Grow Your Online Store, With Unlock Insights!
E-commerce opens up a whole new spectrum of opportunities as well as challenges when compared to conventional in-store retailing. Selling online can be tricky without a comprehensive real-time view of your customer’s online behavior as well as your inventory flow. Unlock Insights work with clients to develop customized analytics solutions that cover each and every aspect of e-commerce like engagement analytics, sales funnel analytics, financial analytics, inventory analytics, product analytics and much more.
Engagement Analytics is the critical start point to for any ecommerce store. Engagement analytics reflects a level of usability and availability of ecommerce website.If the business has issues at these stages, the complete ecommerce business is compromised and no great product or fast delivery or superior inventory management can save the business.
Sales Funnel Analytics
Ecommerce stores are working in a highly competitive environment. The customers often have access to worldwide supply and it becomes very important to track the customer journey and know how the potential customers reach to the shopping cart. It is also commonly known as tracking the sales funnel and the conversion rate.
Analyzing the figures at each stage of sales funnel identifies the possible issues in the customer interaction blueprint – for example, it might be user interface at the input levels of the funnel or complicated checkout and payment processes at the output of sales funnel.
Traffic Source Analytics
The main reason of ecommerce being such an interesting model is availability for customers without the need of physical presence. The potential customers can visit the website from different sources and it is very important to keep track of performance metrics from each source in order to optimize the investments and return
Financial analytics is the generation of ad hoc insights to answer specific business questions and forecast possible future financial scenarios.Financial Analytics show business’ overall results in terms of revenue, the number of orders and profitability.
In ecommerce business, the success is strongly associated with the understanding of customer needs and behavior. You don't meet the customers in person so analytics become very critical. That is done by analyzing previous Customers characteristics and trying to drag insights from the data in attracting new customers.
Product & Inventory Analytics
Product Analytics provides valuable insight into how customers are interacting with your products. With detailed metrics and segmentation capabilities, it can transform the way you measure product performance and make decisions across every aspect of your business
Ecommerce stores find inventory optimization to be their most complex problem. Either being over-stocked or being out-of-stock has a lot of costs associated with it. Inventory Analytics can also be used for creating optimal inventory replenishment plans. Increase profits and ensure optimal stock availability for every store