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Sri Aiyaswamy explains how business intelligence in e-commerce can help

Sri Aiyaswamy explains how business intelligence in e-commerce can help

It goes without saying that business intelligence gives you a clear visual of what is happening in your company. Business intelligence in ecommerce offers many advantages.

We make decisions based on information. If you lack timely access to accurate information, your business may suffer.

It doesn't matter if it's an eCommerce business or a physical store. sri aiyaswamy will depend on whether you have accurate information at the right time.

Definition of business intelligence

An Enterprise Intelligence is the process of collecting and organizing information related to a business, over time, and presenting it in a meaningful way. Business decisions can be based on it since it is easy to understand.

Ecommerce benefits from business intelligence.

For an ecommerce business to run efficiently, it is important to have specific business intelligence. Most matrixes are the same for all companies, however. There are some e-commerce activities that can be aided by business intelligence:

Invest in the most profitable advertising campaigns, segments, products, and sales channels.

A trend analysis identifies changes in customer preferences and behaviors.

Profitability and cost analysis of products. Profit margins can be improved, price sensitivity, and demand elasticity.

Analysis of products added to the cart, abandoned carts, search terms used, etc.

An analysis of sales, returns, taxes, shipping, refunds, discounts, promotional offers, and credit card charges.

Inventory reports include items sold, quantities on hand, items to reorder, new items, orders received and in process, in-transit inventory, etc.

Business intelligence tools for ecommerce

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

The use of a business intelligence tool allows them to pinpoint areas that need attention, identify problems and further investigate their causes.

Your sales data can be more carefully analyzed if you use an ecommerce dashboard.

All the diversified information is gathered in a dashboard. By having a global view of their business, managers can make better decisions. Users can drill down into particular areas of interest or areas in which they believe changes are needed.

Managers can see the company's state at a glance using dashboards.

The direction the business is taking can be determined with Google Analytics data. Keeping track of sales, average order value, conversion rate, unique purchases, transactions, quantity sold, sales per product, and all of those ecommerce KPIs will help you make better business decisions.

Learn how business intelligence can benefit your business by implementing a dashboard. Let us help you with all your doubts.

Conclusion:

Businesses make strategic decisions. Correct and timely decision-making makes the difference between a successful and unsuccessful company. To accomplish this effectively, it is absolutely essential to have relevant and timely information that enables the entire operation of the company to be managed agilely and rapidly. We will discuss today what a smart business is and how it improves management.

Business intelligence: what is it for an intelligent business?

In business intelligence, a variety of processes, applications, and technologies are used to gather and analyze data from business management systems so they can be used to make decisions. Those responsible for the business are able to make decisions and gain knowledge.

Since tech plays a key role in providing decision-makers with timely and accurate information, they can respond to situations that may arise in the organization, such as entering new markets, cost analysis, or the profitability of a product line, for example.

Information provided by BI in an intelligent business can be categorized into different areas, such as:

Operational level: It is used for deciding the daily transactions in the company's operations.

In addition to providing information to middle managers, the monthly analysis and decisions let them take action following up on reviews.

At the strategic level, decisions have the most impact on a company, which informs senior management's decision making.


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