Effective data analysis is the foundation needed to identify business trends and patterns and create a successful marketing strategy. E-commerce data analysis tools provide ample opportunities to promote your online store.
In 2019, the global retail e-commerce market
was worth and is expected to library shop reach in 2022. E-commerce is on the rise, and to maximize results and stay competitive, it is important to have the right tools to analyze your business and where it is growing.
But with so many tools to choose from, it can be difficult to understand all the features and figure out which tool is best for you.
Whether you’re using eCommerce data analytics tools for the first time or upgrading your current software, our list will help you decide which program is best for your team.
How Can Ecommerce Data Analytics Tools Help Your Business?
These days, companies have access to a huge amount of different data. It’s easy to get bogge down in all of this information, so focusing on analyzing key metrics will help you stay on track.
Before we look at each tool, it’s a good idea to have an idea of what specific key performance indicators (KPIs) you want to optimize. While ਇੱਕ ਡਿਜੀਟਲ ਮਾਰਕਿਟ ਹੋਣ ਦੇ ਨਾਤੇ, ਇਹ ਲਾਜ਼ਮੀ these may be different for every online business, here are a few KPIs to get you starte.
- Revenue per visitor (RPV) is the average amount of revenue generate by one visitor to a website.
- Average conversion rate is the percentage of visitors who made a purchase on the site relative to the total number of visitors
- Average Order Value (AOV) is the average amount a customer spends when placing an order on a website.
Reviewing these eCommerce KPIs regularly should help you:
- Increase website conversion
- Determine the exact budget size
- Develop an effective pricing strategy
By using software designed specifically cell p data for e-commerce, you will have access to the right metrics and be able to optimize the above KPIs, as well as understand the specifics of your business and improve the shopping experience for your online store visitors.
