Web Analytics refers to the study of behaviour of people on Internet to be able to make improvements on marketing websites. A website owner who wants to sell his products and service to his target audience must first and foremost understand their behaviour. This is the concept behind the long years of history of web analytics market.
What are the stages of web analytics market?
The web analytics market is said to be has been through two stages and is entering the third stage. These are the following:
1.The first stage is called the Rapid Market Growth. This stage occurred in the years 1995 to 2000. During this time, there are companies such as WebTrends and WebSideStory that were created to perform clickstream analysis. However, these two companies have different approaches. WebTrends used blogs to do the task and also offered software whereas the WebSideStory used browser tags and offered service solutions.
2. The second stage of the web analytics market occurred between the years 2001 and 2003. It is known as the Market Consolidation and Product Standardization stage. However, this is also the time when recession hit decreasing the web analytics market by 7% in 2001.
3. The new stage and the current stage of web analytics market is called Becoming Part of a Process Ecosystem stage. This stage started in 2004 and software-centric companies are taking the frontline.
Sales are said to be increasing and these are hinging around expertise, best practices and how good web analytics solution can be integrated with other systems.