For enterprise businesses—especially those with a significant user base and thousands of data points to consider—real-time dashboards have the ability to amplify your marketing efforts. New digital marketing dashboards have evolved to the point that content managers and marketers can tap into site performance and get up-to-the-minute (or even up-to-the-second) data that is meaningful to help drive ROI.
Dashboards are no longer hit or miss, generic, one-size-fits-all data visualizations.
Instead, they offer highly relevant and specific data points (like real-time revenue, purchases, user engagement, and trending content) that provide the specific insights needed to optimize your business in real time. These advanced real-time reporting capabilities, along with upgrades in data visualization and predictive analytics, were a few of the highlights of our fall Adobe Analytics release.
So how does it work? How can a real-time dashboard boost your marketing efforts to maximize revenue and engagement?
Here’s a quick example: Publishers these days need to quickly understand how content is performing so the relevant and highest performing content is displayed in the ideal places. To maximize ad impressions, trending content needs to be displayed prominently on the homepage, whereas stories and videos that are dropping in engagement don’t. With a real-time dashboard, publishers can gauge key data points every few seconds and determine which content is the most valuable and optimize their homepages accordingly. We have seen publishers who watch the trends over 5-minute periods and make adjustments to their homepages every 15 minutes, giving them a 20% or better uplift in engagement.
For retailers, it’s a similar story. Real-time dashboards give a quick visualization of business metrics like product performance, average order value, product performance, and conversion. It’s all there—the critical data you need. Fast.
The Insights Real-Time Data Offers
The real-time dashboard puts a wealth of relevant data at the publishers or retailers’ fingertips: top pages, trending content, top products, real-time revenue, etc. Real-time dashboards are customizable too, so marketers can choose the data points they need to adapt content or product strategy on the fly to drive action and maximize revenue.
In addition, lots of our customers also leverage their real-time API to build attractive dashboards to display their wealth of insights on big screen televisions hanging from the walls in their business. We’ve started a scrapbook. In the future, we will take a deeper look into how our customers are using real-time dashboards to optimize content and drive action.
In the retail space, streaming data can offer a snapshot of sales and customer action. For instance, retailers run daily deals all the time, and real-time dashboards enable marketers to maximize the impact of these promotions. How many people click the ad, what is the conversion rate of these people, and what is the revenue being generating? It’s all there on the dashboard.
For content managers, a real-time dash certainly provides a look at emerging trends and user engagement, which allows for homepage optimization. Content managers can use this real-time data analytics to take advantage of these trends by placing the most engaging content most prominently on the homepage. I can see our customers having a lot of fun with this in their war rooms on Black Friday and Cyber Monday!
Although real-time data provides key insights to micro trends, historical data shows larger trends over time. Getting too focused on the last 15 minutes could create problems over the long haul.
What the Real-Time Dashboard Won’t Reveal?
Real-time dashboards allow companies to monitor key business metrics efficiently and respond to immediate challenges, but it’s only one piece of the analytics puzzle.
Real-time data encourages marketers and content managers to respond to real-time issues. Both content trends and user engagement can be maximized using data from the real-time dashboard, but to gauge long-term business trends, you also need to also collect historical data.
Really, the real-time dash is all about collecting and presenting relevant data to respond to developing challenges and capitalize on trends. And in today’s ever-connected digital landscape, with hundreds or even thousands of useful data points being generated every minute, a real-time dashboard that lets businesses visualize the data and maximize impact is an extremely powerful tool.