Magento’s new Business Intelligence features and what they can do for your business.
Updated: Feb 18
In Mid-September 2019 a new release from Magento introduces a feature-set called Business Intelligence which are new ways of seeing your business performance and helps the business owner to operate more efficiently by interpreting data quicker through visualization tools.
eCommerce is data-driven
Data analysis is a key component in decision making on where to invest/grow your business. Focusing on what works, the more you can see into your business the more efficiency you can drive, but it all hinges on one key element-time. Reports take time to be processed, to be charted and to highlight anomalies or special causes to take note of. eCommerce produces a lot of data, the data overload merchants can get can be significant as they monitor everything from inventory to sales performance. The ability to departmentalize data reports helps to keep the right focus on the various data reports. The reviews are done in a more timely fashion with the right parties having control over the relevant areas. Enhanced Email summaries will help the reports stand out by easily schedule and send the relevant reports.
Scatter and Bubble charts help visualize patterns and trends in key parts of your KPI’s, Basket spending-by-source of advertising, or any other X vs. Y values you might imagine in plotting.
With the charts being “dynamic” they are current to-date which gives you real-time information about performance and trends. Additionally, Magento has introduced a third and fourth dimension to these visual reports which are very powerful in cross-referencing clients, revenue, geographies, and sources.
Dynamic Data pre-designed to inform and have Email notifications on generating Charted outputs to the right stakeholders of your eCommerce business defines Magento’s Business Intelligence. The power of information cannot be overstated in pushing for profitability and being competitive. Success in eCommerce is all about keeping on top of your business, and Magento delivers that experience.
More information: https://magento.com/products/business-intelligence