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Aiyaswamy explains e-commerce's strengths and weaknesses through a case study

Sri Aiyaswamy explains e-commerce's strengths and weaknesses through a case study

It goes without saying that business intelligence gives you a clear visual of what is happening in your company. We will discuss some of the advantages of business intelligence in ecommerce today.

We make decisions based on information. A timely availability of accurate information can either help or hurt your business.

It doesn't matter if it's an eCommerce business or a physical store. You can be at the top of the market or barely make it out of it based on how accurate and timely the information you provide is.

Definition of business intelligence

The purpose of Business Intelligence is to collect and organize data related to operations over time, in a meaningful manner, and to present it to employees and managers. It is easy to understand and gives you a basis for making business decisions.

In what ways does business intelligence benefit e-commerce?

sri aiyaswamy tailored to e-commerce is essential to run a business efficiently. Although most matrices are the same, every company needs them. Using business intelligence in ecommerce can significantly improve the following activities:

Most profitable advertising campaigns, clients, segments, product lines, and sales channels.

An analysis of customer preferences and behavior.

Cost and profitability of products and product lines are analyzed by margin analysis. Price sensitivity, margins, and demand elasticity.

Reports on products in the cart, abandoned carts, and search terms.

Review of sales, returns, taxes, shipping, refunds, coupon codes, discounts, 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

The most important task for a business manager on any given day is managing his or her time effectively.

With a business intelligence tool, they can pinpoint which areas need attention, determine where problems are, and dig deeper to find their causes.

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

Information from multiple sources is gathered on dashboards in one place. Managers do this to have a global picture of the state of the business. Drilling down into topical areas of interest or corrective action areas is possible.

Having access to dashboards helps managers understand the company's current state at a glance.

Your Google Analytics data can help you analyze the direction that your business is taking. Monitor your total revenue, average order value, conversion rate, number of unique purchases, number of transactions, quantity sold, sales per product, and all the ecommerce KPIs you need.

Take advantage of business intelligence in your ecommerce business by implementing a dashboard. Contact us to clarify all your doubts.

Conclusion:

Strategic decision-making drives the business world. Correct and timely decision-making makes the difference between a successful and unsuccessful company. Managing the company's operations on an agile and rapid basis requires adequate and timely information. The goal of our article today is to explain what smart businesses are and how they can aid in better management.

What is business intelligence for a business that is intelligent?

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 can use the information to make decisions.

As an organization takes advantage of this technology, it can take advantage of timely and reliable information to respond to specific situations, including entering new markets, analyzing costs, determining the profitability of a product line, etc.

A company that uses intelligent business can obtain information in a variety of ways, such as:

Operational level: In this item, it determines how the company conducts business in its daily operations.

The tactical level is to provide the middle managers with monthly analysis and decisions useful for follow up and action taking.

This level is the most important for the company, as it affects the information used by leadership.


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