Ecommerce Analytics: What to Track and Analyze to Gain a Competitive Advantage (2023)

Ecommerce Analytics: What to Track and Analyze to Gain a Competitive Advantage (1)

VonMeredith Flora November 22, 2021

Ecommerce Analytics: What to Track and Analyze to Gain a Competitive Advantage (2)

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(Video) How To Conduct a Competitive Analysis (Guide)

If you're going on a road trip, you'll likely prepare for your trip with a detailed map to make sure you get to your destination, don't make any wrong turns, and get to your destination quickly and efficiently.

The same applies to your company. Accurate analytics can be the roadmap to your company's success.

Knowing the current performance of your business is crucial for any e-commerceresellers. Otherwise, you won't know if your existing strategies and processes are working or if your investments are generating sufficient returns. It also means you don't know if and when you're making mistakes or what you need to correct to improve your numbers.

That's why eCommerce analytics are vital if you want your DTC brand to grow. In this post, we'll help you identify the most important metrics andKey Performance IndicatorsYou need to keep up with ecommerce analytics and the best tools to help you gain a competitive edge.

What is ecommerce analytics?

E-commerce analytics refers to the process of collecting and analyzing data related to various aspects of your e-commerce operations. This includes everything from marketing and sales to website engagement, fulfillment and logistics. The goal is to gain meaningful insights into trends, business performance, back-end processes, and consumer behaviorSo you can make data-driven decisions based on these insights.

Analytics: The Secret Weapon for Top Ecommerce Brands

Brands can use ecommerce analytics to gain valuable and actionable insights into their business and operations. From identifying gaps in their existing processes to better understanding their customers, business owners can benefit greatly from analyzing the data they collect. These insights can better inform different aspects of your business to drive growth and improve the customer experience.

Implement data-driven strategies

From marketing to website design to warehousing, data analytics helps DTC brands create data-driven strategies. Ecommerce analytics can tell you which marketing strategies are resonating with your target audience, where user abandonment occurs on your site, and how much stock would be enough and when. All these insights will tell you how to make strategic decisions that will help you in the long run.

Using eCommerce analytics takes the guesswork out of your strategies so you can execute plans flawlessly and make a positive impact.

Understand and meet customer expectations

Are people more likely to buy your products after interacting with a live chat agent? Are they more likely to buy a certain product at a certain time of year? Are there any comments that point to an often unsatisfactory experience?

(Video) 7 Easy Steps on How to Perform a Competitor Analysis

Ecommerce analytics allows brands to gather answers to these questions and understand how to make improvements based on customer behavior, preferences and needs.

Optimize marketing and sales campaigns

Ecommerce analytics can help you understand how customers find you so you can capitalize on the most profitable channels. You can also understand what type of message resonates best with your target audience, allowing you to optimize your ad campaigns for maximum impact.

Reduce supply chain and fulfillment costs

E-commerce analytics can also alert you to where supply chain bottlenecks are occurring and how to make the entire process more efficient, not only improving fulfillment speed but also reducing costs. You can use it to identify any steps in the process that might cost a lot more than they should, so you can investigate and adjust them as needed.

Why Analytics in ECommerce Are Often Ignored or Underused

While analytics are important, they are often overlooked or overlooked in ecommerce because they can be so complicated. Ecommerce operations involve a lot of moving parts and there are a lot of things that need to be tracked across different departments and processes. Collecting and analyzing third-party data and switching between multiple platforms for metrics and analytics can be challenging.

The inability to get a single dashboard to track all aspects of your eCommerce operations makes the job extremely challenging. so manyE-commerceCompanies can limit their analysis to just a few aspects of their processes and struggle to discover insights that can be translated into action. One of the solutions to deal with the complexities and challenges of data collection and analysis in e-commerce is to use aSelf-service reporting tool. With self-service reporting tools, eCommerce store owners and managers can easily report on key performance indicators such as website traffic, conversion rates, average order value and customer retention.

Top ecommerce metrics to analyze

Since there are so many metrics you can track with ecommerce analytics, it's important to focus on the metrics that matter the most. This may vary based on your company's unique goals and may change by campaign.

