The growing competition in the eCommerce space pushes every online retailer to go beyond simply putting their products on a website. It means not limiting activities to marketing but also deep-diving into the analytics of your eCommerce website.
One of the primary reasons to use business intelligence for your eCommerce website is to have insightful reports that help make data-backed decisions.
That is, reporting tools provide access to actionable business insights that help you strategize better.
When you equip your business with eCommerce reporting tools that enable you to extract and present valuable data as visuals, and implement these visualization tips, you’re on the right track for growth. But the key lies in identifying the best-suited tool from a plethora of available eCommerce reporting tools.
Your eCommerce platform (such as Shopify, BigCommerce, WooCommerce, etc.) provides you with built-in analytics and reports. But, as an eCommerce business owner, you need to fully comprehend your shop’s performance and buyer behavior, for which you need the right external tools.
We have curated these ten highly efficient eCommerce analytics tools that provide some of the finest eCommerce reports that are beyond the usual. Let’s check them out!
HumCommerce is a well-known eCommerce conversion rate optimization (CRO) and analytics tool that offers various ways to help you analyze how your users engage on your site. One of its prominent features is screen activity recording that lets you know how users behave post landing on a particular page.
Moreover, it has unlimited custom funnels to map and analyze user journeys. You can benefit from its real-time data collection, especially when running an offer to analyze customer response and tailor those offers accordingly.
Lastly, it also provides you with the heat map report of your web pages. This gives great insight into how users interact on your page, where they click the most, which part they scroll through often, and what web elements they ignore.
Choose this tool for a slew of features, including extensive online business connections, guest meeting logs, and A/B testing, amongst others, for effective eCommerce website analysis and reporting.
It is annoying and concerning to see abandoned orders. This often happens when the customer faces barriers to placing an order. Cart abandonment is a pernicious scourge that impacts all eCommerce sites. An average cart abandonment rate is 68.37%.
That’s why you need to use a tool like Woopra that addresses the problem of shopping cart abandonment by helping you understand, analyze, engage and retain your customers. It provides a report on drop points and the time it takes for consumers to complete a purchase to help you build a successful shopping experience for your visitors.
With Woopra reports, it is easy to check the parts of your funnel that need work by analyzing the abandonment rate. Accordingly, you can take measures like adding more payment methods, providing live chat agents, offering guest checkouts, etc.
Woopra reports can also help you better understand your most valued clients by creating personalized profiles for remarketing to ensure higher sales.
Mixpanel enables you to better analyze your site for enhanced sales funnels and succeed with conversion optimization. It offers an extensive range of features to monitor product usage and your site’s mobile performance.
One of the key features of Mixpanel is that of advanced report segmentation. Although you might need some programming knowledge to do this, you will be able to segment your clients in ways that regular eCommerce brands fail to do.
However, their pricing is based on “data points” or visitor behaviors on your site requirements. These points are accrued each time a visitor leaves a remark, adds an item to their basket, or performs another conversion-related action, which means that if your business grows in popularity, monitoring will get more costly.
4. IBM Cognos Analytics
Cognos from IBM is a web-based reporting and analytics application that is not limited to eCommerce businesses. It works as a powerful reporting tool that helps data aggregation to produce user-friendly comprehensive reports. Leverage Cognos for its ability to help you export reports in PDF or XML format while enabling you to examine reports in their native XML format.
In feature-sets, you can use its in-memory streaming analytics that allows seamless data recording rather than in batches. With this tool, you are guaranteed reports of real-time events that keeps you updated with alerts and notifications on hitting/missing critical KPI benchmarks.
It is easy to use and implement, courtesy of its drag-and-drop functionality to export tabular data from excel sheets into Cognos quickly. You can also use this tool for other valuable features like scenario modeling, real-time monitoring, and predictive analytics, along with the capabilities to edit existing data.
Retailers and wholesalers use Brightpearl to handle sales, inventory, and customers in a single place hosted in the cloud. It is an eCommerce retail analytics tool that offers comprehensive reporting features. Use its real-time dashboards and retail KPI reporting tool to plan activities that drive results.
Use its integrated sales and inventory report to maximize stock investment by identifying patterns of inventory movements.
The customer analysis report helps better understand your customers’ behavior by identifying who is active, what they are buying, and what can push them to buy again. Such reports will provide insight into having inactive users for you to reach out to them using targeted advertising for an extended period.
This tool is useful for diverse businesses as it supports a variety of business models and eCommerce business types — a wholesaler, a retailer, or a brick-and-mortar shop owner running an online store.
Matomo (previously Piwik), also offered as a WordPress plugin, serves as an open-source Google Analytics alternative. If needed, you can hire a WordPress developer and integrate the Matomo WordPress plugin to swiftly start leveraging this eCommerce analytics tool that’s focused on data privacy.
It comes with specialized eCommerce functionality to better understand your consumers and boost sales. You can generate reports by blending products and purchase data with insights into consumer behavior. It aims at providing a holistic view of your eCommerce store’s success.
Use this tool for its open-source nature and commitment to providing you with complete control over your data. It comes with heatmap reports to assist you in optimizing the design of your website based on customer interaction.
You can leverage its multi-point attribution report that precisely calculates the return on investment from your marketing activities. Again, this one includes A/B testing tools to assist you in refining your eCommerce shop.
Omnisend stands true to its name, providing omnichannel marketing tools for eCommerce. It is not your single-dimensional reporting tool. Rather it integrates sales, marketing, and product KPIs. Moreover, these KPIs are readily available to filter as per your requirement and make sound decisions.
On the reporting front, Ominsend helps track your SMS and email campaigns with a dedicated dashboard. Reports in Omnisend will make it easy for your business to decipher data and identify the most effective marketing strategies.
You can navigate through key data with Omnisend’s analytics and reporting features like sales dashboard, advanced reporting, and campaign reports. Also, it can measure automation performance in campaign reports along with the typical open, click and bounce rate.
Putler is one of the most comprehensive eCommerce analytics solutions for brands that need to integrate data from multiple sources. You may be running multiple websites, have different retailers, dealing with various currencies, and offering multiple payment methods. How would you track such diverse data points without creating a mess? Putler is the answer.
Augment the value of your data and leverage consolidated reports in a single location as Putler combines data to a single source of truth. This eliminates the need to launch several applications to track and analyze your various eCommerce activities.
Putler offers a consolidated perspective and assists you in maintaining control of your data with a detailed customer report, sales and product data directly to your eCommerce dashboard.
Moreover, it also helps you leverage the seasonal opportunities as it analyzes these seasonal shifts and recommends effective methods. This includes offering a holiday insight report to analyze products that work around a certain holiday. You can also use ‘clubbed products’ to identify and club the most profitable products under the ‘frequently bought together’ category for a defined audience.
Put simply, you risk losing out on customer acquisition and retention without having access to actionable eCommerce data. Without analytics and reporting tools, you may never identify the issues that your website faces. But with these tools at your disposal, you can improve the design of your website and guide your marketing initiatives in a direction that ensures positive results.
The use of eCommerce business analytics and reporting will depend on the business objectives. Since all these tools come with different sets of features with some overlaps, you must identify the ones that suit your business requirements by diving deeper into each.
Lucy is a creative content writer and strategist at Marketing Digest. She specializes in writing about digital marketing, technology, entrepreneurship, and education. When she is not writing or editing, she spends time reading books, cooking, and traveling.