Consider the amount of data that is being generated by the modern omnichannel shopping portal and multiply it by 10. That is the amount of data that will be generated by your run-of-the-mill eCommerce venture in just 4 years. These data sources, if untapped, can lead to a significant loss both in terms of revenue and business growth opportunities.
When retailers or wholesalers started selling online, the early adopters were few in numbers and hence easier to manage and understand. Now, years later, average shoppers shops online more than in brick and mortar stores in various categories. Big data analytics comes ready with all the arms and ammunition to deal with this latest boom in omnichannel shopping.
Key insights one can get from an eCommerce analytics product like Bizintel360:
Behavior analytics:
- Who is your loyal shopper?
- What is his buying trend?
- What is the revenue generated by the loyal customer?
Social media analytics:
- What are the general views of your product and service on social media?
- What is the best social platform to target your customers?
- How effective is the retargeting and recommendation system on social media?
Order Analytics:
- What is the average time between orders?
- Repeat order probability
- Does retargeting help reduce cart abandonment rate?
Product analytics:
- How are products are performing in a particular category?
- Which products need promotion and which products need to be removed from the inventory?
- Average products and order value in one order
About Bizintel360
Bizintel360 is one of a kind solution that has all the capabilities customers look for in a BI solution. It is a fast, easy and secure solution that gives the power of advanced data analytics in the hands of business users. And to top it all, the product trial is completely free with no credit card requirements or lengthy registration process.