In addition to campaign-related metrics, these are some of the most importantE-Commerce Metricscompanies often need to track to conduct their analysis:

  • Exchange rate
  • Cart Abandonment Rate
  • website traffic
  • bounce rate
  • scroll depth
  • exit fee
  • collection points
  • Quelle/Medium traffic
  • Demographics
  • Location
  • Return on advertising spend (ROA)
  • revenue per visitor
  • cost per acquisition
  • Average order value
  • Ad reach and impressions
  • E-Mail-Klickrate
  • SKU performance
  • average delivery time
  • Average service time
  • Average cost of inventory per unit
  • Average cost of care per unit
  • Average shipping costs
  • stock turnover rate
  • Order accuracy rate
  • on-time compliance
  • sales and profit
  • Customer lifetime value
  • turnover rate
  • retention rate
  • Refund and Return Fee
  • Net Promoter Score (NPS)

Website metrics and engagement

It's important to keep track of metrics that measure how your website is performing and how customers are interacting with it. You can use this to identify issues with your web design or placement and where you should make improvements to get more engagement.

Metricwhat does it measureAnalysis Tools
Exchange ratePercentage of visitors who end up converting, i.e. H. perform the desired action, eg. B. buy something or become a subscriberGoogle Analytics, Woopra, Matomo
Cart Abandonment RatePercentage of visitors who add items to their shopping cart without completing their purchaseGoogle Analytics, Matomo
website trafficThe total number of visitors to your e-commerce siteGoogle Analytics, Woopra
bounce ratePercentage of visitors who leave a page without taking the desired actionGoogle Analytics, Matomo, Woopra
scroll depthHow far do visitors scroll each page on your ecommerce siteHotjar, Matomo, Woopra
exit feePercentage of people leaving your site from a given pageGoogle Analytics, Matomo, Woopra
collection pointsWhere visitors leave your siteHotjar, Matomo

Marketing and sales metrics

These metrics help you measure the effectiveness of your marketing campaigns and your current sales performance. Analyzing your marketing and sales metrics can give you the information you need to refine your targeting and campaign messages.

Metricwhat does it measureAnalysis Tools
Quelle/Medium trafficWhich channels and platforms your traffic is coming fromGoogle Analytics, Matomo, Ruler Analytics
DemographicsThe gender and age distribution of your visitorsGoogle Analytics
LocationThe geographic locations of your visitorsGoogle Analytics, Matomo
Return on advertising spend (ROAS)How much revenue do you earn for every dollar spent on advertisingRuler Analytics, Crealytics, BeProfit
revenue per visitorAverage revenue generated each time you visit your websiteGoogle Analytics
recipe per orderAverage revenue generated from each order placed on your websiteShipBob
Cost per acquisition (CPA)How much does it cost to get a customer to take a specific actionNative Ad Analytics Tools, Ruler Analytics
Average order value(AOV)Average dollar amount each customer spends when they place an order on your websiteE-Commerce Enhanced by Google Analytics, REVEAL
Ad reach and impressionsThe total number of people your ad reached and the total number of people who saw your adNative ad analytics tools
E-Mail-Klickrate (CTR)Percentage of recipients who clicked a link in your emailMailTag

Inventory and Fulfillment Metrics

These metrics give you an idea of ​​how well the storage and fulfillment aspects of your e-commerce operations are doing. They help you identify process inefficiencies and learn how to make improvements to streamline service and improve the delivery experience for your customers.

(Video) Spy on Your eCommerce Competitors' Sales Tactics (Competitor Analysis)

Metricwhat does it measureAnalysis Tools
SKU performanceNumber of units sold for each SKU during a given period and comparison with the previous periodShipBoB
Average shipping time/Average transit timeAverage time taken by carriers to deliver orders to final destinationShipBoB
Average service timeAverage time it takes to deliver orders after they are placed on your siteShipBoB
Average cost of inventory per unitHow much does it cost on average to store each unit in your inventory. Calculated by dividing the total cost of inventory by the average units on handShipBoB
Average fulfillment cost per orderHow much does it cost on average to fulfill each order. It is responsible for the costs of receiving and storing inventory, processing orders, and picking, packing, and shipping.ShipBoB
Average shipping costsHow much does it cost on average to ship your orders and deliver them to their final destinationShipBoB
stock turnover rateHow often inventory is sold and replenished within a specified time periodShipBoB
Order accuracy ratePercentage of orders you can deliver correctlyShipBoB
on-time compliancePercentage of orders you fulfill on timeShipBoB

Bonus Business Metrics

In addition to these category-specific metrics, there are several other metrics that are important to measure. This gives you better insight into how your ecommerce business is performing, especially when it comes to keeping your customers happy and engaged.

