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Sri Aiyaswamy explains the benefits of business intelligence in ecommerce industry

Sri Aiyaswamy explains the benefits of business intelligence in ecommerce industry

You can never fail to benefit from business intelligence to have a clear overview of your organization. Today we'll explore some of the advantages of business intelligence for ecommerce.

The basis of decision-making is information. Accurate information is critical to your business' success, but its lack can hurt it.

The store / store doesn't matter as long as it's an eCommerce business. Information accurately and on time determines whether or not a company will excel on the market.

Definition of business intelligence

Data that is gathered and analyzed over a period and presented in a meaningful way is Business Intelligence or Business Intelligence. This document is easy to understand and provides a basis for making business decisions.

sri aiyaswamy offers many advantages when it comes to business intelligence?

A business can run more efficiently if it has ecommerce-specific business intelligence. However, most matrices are the same for all companies. Using business intelligence in ecommerce can significantly improve the following activities:

A better performance: Most profitable advertising campaigns, customers, segments, and products.

Changes in customer behavior and preferences are analyzed in trend analysis.

Profitability and cost analysis of products. Margins that can be improved, price sensitivity, and demand elasticity.

A report detailing the products in the cart, abandoned carts, search terms used, etc.

Report on sales: Analysis of sales, returns, taxes, shipping, refunds, promotional offers, credit card charges, etc.

Inventory reporting: Items sold, quantity on hand, items to reorder, new items, orders received and in process, inventory in transit, etc.

sri aiyaswamy for ecommerce

Business managers' most important task on a typical day is to manage their time.

Using a business intelligence tool allows you to focus on the areas that need attention, to find out where the issues are, and to dig deeper to determine their causes.

You can analyze more detailed data by using an ecommerce dashboard.

All the diversified information is gathered in a dashboard. Business managers can then get a comprehensive overview of their company's performance. The drilldown feature allows them to focus on areas that interest them or where they are concerned about errors.

A dashboard makes it easy for managers to monitor a company's state at a glance, saving time.

Analyze how the business is evolving with data integrated from Google Analytics. Get stats on total revenue, average order value, conversion rate, unique purchases, transactions, product sales, quantity sold, and more ecommerce KPIs.

Learn how to implement a dashboard in your business to take advantage of business intelligence in ecommerce. Come to us with all your doubts and we will help you.

Conclusion:

In the business world, decisions are made strategically. Making the right decisions at the right time makes the difference between a successful company and one that isn't. In order to carry this out effectively, adequate and timely information must be available to support and expedite the entire management of a company's operations. This article will focus on smart businesses and how they can help managers operate more efficiently.

Business intelligence: what is it for an intelligent business?

BI - or business intelligence - refers to a set of processes, applications, and technologies to facilitate the timely and easy acquisition, analysis, and interpretation of data from business systems. Businesses make decisions and become experts in their fields.

Technology is a key and strategic component of the organization since it provides decision-makers with timely and reliable information to respond to situations within the company, such as entering new markets, analyzing costs or profitabilities of products.

BI is an important tool in an intelligent business, as it provides a range of information, including:

Operational level: This item is for making daily decisions regarding the transactions carried out when the company is carrying out its operations.

On a tactical level, it provides information for middle managers in the form of analysis and decisions that will aid them in action planning and follow-up.

At this level, senior management's decisions have the greatest impact on the company.
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