Behavioral analytics utilizes a combination of big data analytics and artificial intelligence on user behavioral data to identify patterns, trends, anomalies, and other useful insights to enable appropriate actions. Behavioral analytics is used in many industries and applications including ecommerce, healthcare, banking, insurance, and cybersecurity. [2]

Figure 1. Behavioral analytics and it’s important

Figure 1 shows behavioral analytics is based on hard data. It uses the volumes of raw data people use while they're on social media, in gaming applications, marketing, retail sites, or applications. This data is collected and analyzed, and then used as the basis of making certain decisions, including how to determine future trends or business activity, including ad placement. [3]

Behavioral Analytics Important:

the purpose of behavioral analytics is to make sure that your digital product meets user needs. This means that it is important to know what the users want and need from your product and how they are using it. Behavioral analytics monitors users’ actions, such as:

• What website they visit
• How long they spent on the site
• If they clicked on anything or not

Additionally, it can also help you monitor how many times a user performs an action with your product, such as how many times a user purchased an item or how many times a user shared your content on Facebook.

To sum up, behavioral analytics is vital for product growth since it provides information about how often users perform an action and whether that action was successful or not. If a specific action was successful more than once, then you can conclude that the task probably works properly. [1]

The data science behind behavioral analytics

Behavior analytics is a broad application of data science, machine learning, and AI techniques. Scott Toborg, head of data science and analytics products at Teradata, explains the underlying data science. “Behavioral analytics leverages customer data about who they are (demographics), what they are doing (events), and who they interact with (connections) to derive better insights, predictions, and actions. The process consists of segmentation, predictive modeling, and prescriptive action.” [4]

References:

1. https://userguiding.com/blog/behavioral-analytics/
2. https://www.microfocus.com/en-us/what-is/behavioral-analytics
3. https://www.investopedia.com/terms/b/behavioral-analytics.asp
4. https://www.infoworld.com/article/3663433/what-is-behavioral-analytics-and-when-is-it-important.html

Cite this article:

Thanusri swetha J (2022), Behavioral analytics and it’s important, Anatechmaz, pp.50