Shortly after its 10th ‘birthday’ Google Analytics has had a new announcement that some new features are being added. The new feature, which is called ‘Calculated Metrics’ will allow users to setup their own reports based on compilations of existing data and metrics.
The example given by Google was that a site could create a metric for ‘RPU’ or Revenue Per User by using their existing reports about revenue and user data. They could set up a currency conversation metric that takes all information that has already been collected (and is continuing to be collected) and determines how much money the average user is generating.
Google sent out a product update email about this new set of features. In the email they said, “We are excited to announce the addition of the highly anticipated Calculated Metrics in Google Analytics! Calculated Metrics are user-defined metrics that are computed from existing metrics. This can help drive more relevant analyses and enables greater actionability without leaving the product.”
If used properly, this type of data can help marketer in many different ways. First, it will allow them to become more informed about how much money is generated by each user that comes to their site. On top of that, however, you can create your own innovative ways of looking at the data you gather.
Google Analytics will continue to get ‘smarter’ by being able to use the collected data in ways that are determined by the users. This is a very powerful option that will undoubtedly continue to become more and more useful as people continue to figure out new and exciting ways to use it.
No matter what type of site you’re running, the new Google Calculated Metrics should be something you look into for the benefit of your business.
