Google has recently updated its Analytics package to allow users to create their own metrics.
The aforementioned “Google Analytics Calculated Metrics” enables you to create reports that give you a better sense of the value of your website.
What are Calculated Metrics Used for?
The examples suggested by Google as uses for this tool are currency conversion and “revenue” per user. Both of these are valuable metrics, that we could have calculated before, but now you can see them as columns in your tables and points on your graphs.
How to set up Analytics Calculated Metrics
Calculated metrics are set at view level, so:
- Click on the required view, in the Admin section.
- Click on calculated metrics and name your metrics.
At this point be aware that the name cannot be changed once it has been created and that all names must be unique.
The image below shows the setup of a currency converter from Pounds Sterling to US Dollars.
Obviously, with a calculated metric of this sort, you will need to regularly update the conversion rate.
Other Calculated Metrics Uses
The most obvious use of this is to give an actual profit on the sale of items. For example:
If you sell an item for £50 and make a Nett profit of £15, then you can create a Nett profit Calculated Metric that is Revenue * 0.3.
This will make it much easier to assess if your marketing streams are providing value for money.
If you have any questions regarding this post or any other areas of Google Analytics Calculated Metric please ask us in the comments. If you have lots of questions perhaps you would benefit from one of our Google Analytics Training Courses. Click on the link below to find out more.
- How to Create Smart Goals Using Google Analytics
- How to Use Google Analytics Campaign Tags to Easily Measure Performance
- Direct / None in Google Analytics and How to Fix It