DATA ANALYSIS
What is eCommerce Data analysis for eCommerce Business?
Data analysis is the process of extracting and processing metrics. It is particularly beneficial in the realm of online consumer behavior. The information helps eCommerce companies stay competitive in their niche markets. With these important insights, businesses can identify bottlenecks in their selling processes which provides an opportunity to refine strategies.
Which Ecommerce data analysis you need to monitor on your website
Your site’s bounce rate is the percentage of sessions that result in a bounce—which is what happens when a user lands on your site and exits without interacting in a meaningful way, like clicking on a call to action (CTA) or navigating to another page on your site.
Your site’s exit rate tells you how often users exit after visiting any number of pages on your website.
Average order value (AOV) measures the average total of every order placed with your online shop over a specified amount of time.
What eCommerce Development Agency Miracle can do for Data Analytics
Analyzing eCommerce data sounds scary and discouraging. eCommerce Development Agency’s strategic team guide and lead our clients focus on 5 metrics: Acquisition costs, Conversion rate, Customer behavior, Customer Retention and Revenue flow. Â
eCommerce data analysis shows everything that’s working and not working with your Shopify or WooCommerce sites. Miracle Digital eCommerce Data Analysis team walk you through what analytics for eCommerce is, give you a few ready reports and help you start using the conclusions you’re making on the data.
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FREQUENTLY ASKED QUESTIONS
When shopping patterns emerge, you can incorporate better business strategies. Data analytics reveals how customers interact with your website, what their preferences are and their favorite brands. Because data analytics are so involved behind the scenes, they can even tell you when spikes in demand take place so you can better plan for sales.Â
Data analytics can reduce your marketing costs. Because the metrics give you a greater awareness of what’s profitable and what’s not, you will not waste your budget on dead-end endeavors.
Yes, Loyal customers are often the result of a well-thought-out data analytics strategy. Because data sets help you get to know your customers better, you will be able to cater to their needs more efficiently. You can also get a feel for why carts are abandoned and work to resolve those issues.
Trends that emerge through data analytics help you manage your inventory better. Before the technology existed, it was difficult to predict how much of each product would be needed at a specific time – such as the holiday season. Measured data also reveals a clear supply and demand formula so you can price items right. Â
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