Metricwhat does it measureAnalysis Tools
ProfitTotal revenue from selling your products and the remaining revenue after deducting expensesE-commerce enhanced by Google Analytics, BeProfit, REVEAL
Customer Lifetime Value (LTV)Average revenue your business can generate from a customer over timeREVEAL, Crealytics, BeProfit
turnover rateThe number of customers your business loses over a period of timeCrealytics
retention ratePercentage of customers your business retains over a period of timeDISCOVER
Refund and Return FeePercentage of orders requiring a refund and percentage of orders that were returned by the customerGoogle Analytics, ReturnLogic
Net Promoter Score (NPS)The likelihood that customers will recommend your brandDISCOVER

Manually tracking all these metrics can be challenging, if not impossible. Fortunately, there are several eCommerce analytics tools that can automatically collect and process the data to give you the information you need.

Google AnalyticsWebsiteleistung Tracking, Conversion Trackingfrei
HotjarHeat map tracking, behavior analysisFree with paid plans starting at $39/month.
WoopraCustomer journey analysis, product analysisFree with paid plans starting at $349/month.
VisibleWebsite performance tracking, conversion tracking, BesucherprofileStarting at $9/month.
ruler analysisCustomer journey analysis, marketing attributionStarting at $149/month.
CrealyticsROI tracking, CLV measurementBy request
DISCOVERCustomer analysis, product analysisFree with paid plans starting at $99/month.
MailTagEmail AnalyticsStarting at $12.99/month.
BeProfitprofit analysisFree with paid plans starting at $20/month.
callback logicPayback analysis with SKU-level insightsStarting at $300/month.
ShipBobFulfillment and logistics tracking, inventory trackingFree for ShipBob customers
Bonus: ECommerce Enhanced by Google AnalyticsComprehensive ecommerce analyticsfrei

Google Analytics

Google Analytics is a free tool that provides a detailed analysis of your website's performance. It helps you to track your website traffic and break it down by source, demographics and geographic location. It also provides insights into your conversions, abandonment rates, and refunds for a comprehensive view of your store's performance.


Oheat mapThe tracking tool helps you analyze how users are behaving on your site so you can see what they're interacting with, where their attention is and how your optimization efforts are changing their behavior.


With Woopra, you can visualize how visitors move around your website and how different products and marketing campaigns affect their behavior. It provides a detailed breakdown of where visitors drop off in the journey and how many users convert from Google AdWords.


Matomo is a powerful alternative to Google Analytics, providing comprehensive insights into your website's performance. In addition to the analytics you get with GA, it also offers conversion optimization features like heatmaps, A/B testing, and form analytics. Furthermore, you can even check all the actions taken by individual users on your website.

ruler analysis

This comprehensive analytics solution integrates with your website, CRM and other marketing applications to automatically generate accurate information about your sales and earnings. It lets you measure the performance of different marketing channels by revenue and leads generated and compare it to cost, allowing you to analyze ROAS and CPA for each revenue stream.


With the Crealytics CLV platform, you can accurately measure the value of your customers with detailed insightsCustomer lifetime value,Order margins and storage costs. It also gives you an idea of ​​how well your advertising efforts are paying off, with ROAS insights and a channel-by-channel breakdown of churn rate.


Omniconvert REVEAL is a comprehensive ecommerce analytics platform that allows you to track metrics such as revenue, margin, number of customers, AOV and average order per customer. You can also understand customer-facing performance insights with CLV, NPS, and retention rate data.


MailTag is an email tool that provides advanced information about your email performance. It shows you details like average open rate and link click rate so you can understand the effectiveness of your email campaigns.

