Google Analytics Boosts Benchmarking With 20 New Metrics
Google Analytics is enhancing its Benchmarking feature, now offering 20 new unnormalized metrics. This update allows businesses to compare their raw performance data with competitors, providing a more realistic view of their industry's landscape.
Until now, benchmarking was limited to normalized data like percentages and ratios. However, Google Analytics is expanding its scope to include absolute numbers such as New Users and Total Revenue. This broader benchmarking enables businesses to identify their strengths and weaknesses more accurately and take targeted actions.
Benchmarks are presented in percentiles (25th, median, 75th), showing performance ranges. Peer groups are determined by industry categories based on setup data and property signals. The new metrics are particularly useful for industries focused on customer targeting, cost reduction strategies, and fraud detection, prominent in life sciences and commercial analytics markets.
With this update, Google Analytics offers a more comprehensive way for marketers to compare their performance with competitors. By using absolute numbers and percentiles, businesses can gain a deeper understanding of their industry's dynamics and make data-driven decisions to improve their performance.
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