Ultimate research to business analytics

The analytics marketplace is becoming an integral part of every sector including the financial sector. In the case of each product or service, there are multiple parties involved and hence the marketplace helps to unfold better supply-demand matches. They also help to improve communication and cooperation between the parties involved. 

The platform owner should have views on the metrics as there are problems that come up daily and can be fixed using analytics. 

 

Some technical metrics: 

1. Web Metrics:  

Tools available in the market which capture the usage of the website, visitor insights, and many more are Google Analytics, Adobe Analytics, etc. 

  

2. Application Metrics: 

Application metrics capture, collect, and several metrics of the functioning parts within an application. Example: ELK Stack, Prometheus. 

  

Non-technical metrics are: 

  

1. Business View and Performance: 

Monitoring if the system supporting the business is working properly or not, keeping a track of average response times, tail latencies, etc. 

  

2. Error/Bugs and Availability: 

One can find some errors at different levels of the system. Along with checking the errors, business analytics allows us to constantly check what is the availability status of different components. 

  

Steps to identify and come to an actionable metric: 

Step 1: Gather as much relevant data as possible. 

Step 2: Process the gathered data using machine learning algorithms. 

Step 3: To be visualized in pre-defined reports. 

Step 4: Act upon these metrics and insights 

  

Effectively estimating the entire research of the above metrics should give important bits of knowledge on data analytics - the most proficient method to make the correct choices for developing an efficient analytics marketplace. 

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