(Video) Competitor Analysis Framework: The 5-Step Guide You MUST Follow


Available to both Shopify and Wix users, BeProfit allows you to accurately measure your ecommerce profits. It pulls data on your spend, marketing performance, CLV, platform-related conversions, and ROAS to provide you with accurate profit analysis and identify your most profitable products.

callback logic

This tool provides SKU-level information about your returns, helping you understand return rates and lost sales for each item. It also provides an analysis of the design variants that produce the most returns so you can determine if there are any issues with your products or processes.


ShipBob offers a free analytics tool that provides detailed insights into your inventory, fulfillment and logistics performance. You can use it to understand how to best allocate your inventory, when to reorder inventory, where you currently are in terms of order fulfillment, and how much you are spending to fill each order.

Bonus: ECommerce Enhanced by Google Analytics

As the name indicates,Enhanced ECommerce is a Google Analytics PluginThis gives you advanced insights into how your eCommerce store is performing. You can use it to better understand your customers' shopping experience by tracking behaviors throughout the entire customer journey. It provides information on average order value, sales, cart abandonment rates, and more.

How ShipBob Gives Its Customers A Competitive Edge With Its Analytics - For Free

Many eCommerce brands are already tracking their website's engagement, sales, and marketing performance. However, analytics related to inventory, shipping and logistics tend to take a backseat, mainly because it is difficult to collect data from so many sources and extract valuable information from them.

Fortunately, ShipBob with one gives you the competitive edge you need.kostenloses analytics reporting toolThis allows you to track all these metrics in one place. It helps you analyze efficiencies and costs in various aspects of your inventory management and fulfillment processes so you can identify opportunities for improvement.

This tool analyzes how much inventory you store in the ShipBob fulfillment network, when to reorder inventory, what your best selling items are and which ones are driving up your holding fees. It also automatically offers suggestions on how to proceed.distribute your stock optimallyto reduce transit time and lower handling costs.

Ecommerce Analytics: What to Track and Analyze to Gain a Competitive Advantage (3)

OAnalyse-Dashboardprovides an overview of key fulfillment metrics such as total cost to fulfill, average cost to fulfill per order, and percentage of orders fulfilled on time. This allows you to understand where you currently stand and quickly identify if there are any issues with your fulfillment processes.

Ecommerce Analytics: What to Track and Analyze to Gain a Competitive Advantage (4)

With these detailed inventory and fulfillment insights, thekostenloses analytics reporting toolfor ShipBob Users helps you stay ahead of the competition by showing you how to make your eCommerce fulfillment more accessible and efficient.

Start using ShipBob today to use these tools to better manage your company's eCommerce analytics.

(Video) Social media analytics and reporting | Google Digital Marketing & E-commerce Certificate

Request service prices


How to obtain competitive advantage using service in eCommerce? ›

How to obtain a competitive advantage in eCommerce
  1. Specify the product with quality. Niches come to mind for any online eCommerce website. ...
  2. Offer reasonable discounts. ...
  3. Competitors' research. ...
  4. Standout customer service. ...
  5. Affordable shipping rates. ...
  6. Offer after-sales service. ...
  7. Reviews. ...
  8. What to take from this.

What are the key concepts in eCommerce analytics? ›

There are three basic components in the eCommerce analytics framework – channels, user experience, and products. Knowing how to pull analytics data for these three components and segmenting that data are the two core skills that are required for excelling in eCommerce web analytics.

How can you track and enhance eCommerce sales via Google Analytics? ›

How to set up Google Analytics Ecommerce Tracking in 5 steps
  1. Click on the Admin button. In your Google Analytics account, click on the Admin button in the bottom left corner.
  2. Navigate to the correct view. ...
  3. Click on Ecommerce Settings. ...
  4. Enable Ecommerce. ...
  5. Add the ecommerce tracking code to your site.

What are the three 3 strategies for competitive advantage? ›

According to Porter's Generic Strategies model, there are three basic strategic options available to organizations for gaining competitive advantage. These are: Cost Leadership, Differentiation and Focus.

What are the 6 factors of competitive advantage? ›

Competitive advantages are attributed to a variety of factors including cost structure, branding, the quality of product offerings, the distribution network, intellectual property, and customer service.

