The core benefit of business intelligence is to enable you to correlate data sources and gain an overview of the data that your e-commerce platform is generating and collecting. This could be a number of different sources, which give your reporting a robust foundation to run your business from. The following is just an extract.
Click through rate
Price per conversion
Number of conversions per channel
If your ERP system is integrated with your e-commerce solution, you can set up a report on the stock and correlate it with the pricing, sales figures, durability data and depreciation. By correlating this data, you can, for example, push marketing campaigns before a stocked product exceeds the final sale date and depreciates.
Your customers will have very different behaviours and preferences, which is why you can easily split them into segments.
You can split your segments according to behaviour, demographics, geography or something else. The most important thing is to create relevant groups that you can hit with targeted activities. Once you have done this, you can set up reports to keep track of buying behaviours in different segments or keep an eye on whether a targeted campaign has the same effect in different segments.
When analysing customer behaviour, we often find that companies have a group of customers who purchase specific goods at regular intervals. The core customers put a lot of money into your business. Once you have identified these customers, you may want to create reports on their orders. You can then contact the customer directly if the fixed order of 10,000 branded plastic bags every 3 months remains out of order.
Automating processes on the e-commerce platform such as pricing, can also be monitored. How has the price trend been on a given bicycle model? What are the consequences for the sale when the price is high or low?
Do not miss our free seminars, webinars and tips to grow your digital business