The world of e-commerce is a complex one, populated by an infinite amount of data. Nowadays, online competitiveness is extremely high, and knowing how to analyze data in order to make the right decisions is a crucial step.
To work with an e-commerce business, therefore, it is necessary to have a Business Intelligence (BI) system. Such systems are also called Decision Support Systems ( DSS), or business decision support systems, precisely because Business Intelligence funnels endless business data, processes it, and provides concise, quick-to-understand outputs that then enable strategic decisions to be made.
E-commerce, business intelligence and Decision Support System
The data being analyzed are numerous and very varied from one another. In logistics , shipping and returns are the basis of any e-commerce, as are payment methods (credit card, wire transfer or cash on delivery, to name the most common). Obviously then the main data comes from orders: these can be completed, canceled or refunded. An order will consist of one or more products, each of which will clearly have a purchase cost, a taxable portion and an operating margin.
In case the e-commerce has multiple domains and the ability to sell its products in multiple countries it will be necessary to segment the data on a geographical basis. A famous proverb says, “Whenin Rome, do as the Romans do,” and never was a more apt saying: in every country, users’ buying behavior changes, and you need to be able to adapt to market demands.
E-commerce: business intelligence helps make strategic decisions
All these data taken individually are certainly indicative of a business process, but cross-referencing them opens up a range of new scenarios useful for making strategic decisions. This is why the statistical component makes Business Intelligence the ‘superhero’ that all e-commerce needs.
To date, there are several Business Intelligence platforms on the market including Haliante. Made by Tun2U, Haliante features a high level of detail in input and output data: in a few simple steps, data can be aggregated and cross-referenced to make summaries of activities performed and, therefore, estimates of new strategies.
Input data can have a variety of sources: from management to marketplaces, from physical stores to newsletter promotions.
Haliante allows you to retrieve data from multiple sources so that you have everything at your fingertips, but more importantly for analysis. In addition, it enjoys an extremely intuitive graphical interface, and on each screen you can immediately locate key data. In the dashboard, for example, an overview of e-commerce performance in terms of orders, average order value, and profit, gross and net, is immediately visible-in clear detail.
Business Intelligence is therefore indispensable for proper business management ex ante but also ex post, because every decision made on historical data has future developments.