What is ecommerce competitive analysis? ›

Ecommerce competitive analysis is a process that involves researching and identifying your e-commerce competitors. It relies on detailed research and data to understand the competitors' weaknesses and strengths.

What are the four pillars of eCommerce framework? ›

Every e-commerce business stands on 4 pillars: Profitability, Productivity, Payment, and Personalisation.

What are the 3 elements of eCommerce? ›

3 Important Elements of E-Commerce
  • Customer Experience.
  • Back-end Integration.
  • Digital Marketing.

What are some key components in an effective eCommerce strategy? ›

11 Components Of The Best Ecommerce Strategies
  • Know Your Market and Build a Brand with a Story, Don't Just Sell Products. ...
  • SEO and Content Marketing. ...
  • Pricing. ...
  • Order Fulfillment. ...
  • Have a Good UX, Optimize for Mobile, and Ask for Feedback. ...
  • Test Your Website Yourself. ...
  • Retargeting Campaigns and Loyalty Programs. ...
  • Checkout Process.
May 11, 2021

Which Google Analytics dashboard is essential for your ecommerce business? ›

SEO dashboard is handy with the departure of keyword data. It shows keyword data for 5-10% of organic traffic. It is a dashboard you need to have in your arsenal as it showcases: Organic landing pages with the highest conversions or goal completions.

How big data analytics works for an e-commerce website? ›

Using big data analytics, e-commerce companies can establish a 360-degree view of the customer. This view allows e-commerce companies to segment customers based on their gender, location, and social media presence.

How do I track ecommerce conversions? ›

How to track ALL conversions in eCommerce
  1. Let's start with identifying target conversion events. ...
  2. Create a structure for your tracking parameters (UTMs) ...
  3. Choose your instrument to perform conversion tracking. ...
  4. Add tracking scripts to your shop. ...
  5. Generate tracking parameters. ...
  6. Add tracking parameters to all campaigns.
May 19, 2022

What are the 5 key performance indicators? ›

What Are the 5 Key Performance Indicators?
  • Revenue growth.
  • Revenue per client.
  • Profit margin.
  • Client retention rate.
  • Customer satisfaction.

What are the 3 SEO KPIs you should be tracking? ›

Once you've set up your Google Business Profile, you'll see several metrics tracked by default within the platform. Including searches, views, clicks, direction requests, and calls. These are all extremely important metrics for a local business and should be tracked as SEO KPIs.

How are KPI used in e commerce industry? ›

Key performance indicators (KPIs) are like milestones on the road to online retail success. Monitoring them will help ecommerce entrepreneurs identify progress toward sales, marketing, and customer service goals. KPIs should be chosen and monitored depending on your unique business goals.

How do you measure success in analytics? ›

Here are five key things to keep in mind for measuring your analytics ROI.
  1. Build The Business Case—And Know That It May Evolve. ...
  2. Be Disciplined. ...
  3. Leverage Value-Stream Mapping. ...
  4. Include Value Of Information As Part Of Mapping. ...
  5. Define The Right Metrics.
Mar 31, 2021

What are the metrics that an e commerce company might need to measure? ›

Top Ecommerce Metrics
  • Sales Conversion Rate. ...
  • Cost Per Acquisition (CPA) ...
  • Customer Acquisition Cost. ...
  • Average Order Value (AOV) ...
  • Micro to Macro Conversion Rates. ...
  • Customer Retention Rate. ...
  • Shopping Cart Abandonment Rate. ...
  • Repeat/Returning Customer Rate.
Nov 15, 2021

What are the 4 methods of gaining competitive advantage? ›

The four primary methods of gaining a competitive advantage are cost leadership, differentiation, defensive strategies and strategic alliances.

What are Porter's 4 competitive strategies? ›

Porter's Generic Strategies is a group of four categories of competitive strategy: Differentiation, Cost Leadership, Focus (Cost), Focus (Differentiation).

What are the 4 major competitive strategies? ›

Here are four types of competitive strategy and an example for each:
  • Cost leadership strategy. ...
  • Differentiation leadership strategy. ...
  • Cost focus strategy. ...
  • Differentiation focus strategy.
Nov 16, 2021

What are the two key pillars of competitive advantage? ›

Michael Porter defined the two ways in which an organization can achieve competitive advantage over its rivals: cost advantage and differentiation advantage.

