E-commerce and Web Analytics
Saurabh Moondhra, MSc
Entrepreneur | Empowering Lives Through Compassionate Care
Capturing customer interaction and leveraging the analytics data
Google analytics on a website will suggest 74 out of 100 visitors used mobile. While 95% of the visitors are from the US, and upon further going into geographic details, it would tell 40% are from North East region while others are distributed across the country.
Another type of analysis will tell if the visitors from the UK are interested in Soccer section of the sports column as compared to visitors from the US are interested in Football.
To leverage the full power of their web presence-
The analytics tells us the visitors from a geographic region. If the website is designed as global retailer, like eBay and the visitors are concentrated from a region, for example Mexico. And are not from a region, like Albania. The analysis will suggest how great or poorly, the marketing team is performing.
Power of web analytics and data mining.
A detailed analysis upon patterns and trends, tells the user the specific time of shopping, the season of shopping, users when shop frequently, what products are bought frequently. Also, how long a repeat user is coming in to check the prices and only buys when the product is on discount.
The E-commerce company can use the data to forecast the sales of a product in a season. It can predict if a particular product needs a restocking in a regional warehouse or it needs marketing because of its pricing?
What was the benefit or competitive advantage?
Using analytics, tells you trends and patterns and following those, will keep the user ahead of the curve. The trend suggests sales. Which product needs marketing and which one needs a discount.
Bibliography
Brokaw, L. (2014, June 2). business2community.com. Retrieved from 3 Strategies for Competitive Advantage With Analytics: https://www.business2community.com/business-intelligence/3-strategies-competitive-advantage-analytics-0901252
Jones, S. (2016, January 21). How Data Analytics Can Give You a Competitive Advantage. Retrieved from Birst.com: https://www.birst.com/blog/%e2%80%8bhow-data-analytics-can-give-you-a-competitive-advantage/
Norman, J. (2017, January 31). fasthosts.co.uk. Retrieved from Data mining in ecommerce: https://www.fasthosts.co.uk/blog/business/data-mining-ecommerce
sfgnetwork.com. (2016, July 6). Retrieved from 3 Advantage of Using Analytics: https://www.sfgnetwork.com/blog/business-intelligence/3-advantages-of-using-analytics/