Magento is the world’s largest open-source e-commerce platform used by more than 250,000 merchants worldwide. At Magento’s annual conference, Imagine, Magento announced they were launching a new analytical product. After extensive market research, the e-commerce giant had learned that there was a huge opportunity to launch an entry-level business intelligence software system to help merchants who do not have access to expert data scientists. These merchants may be on the verge of discovering the power of their site’s data and are just starting to understand how data can help their business, but needed a system with which they could correctly analyse data. Magento recognised the need for a tool to simplify things and make them accessible to all, removing the need for everything to be so complex.
Magento already has a sophisticated business intelligence software, but created what they now call ‘Magento Business Intelligence Essentials’ as an entry-level version what is now ‘Magento Business Intelligence Pro’. Magento’s covering of a range of different merchants allows their product and their brand to become more accessible and user-friendly to all businesses. The ‘Essentials’ companion offering is perfect for anyone starting out in analytics. As Magento is a highly customisable platform, the reports it provides should also be customisable for each individual user.
Some features of Magento’s ‘Business Intelligence Essentials’ system include…
– Better understand the performance of your store with 5 pre-built dashboards comprising 75 reports
– SQL report builder and visual report builder
– The ability to create and edit reports
– Compare data from Magento and Google Analytics
– Export raw underlying data to CSV and Excel
– Drill down into top performing categories and customer segments
– Allows users to collaborate with your team around data and share metrics with key stakeholders
– 10 user accounts with advanced user permissions
– User email reports and email summaries
– Understand repeat revenue and customer loyalty
Magento’s belief is that everyone should be empowered by data, regardless of their business size or level of technical ability. Their new product allows anyone to gain business-building insights and de-mystify data, as the tool will be accessible for anyone who wishes to grow and optimise their business. This information will also be extremely valuable to eCommerce businesses and agencies, as well as merchants. They will be able to look at reports concerning order numbers, monitor repeat customers, and analyse discount strategies – all this will enable them to learn about the consumer behaviour in order to make informed digital decisions.
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