What are the three important factors of competitive analysis? ›

With this in mind, these seven competitive factors should help you focus your competitive analysis.
  • Understand Core Products and Services. ...
  • Long- and Short-Term Market Trends. ...
  • Focus on the Right Competitors. ...
  • Focus on the Purpose of Your Competitive Analysis. ...
  • Be Flexible As Data Shows Popular Trends.
Nov 29, 2017

What are 8 ways to achieve competitive advantage? ›

  • Reduce costs. ...
  • Raise barriers to market entrants. ...
  • Establish high switching costs. ...
  • Create new products or services. ...
  • Differentiate products or services. ...
  • Enhance products or services. ...
  • Establish alliances. ...
  • Lock in suppliers or buyers.

What is SWOT analysis in e commerce? ›

Definition: SWOT refers to strengths, weaknesses, opportunities and threats. This analysis generates a list of what an organization does best and worst. It also defines areas for improvement and potential threats in the marketplace.

What is a competitive advantage analysis? ›

What is a competitive analysis? A competitive analysis is an assessment of your competitors' products, services and sales tactics, evaluating their strengths and weaknesses relative to your own. It's good business practice to conduct a full competitive analysis at least once a year.

Why does competitive analysis matter for e commerce? ›

It helps a business determine potential advantages and barriers within a market around a product or service and generally helps brands monitor how direct and indirect competitors are executing tactics like marketing, pricing, and distribution.

What are the 5 major components of the EC framework? ›

The EC framework is made up of the following components : people , the public policy , technical standards and protocols , business partners and support services .

What are the five business models for e-commerce? ›

In eCommerce, there are five different B2C business models: direct sellers, online intermediaries, advertising-based, community-based, and fee-based. Direct selling is the most common model.

What are the major components of EC framework? ›

An e-commerce framework is made of the underlying architecture needed to develop and maintain a system for selling products online. This system typically includes a digital storefront, product information manager (PIM), order management system, shopping cart, and payment processing.

What are the 8 key elements of eCommerce? ›

These elements are value proposition, revenue model, market opportunity, competitive environment, competitive advantage, market strategy, organizational development, and management team.

What are 3 key success factors for creating an effective e-commerce website? ›

Six factors in ecommerce success:
  • Regulation of product pricing. It's natural for customers to compare prices between brands. ...
  • Maintaining high quality products. ...
  • Improving store accessibility. ...
  • Making a wonderful first impression. ...
  • Securing your shipments. ...
  • Taking advantage of m-commerce.
Aug 8, 2017

What are the top 3 e commerce strategies that are the most effective? ›

There are three major ecommerce strategies to consider: product strategy, customer relationships, and corporate considerations. Each of these must work together to ensure the best possible outcomes for your brand.

What are the 6 e commerce security strategies? ›

The most common security breach for the ecommerce website is concerned with Integrity, Availability, Confidentiality, Non-repudiation, Authenticity, and Privacy.

What is the best analytics dashboard eCommerce? ›

“The most important Google Analytics dashboard for your eCommerce business is the eCommerce Overview dashboard,” says Maggie Simmons from Max Effect Marketing, a multi-brand agency. “This dashboard will show you the total number of visits, the number of new visits, total revenue, and total sales rank.

Which type of analytics goal are we most likely to use when dealing with eCommerce websites? ›

If you have an ecommerce website, you might use destination goals to track metrics like how many add to carts and how many checkouts were completed.

How do you Analyse an eCommerce website? ›

What metrics are important for analyzing an ecommerce website?
  1. Bounces and bounce rates.
  2. Exits and exit rates.
  3. Average order value (AOV)
  4. Checkout or sales funnel flow.
  5. Goal conversion ratemicro-conversions.
  6. Click-through rates (CTR)
Aug 17, 2022

What data is important for eCommerce? ›

Customer Data in eCommerce helps businesses come up with innovative pricing strategies for every product rather than simply relying on competitors' prices. Most importantly analyzing customer data helps in forecasting product demands.

Which tool could be used to Analyse data about your eCommerce site? ›

You can't go without google analytics for your eCommerce store. It's free, easy to use and with Google free demo account you can get your hands on the tool before you implement it on your website. Google analytics also comes with a search console tool, which makes it an excellent package for eCommerce entrepreneurs.

