrics necessary for understanding the field.

Descriptive Research

Research focusing on what is currently happening.

Bounce Rate

Percentage of visits without any click.

Conversion Rate

The ratio of visits that result in purchases.

Customer Service Analytics

Metrics used to evaluate the efficiency and effectiveness of customer service.

Awareness in Marketing

The stage where potential customers first learn about a brand or product.

Positioning

Ensuring that a product or service is distinguished from competitors.

Perceptual Map

A visual representation of how consumers perceive brands or products relative to each other.

Lift

The ratio of the actual co-occurrence of events compared to the expected occurrence if the events were independent.

Big Data

Large and complex data sets that traditional data processing software cannot deal with.

A/B Test

An experiment comparing two versions of a web page or ad to determine which performs better.

Causal Relationships

The relationship showing that one event causes another to happen.

Matching in Analytics

Creating pairs of observations that are the same except for the variable being studied.

Retention Rate

Percentage of visitors who return to the site after their initial visit.