Big data is all the rage right now. Everyone is talking Big Data. Unfortunately for most people its a rather nebulous and esoteric thing. Doesn’t really mean much, except everyone’s talking about it. On the other handanalytics also seems to be the latest buzz thing in business. Analysing data has been around for ever so I am not sure why its all the buzz except that today we have some very powerful tools available to crunch data. Since 2005, we have generated more data globally than during the entire existance of humans. Putting that behind us lets look at a real world example of how data can be used to generate meaningful and actionable intelligence. Think of your car’s dashboard. Thanks Mike for that analogy!
If you run an online store (web store) data is your lifeblood. Now that may sound like an odd statement as you proabaly always thought getting product to the customer and getting new customers was important, they both are, but as your business scales the B2C data you are collecting is gold. Remember the gold rush cry – “there’s gold in them there hills”… well your data is gold because it can tell you about the health of the business in ways your financials don’t. You can use the data and create actionable tasks that will allow you to grow your business in ways your financials won’t. We at VL have teamed up with the guys from MapsBI to put together a series of dashboards for ecommerce retailers. The BI package for web store owners will be officially launched on November 12th. However in the mean time I thought it would be useful to give you a sneak peak at the overview snapshot we created of a webstore. So lets look at the dashboard below tand look at how this web business is doing. The dashboard is populated using live ecommerce data. The first thing that jumps out is average revenue per customer vs order size. Clearly there is a marketing opportunity to upsell customers to bring the average sale up. Perhaps some contextual promotion of compatible products? The other thing that jumps out is the drop in orders between May and June. The quesiton springs to mind, was this because of a lack of marketing or lack of product availability? These are some of the questions that a web store owner could ask.
What Our B2C Web Store Data Looks Like Visualized and Mapped:
How We Did It:
So how did we do it? The integration process in and of itself is rather simple. We pull the B2C data from the web store API. We selected completed orders, in other words those that have shipped to the customer, we process and manipulate the data and then post it to the MapsBI API and automatically apply a dashboard template overlay on the B2C data. All of this happens in a seamless manner. No manual entry of data, no manual creation of the dashboard. On going, as orders are completed and shipped, the new data is appended to the MapsBI database and visualized using the dashboard templates. Pretty simple and very powerful. This is what good customizable integration can do.
Where we go from here:
This dashboard is just the first in a package of templates designed specifically for web store owners. We are developing an operational dash that has detailed information on product and shipping performance. We are also working on a product distribution visualization that will allow an etailer to see what products are selling where geographically. The uses are endless. Mapping product data geographically now allows the webstore owner to include marketing data from a marketing automation platform and correlate product sales to marketing campaigns. With VL’s growing list of marketing automation connectors we can easily aggregate your web store data and give you actionable intelligence.
Want to See More or Discuss What We Can Do ?