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Reporting and Analytics

Analytics in the Metaverse: What You Should Know

November 17, 2022 | by Flip Dunn-Davies
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The metaverse is so new, that it’s difficult to predict what data and analytics will look like. Here’s what we know.

We are at an exciting time for internet technologies with the advent of augmented reality (AR) and virtual reality (VR) along with the rise of whole worlds to pass your time in, such as Roblox and Fortnite. Collectively, these worlds are called the metaverse, and immersive technologies such as AR and VR promise to make the metaverse more immersive. 

While everyone is naturally excited for these new technologies and the experiences they can produce, how will organisations and brands measure success and performance when there are no pages to view or buttons to click? When the metaverse is fully here? 

Fortunately, we are just the start of this new era of the internet, the perfect time to start thinking about and defining how we can measure success in this new age of the web. With Bloomberg predicting that the metaverse will capture an eye-watering $800 billion market share by 2024 it’s definitely something organisations will need to think about.  

In the metaverse, behavioural tracking approaches such as eye focus, hand movements and third position will become ever more important as these technologies are taken up. Put another way, data and analytics teams will have to rethink their current data infrastructure while finding ways to measure effectiveness using data from new sources like haptic technology. 

Source: aixr.

On an immersive platform, it’s important to focus on tracking users within a 3D space. It's not just one device or platform either; users are using multiple devices on multiple platforms, so it becomes even more important to understand the multichannel perspective and have the complete holistic picture of how users engage with your organisation or brand across the entire web not just via your website or app.

 

Source: Coca-Cola

We are just at the start of this new era of the internet and doubtless there will be developments and methodologies that emerge with time. There are more questions that should be considered. For example, should marketers be assessing the impact of physical and virtual-world marketing holistically or treating them as separate experiences altogether? This is simply a place for us to start thinking about the metaverse from an analytical perspective. But to even begin to answer such questions, you’ll need to do three things: 

  1. Give analytics a seat at the table. 
  2. Hire the right people to translate data from current marketing efforts into actionable business outcomes. 
  3. Employ the right technology to help enable the right people to do this work. 

These are exciting times for the marketing and analytics spaces with massive changes ahead and a new world of possibilities for providing engaging and meaningful customer (user) experiences. Now is the time to prepare. 

Contact IDX 

To understand how you can develop and measure content across multiple platforms and user environments, check out our approach to reporting & analytics or contact one of our experts. We can help.  

For Further Exploration 

“The Metaverse Is Challenging Businesses to Be More Immersive,” Alyssa Ruiz, September 20, 2022. 

“How Will the Higher Education Industry Adopt the Metaverse?” Alyssa Ruiz, August 30, 2022. 

“How Businesses Make Money in the Metaverse,” Billy Adams, May 3, 2022.