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Why Data Analysis for Small E-commerce Businesses Is Best Outsourced

The constant state of innovations and changes in the dynamic E-commerce retail sector has meant that small and large E-commerce businesses turn to technology to maintain their competitive advantage. Data-driven business insights are becoming crucial for any online retailer to gauge the changing market trends and customer behaviour.

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Why Data Analysis for Small E-commerce Businesses Is Best Outsourced

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  1. Why Data Analysis for Small E-commerce Businesses Is Best Outsourced

  2. While data or business analytics is crucial for any industry domain, data analysis for small E-commerce businesses in the form of E-commerce analytics has assumed an important role in the growth (or even survival) of these players in an increasingly competitive market space.

  3. Overall, the industry perception around data science in E-commerce is that this technology is only useful for the bigger players. This is why around 77% of the smaller E-commerce players do not have any strategy for data analysis and restrict themselves to limited business insights from free tools like Google Analytics

  4. What are E-commerce Analytics and how are they relevant to smaller companies?

  5. Effective SEO management that can target and attract over 40% of online shoppers who search for retail products through an online search. Data analytics tools help in measuring crucial KPIs like search volumes, cost-per-click, click-through rates, and conversion rates

  6. Better Customer Retention through methods focussed on building customer loyalty, repeat purchases, and customer satisfaction. • Customer retention is the lifeline of any E-commerce business as according to the industry statistics, 80% of future revenue will be generated from the top 20% of existing customers. • Through E-commerce analytics, you can track various KPIs like the percentage of returning visitors, social sharing, and modelling of the customer lifetime value (or CLV).

  7. Website optimization based on data insights provided by analytics tools on how online shoppers interact with your E-commerce website. • This include key focus areas such as user navigation, ease of product check-outs, product presentations, rate of abandoned shopping carts, and the overall usability.

  8. How does any E-commerce business analyse its data particularly as it is generated from a wide variety of data sources? Here are some of the most effective data sources: • Mouse track data including online clicks, click maps, and page scrolls • Live chat data including purchase intentions, product information, and customer feedback.

  9. 5 Reasons why E-commerce companies must outsource data analysis

  10. Reduces costs

  11. Focus on their core business goals

  12. More accurate data analysis with professional expertise

  13. Keeps your data secure

  14. Saves time and effort

  15. Conclusion

  16. For more information visit www.countants.com

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