What affects the profitability of online shops?
E-consumers value online shopping above all for the more excellent choice of products in comparison with stationary shops, and they consider shopping there to be more comfortable and cheaper. They are attracted by the availability of assortment 24h/7, free deliveries, the possibility of comparing prices or getting to know the opinions of other customers. Today, these issues become even more important when, in the era of coronavirus, we have limited possibilities of making purchases in stationary stores.
However, it should be remembered that without proper online store preparation, it is challenging to generate profits at a level that satisfies us. Several issues are crucial for buyers. What counts here is the technical aspect of the website’s functioning, as well as proper shipping, efficient customer service or a well-thought-out promotion strategy.
Power BI – improve data analysis in an online store
Data analysis in e-commerce plays a significant role. It allows assessing the financial situation of the company, as well as an insight into users’ behaviour, makes it easier to track traffic on the website, helps in choosing the right assortment and improves customer service. Based on data analysed in Power BI, we can:
– Get to know better the recipients of our products and services,
– Indicate the most valuable sources of traffic in the online store,
– Optimally adjust promotion channels to the needs of buyers – Power BI Sales and Marketing Analytics by EBIS will be helpful in this,
– Select the products that generate the most profit,
– Minimize the problem of abandoned baskets.
For the data analysis in your online shop to work correctly, it is essential to aggregate and segment your data accurately. This is where Power BI comes in handy. It allows you to keep all data concerning your e-commerce in one place. This data can come from the CRM system, e-mail marketing systems, XLS sheets, data generated by the sales or customer service departments. This data is appropriately segmented and then presented in the form of clear and interactive reports. Importantly, it is accessible to all authorized persons, regardless of place and time. Power BI does not require advanced technical knowledge from its users – the built-in drag-and-drop functionality simplifies the analysis of even large data sets.
What kind of data can be analysed by Power BI?
Power BI gives a comprehensive insight into the condition of the entire online store. Thanks to data analysis in this system, you will receive information about:
Sales results – you will analyse the level of prices or sales of goods (also per SKU), determine the market share, compared to the competition.
Effectiveness of promotional campaigns – the information obtained from the data analysis will help you to determine the traffic of users on the website, the sources of their entries, activity in social media, as well as help in saving abandoned baskets.
E-store Finance – data analysis in Power BI supports the tracking of cash flows, receivables and liabilities, which gives you constant insight into the financial situation of your e-commerce and increases your ability to respond to possible crises.
