E-commerce analytics – why is it important?

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A reliable way to grow your online business and understand your customers better is through e-commerce analytics. Today, we’ll focus on how to use it and how it can benefit your business.

E-commerce analysis – index:
What is web analytics?
E-commerce analytics – is it worth it?
Types of data analysis
E-commerce analysis – summary
What is web analytics?
Web analytics is the collection and analysis of data based on actions bosnia and herzegovina whatsapp number database taken. Reliable statistics can also help a company identify sources of problems and provide valuable information about the ROI of specific actions.

E-commerce analysis
E-commerce analytics – is it worth it?
Analyzing an online store can tell a brand when a surge in demand is likely , allowing it to prepare an appropriate strategy. These actions can also reduce costs because the company is prepared for different situations.

However, it’s often difficult to predict what customers need. Keeping statistics can help you identify a specific niche, so that a brand can consider launching a new product that consumers want. Collecting data also involves learning about user behavior , which allows you to take action to address their problems and concerns.

Types of data analysis
There are four types of data analysis:

descriptive – this is the basic form of data analysis. It answers the basic questions: what happened? how many times? when? where? An example of this type of analysis is monthly revenue reports,
diagnostic – this approach is more accurate because it looks for connections between data and patterns of behavior. It answers the question “why did it happen this way and not otherwise?”
predictive – this analysis attempts to predict what might happen based on historical data, such as sales forecasts,
prescriptive – this approach aims to find the best solution and a way out of a given complex situation. It allows you to discern whether a certain action will allow the company to achieve a positive result.
E-commerce analysis
E-commerce analysis – summary
Online store analytics is an important part of running an online business. It also has an advantage over traditional sales because it provides a lot of valuable information to improve store operations.