Magento Business Intelligence: A Step Forward For Ecommerce Projects
As per the reports from Gartner, Business intelligence and Market analytics will reach $22.8 billion by the end of 2020. And analytical data are crucial for ecommerce business. Without accurate site statistics, business owners can only guess about which marketing activities can bring maximum profits for them. With appropriate analytical data, merchants can take data driven actions for their business. But dealing will lots of data generated from various marketing channels is a difficult task.
Magento users now have a perfect solution for them: Magento Business Intelligence. It is great for merchants who are engaged in advanced market analysis and also those who are recently discovering the power of data analysis. The main target of Magento BI was that even if you were not well equipped with SQL experts or data scientist, you should be able to gather important business insights from your transactional data.
A Look at the Features of Magento BI
One of the most important things about Magento web development is its customizability, and like ecommerce platforms, reporting solutions should also not be one size fits all. Magento BI has made it easy for business owners to track their customer’s behavior, segment the most loyal customers and trace the channels that bring the highest ROI. This would help to make data driven decisions and enhance user experience, create targeted campaigns and also make investments wisely. Business intelligence will help you to:
- Gather all your important data from various sources at one place so that it can be accessed from anywhere
- Get automatically updated reports based on metrics
- Restrict what metrics can be viewed by other users
- Create and enjoy a user friendly interface
How Magento BI Helped eCommerce Companies:
Magento BI is a complete analytics platform that gathers various data from the database, Magento extensions and any other third party tools, so that valuable insights can be derived to run the business successfully. What makes it stand apart is the ease of use, allowing both technical and non-technical people to easily analyze the data, create reports, take informed decisions and also innovate using data from any other organizations
- Magento development and business intelligence helped business acquire new customers by gaining insights of customer behavior, showing the profits and indicating categories of products or services that drive return customers.
- Analysis of the data generated helps the managers to put their efforts in retaining repeat customers who bring more revenues.
- Gain easy access to five dashboards that comprises of about 75 reports at an affordable pricing.
- Increase the efficiency of ad campaigns by 70%
Magento BI is Available in Two Levels:
Essential: It is a light version and is meant to be the sharing point for business owners. It includes pre-configured reports and does not allow adding external data and customizations.
Pro: This is an enterprise graded BI solution that is scalable, customizable and contains features that merchants need to drive their business. It has maintained the core offerings of RJMetrics.
To conclude, we can say that Magento enables merchants to have a clear understanding of their customers and marketing campaigns and optimize their business solutions based on actionable data that is generated from various channels.