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The Data That Will Solve Your Ecommerce Business Problems

When it comes to resolving your e-commerce business problems the answer may already be in your data. This blog will discuss the different areas of your business where you can use data to solve some of your problems.

Without reliable data, it’s difficult to understand how well your e-commerce website is performing. Data should be at the forefront of your e-commerce strategy in order to make sound decisions for your business. By leveraging commercial data, you can set your e-commerce business up for success.

Why is data important?

“Using data to inform your decision-making process is important as it removes bias and emotion from the equation.”

“This is especially important when making changes to your website. A change may be suggested for aesthetic or UX reasons, but without testing, you can’t be sure of the effect it will have.”

“Large sites like Google, Amazon, and Netflix conduct thousands of tests every year to constantly optimize their performance. They know that small, marginal gains can accumulate into big wins.”

Making informed decisions is key to ensuring that your business only makes changes that will have a positive impact. Having data on hand to back up your decisions will help you to maximize your return on investment (ROI) and get the most out of your marketing spend. Additionally, thorough data analysis of your business will allow you to identify where issues may lie so that you can resolve them. Finally, understanding your audience is essential to tailoring your marketing strategy. Website analytics can help you identify who your current audience actually is – their age range, gender, and location. You may be surprised by the results.

It’s important to engage with your customers and learn from their behaviour data so you can quickly spot new trends and respond to user preferences. Data-driven e-commerce provides a constantly optimized onsite experience for customers. By understanding why customers are leaving your store without placing an order, you can make changes to reduce or remove these obstacles and see your abandoned cart rate drop.

There are many reasons why data is important for businesses, but here are three of the most important ones:

1. Improve processes – By constantly testing new strategies and analysing performance data, you can optimize your business processes and avoid wasting valuable time or resources on ineffective strategies.

2. Manage stakeholders – Commercial data gives you evidence to demonstrate the success of your marketing strategies to stakeholders and secure funding for future campaigns.

3. Forecast future sales – Data is also important for forecasting future sales throughout the year, particularly for key retail periods such as Black Friday/Cyber Monday, to make sure you have the stock you need.

At Visiosoft, we have a team of e-commerce specialists who can help you use your commercial data more effectively to grow your business. With our data-led approach, you’ll see real improvements that will have a direct impact on your profitability.

To find out more about our data-driven e-commerce data analytics solutions, please contact our team today – we’d be happy to hear from you!

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