Digital Analytics for E-commerce and Online Business

Digital Analytics

for E-commerce and Online Business

Index 1.

Introduction

2.

Some important forms of Digital Analytics

3.

4.

a)

Web Analytics

b)

Social Media Analytics

c)

Business Intelligence

d)

E-Commerce Analytics

Functional Relevance a)

Sales

b)

Marketing

c)

Operations

d)

Finance

Overall Edge to Business a)

Informed and intelligent decision-making

b)

Warning signals and Loss Aversion

c)

Profitability analysis

d)

KPI tracking

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1. Introduction

• The data created by little things done on digital devices is extremely relevant to businesses.

• Analytics could reveal various important factors such as which product is viewed most.

• Better marketing strategies and operational plans can be formulated with business intelligence and advanced data analytics.

• Digital analytics makes business sense out of the digital data that is being generated.

• Digital marketing analytics is the entire process of collecting, analyzing and converting the digital data

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business

3

2. Some important forms of Digital Analytics a)

Web Analytics

c)

Business Intelligence

b)

Social Media Analytics

d)

 E-Commerce Analytics

4

2a. Web Analytics Features:• Understands the flow of web traffic, user behavior on a website, and the associated technologies • Comprehends user psychology and behavior when they are on a business website • Reveals crucial areas for improvisations.

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 5

2b. Social Media Analytics Features:• Studies and analyses data created by the users on various social media platforms • Targets customers and audiences by pitching with the use of humongous volumes of data are created on social media platforms like Facebook, Twitter, Instagram, Snapchat, YouTube etc • Helps businesses to build sharp strategies • Helps companies can also focus selectively

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 6

2c. Business Intelligence Features:• Focuses on the present circumstances.

• Helps in finding out the weaknesses and opportunities in the current business practices or way of functioning based on real-time or past data.

• Focuses on what future trends could be and what can be done.

• For eg. Going digital and omnichannel could help retailers to get their business back to motion as economic activities resume

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 7

2d. E-Commerce Analytics Features:• Specifically targets ecommerce platforms owing to their immense potential of providing meaningful data • Focuses and analyses the sources of user traffic • Provides insight on user activities and other such relevant information • Creates Better understanding of user experience on an ecommerce platform • Analyses ways to increase traffic and conversions.

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 8

Functional Relevance a)

Sales

c)

Operations

b)

Marketing

d)

Finance

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3a. Sales Digital analytics can helps sales function in Goal Setting, Providing Insights, Identifying Unmet Needs, Periodical Sales Analysis Majorly Digital Analytics helps Sales function by:• Setting proper and pragmatic targets • Generating sustainable revenue • Understanding to drive a sales opportunity.

• To identify un‐served and underserved areas • Assessing the performance of the sales department • Knowing about performances, contributions, areas for improvement

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 10

3b. Marketing • Objective of Digital analytics in marketing is to improve the efficiency and effectiveness of the marketing strategies and efforts of a business enterprise.

• Majorly it helps Sales function in:• Predicting seasonal trends • Merchandising decisions • Redefine target segment • Pricing decisions • Supply chain decisions • Website and social media analytics • Performance of SEO and SMM strategies

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 11

3c. Operations

Areas where data analytics help in operations management are :• Procurement Planning • Merchandising • Supply chain and inventory • Budgeting

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 12

3d. Finance Department

Areas where financial data analytics can help your finance division are:• Financial planning and forecasting • Cash Flow Analysis • Investment decisions, return on investment, break-even analysis, etc.

• Profitability, liquidity, and leverage

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 13

4. Overall Edge to Business 1.

Informed and intelligent decision-making

3.

Profitability analysis

2.

Warning signals and Loss Aversion

4.

KPI tracking

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4a. Informed and intelligent decision-making

Significance of Data Analytics in Decision Making • Analyses tons of relevant business data • Makes informed decisions but also intelligent decisions • Provides grounds for an even better decision

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 15

4b. Warning signals and Loss Aversion

Significance of Data Analytics in providing Warning Signals • Data analytics can help businesses make predictive analyses • Resources being poured into a less profitable or more risky option/project/decision could be diverted to better alternatives.

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 16

4c. Profitability analysis Significance of Data Analytics in Profitability Analysis • Calculates and assesses the profitability of individual products, or its SKUs, or compute category wise profit • Help to figure out which segment is your cash cow and which is not

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 17

4d. KPI tracking

Significance of Data Analytics in KPI Tracking:• Data analytics can help companies refine, redefine, and keep track of the established KPIs. • Directs project and its parts to ensure they are headed in the right direction

Introduction

Some important forms of Digital Analytics

Functional Relevance

Overall Edge to Business 18

5. Summary • The data from various sources can help the various teams in various ways.

• The analysis of data behind a campaign can help to pinpoint the successfulness of it, why and how the audience interacted with it.

• Data can be used to help refine and improve How YRC Digital will help?

• YRC is the service brand of YRC dedicated to digital products & digital transformation consulting.

• YRC is a dedicated team of professionals who understand digital analytics and know how it can be leveraged to achieve digital transformation from inside out.

• For more information visit www.yourretailcoach.com

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https://www.yourretailcoach.in/

Thank You

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