How can you increase ecommerce sales through Google Analytics? ›

How to Use Google Analytics to Boost E-commerce Sales
  1. SEO - unlock more SEO traffic. See real results.
  2. Content Marketing - our team creates epic content that will get shared, get links, and attract traffic.
  3. Paid Media - effective paid strategies with clear ROI.

How do I increase ecommerce conversions? ›

30 Ways to Boost Your Ecommerce Conversion Rates
  1. Use high-quality images and video on your product pages. ...
  2. Offer free shipping. ...
  3. Provide limited-time coupon codes. ...
  4. Be competitively priced. ...
  5. Tweak and test your ecommerce checkout process. ...
  6. Use shopping cart abandonment software. ...
  7. Use live chat software and chatbots.

What are required parameters in GA4 ecommerce? ›

Required parameters are either item_name or item_id . You can also add promotion and item list parameters (e.g. promotion_name or item_list_name ) to the items in the items array if you want to add credit to a promotion or an item list for the current action.

What method will you use to analyze your data? ›

The two primary methods for data analysis are qualitative data analysis techniques and quantitative data analysis techniques. These data analysis techniques can be used independently or in combination with the other to help business leaders and decision-makers acquire business insights from different data types.

What is the best way to analyze your data? ›

To improve how you analyze your data, follow these steps in the data analysis process: Step 1: Define your goals.
  1. Step 1: Define Your Goals. ...
  2. Step 2: Decide How to Measure Goals. ...
  3. Step 3: Collect your Data. ...
  4. Step 4: Analyze Your Data. ...
  5. Step 5: Visualize & Interpret Results.

What is SWOT analysis of an eCommerce website? ›

A SWOT analysis is a technique to find out the internal and external factors that make a company successful or not. In other words, it's a tool to analyze in detail how your online shop is doing so as to design a long-term strategy.

What is big data analytics in eCommerce? ›

Big Data analytics means the process of harnessing these large data sets to reveal hidden patterns, market trends, customer preferences, etc. With the help of big data analytics, business owners are empowered to derive values from information and make optimal business decisions.

What are the 7 analytical methods? ›

The 7 Most Useful Data Analysis Methods and Techniques
  • Regression analysis.
  • Monte Carlo simulation.
  • Factor analysis.
  • Cohort analysis.
  • Cluster analysis.
  • Time series analysis.
  • Sentiment analysis.
Jan 4, 2023

What are 5 methods of Analysing? ›

Diagnostic Analysis, Predictive Analysis, Prescriptive Analysis, Text Analysis, and Statistical Analysis are the most commonly used data analytics types. Statistical analysis can be further broken down into Descriptive Analytics and Inferential Analysis.

What are the 7 steps of data analysis? ›

A Step-by-Step Guide to the Data Analysis Process
  • Defining the question.
  • Collecting the data.
  • Cleaning the data.
  • Analyzing the data.
  • Sharing your results.
  • Embracing failure.
  • Summary.
Jan 30, 2023

What are the 3 steps to analyzing data? ›

These steps and many others fall into three stages of the data analysis process: evaluate, clean, and summarize.

What are two important first steps in data analysis? ›

The first step is to collect the data through primary or secondary research. The next step is to make an inference about the collected data. The third step in this case will involve SWOT Analysis. SWOT Analysis stands for Strength, Weakness, Opportunity and Threat of the data under study.

What is the best statistical tool that can be used to analyze the data? ›

1. SPSS (IBM) SPSS, (Statistical Package for the Social Sciences) is perhaps the most widely used statistics software package within human behavior research.

What are the best e commerce KPIs? ›

“The most important ecommerce KPI is average profit per customer,” says Stan Tan of Selby's. “The more profit you can get out of a customer, the more you can afford to spend on acquiring that customer.”

What are the KPI for an ecommerce website? ›

Key performance indicators (KPIs) are like milestones on the road to online retail success. Monitoring them will help ecommerce entrepreneurs identify progress toward sales, marketing, and customer service goals. KPIs should be chosen and monitored depending on your unique business goals.


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