E-commerce Business Analytics

How BI Can Help

As the world shifts more profoundly to an e-commerce-related buying model over the in-store one of the past, the need for a data analytics software to keep track of all business matters has grown immensely. E-commerce businesses benefit greatly from e-commerce analytics software in many domains including supply chain management, fraud detection, statistics relating to the company and its employees, recommender systems, product/stock information, online marketing initiatives, predictive analytics, and optimizing the user experience.

The ability to incorporate data from different systems into one place where it can be visualized to find inconsistencies or be drilled down for actionable retail analytics insights allows a business to optimize their processes, cut costs, and create better strategies moving forward.

The (Big) Data Challenge

Running an e-commerce business means dealing with a lot of moving parts. Information comes from many directions often from different, sometimes incompatible, systems. The ability to integrate these disparate datasets into one location for analysis is a key aspect for e-commerce companies in standardizing their way of recording, storing, and visualizing data.

E-commerce is dynamic requiring a constantly updated system, and companies benefit from the ability to visualize, drill down on, and find actionable insights in their data to improve overall performance. Plus, with growing concerns related to fraud, establishing systems for identifying and dealing with fraudulent behavior is imperative for a well-running e-commerce business. Using the right e-commerce analytics tool allows a company to do all of these things.

What e-commerce Analysts Should Look for in a BI Solution

When looking for an e-commerce business intelligence platform, the first thing is to have one that can assimilate large and incongruent datasets to form a single version of truth that can then be queried as a unified pool. The ability to manipulate and query the data effectively is important, as is the capacity for non-IT users to be able to operate the platform.

Relying on IT to create and maintain all e-commerce dashboards slows down the reporting process, and takes away the ability of separate departments to have control of their own data. In dynamic environments, information becomes stale quickly necessitating the ability for self-service reporting that can be done when it’s needed by whoever needs it. A good e-commerce analytics program allows users to drill down to extract granular data points in order to gain a more clear picture of what is going on, while keeping track of all interior company information relating to employees, operations, and supply chain management.

E-commerce analytics software provides the ability to filter for fraudulent behavior and keep customer records secure, which are both growing issues for this industry. Last, as e-commerce deals with customer buying behavior, the ability for predictive analytics is integral in understanding and planning for what customers will do next.

Why Sisense?

Sisense was designed to be used with large and distinct datasets without the need for purchasing additional hardware or requiring additional data storage. By being in the web the system is both infinitely scalable and flexible, while still allowing for the tiniest data points to be drilled-down upon and giving the capacity for constant refreshes to keep everything up-to-date.

One of the reasons it’s the optimal system on the market for e-commerce data analytics is the ElastiCube technology. The ElastiCube was built to be used by non-IT users as well and permits different departments to build and be responsible for their own dashboards and data querying, bringing down the time for reporting and allowing workers to access the data relevant to them. With Sisense, Live Data Models can be built in either SQL Server or Amazon Redshift and compared against historical data to reveal trends and patterns not otherwise seen. Sisense allows the ability for predictive analytics, is a first-rate tool for identifying anti-fraud issues, and is designed to keep all information within secure. As a way to measure marketing initiatives, get a better overview of the whole supply chain functionality, and keep track of company issues from employee performance to payroll, Sisense inspires e-commerce businesses to gain a full 360° view of their entire operation.

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