An e-commerce website with advanced technology is the first step in success of your business. Magento, a leading name in e-commerce domain has more than 240,000 clients swearing by it including top brands like Nike, Fox connect, Skype, Samsung, Nestle, etc. Magento web development offers a flexible & robust e-commerce website solution for online merchants looking to grow rapidly. In today’s competitive market, modern merchants need more than web traffic data & transaction reports to establish themselves as a rich e-commerce brand. Therefore, Magento business intelligence (MBI) is implemented to analyze your top customers, products, and promotions to find new growth opportunities.
According to Gartner, worldwide business intelligence industry is expected to reach around $22.8 billion till the end of year 2020, thus for traders it is essential to opt the best business intelligence tool. In this way, Magento BI is the most effective advanced cloud-based analytics solution to arrange all your business data in a meaningful way. It seamlessly integrate you with Magento stores which enables you to fetch data directly from your customer database and track their behavioral data & purchase history that result in detailed customer segmentation. It enables enterprises to harness the powers of data and use it efficiently to take several advantages.
Here are the key-features of Magento analytics that merchants & businesses must know
Personalized marketing & sectionalization
Based on purchases, retailers can break their customers into groups and place this data into the charts. Therefore, they can see the customer lifetime grow and can track their behavior to determine who are the most potential customers of their business. Merchants can compare their consumer lifecycle of customers acquired in different years and find outcomes that which channels are generating higher ROI or which channels are creating a negative impact. With Magento analytics, one can effectively evaluate & implement marketing strategies in order to ensure the success of an e-commerce business.
Proper site integration
Magento web development services provide you with the best e-commerce solution. And, its analytics platform seamlessly integrates you with your e-commerce store, you can fetch data directly from your recorded customer database. You can access every data of each customer source of entry, shopping behaviour, purchase history, etc. Hence, with proper analytics report, you can modify your marketing strategies and add promotional triggers & various offer plans that can put more impact on your loyal customers. This becomes possible because of MBI that leverages data directly from your database.
Profit & revenue analytics
Magento business intelligence accurately measures the profit and revenue in any circumstance as it is crucial for every business to regular keep track on their progress path. One can get an exact figure of their profit by summarizing tax, shipping, discounts, and other fees. Exact figures always give you exact results and that is what one can achieve with Magento analytics. Also, save resource in terms of time and money with advanced analytics insights.
Magento BI dashboard
You can make use of Magento connectors with third-party platforms like Facebook and AdWords and build & access your reports from anywhere anytime. This all information is available to you through your dashboards and you can organize your information into your own customized reports. You can give access to different dashboards and can control data. Set up intelligent alarms and for tracing the value you want and enjoy the seamless experience for your Magento reporting. The use of fully customizable dashboards and visualizations is an amazing feature in Magento development services.
User-friendly & Powerful
Magento business intelligence offers various specific features and easy to use for business owners. You have access features like multi-tier data analytics and interactive consoles. Many B2B traders get the most successful results for their e-commerce solutions. Magento BI data can be integrated with Google analytics and you can determine the relationship between your online store and site traffic. You can determine the best possible way to get maximum traffic to your Magento web development site.
This is a cloud-hosted analytics platform which brings merchants with right solutions. They can draw the valuable business insights by strengthening the business data with various third-party tools. You can identify the most valuable customers by tracking their behavior, and improve your sales channels. You can make smart decisions based on real-time scenario. So, personalize shopping experience with Magento web development and enhance your capability with Magento business intelligence.
The best thing about Magento is that you can customize it according to your way. It is perfectly suited for businesses and users & its cloud-based delivery model will seamlessly solve complex data infrastructure needs of any organization. Magento development and business intelligence bring new customers to the business by gaining valuable insights of the customer behavior, showing the profits and indicating of services and products that result in return customers.