In a fiercely competitive online world, there is an ever-increasing need to keep innovating new ways to sustain and grow online sales.      Data analysis is critical to being able to make the right decisions to drive this innovation; without this eCommerce managers and business owners alike make decisions based on opinion instead of data-driven intelligence – missing out on key insights and opportunities to maximise results.

Taking a data-driven business approach has 3 key challenges:

  1. Accessibility:  having data readily available and easy to present to key stakeholders
  2. Accuracy:  incorrect data and/or conversion tracking leads to business decisions being driven by the wrong analytical interpretations.
  3. Understanding:  analysis of data analytics is commonly a time-consuming and confusing process; even with great looking dashboards and reports, the understanding of data is critical to the effective use of it in your business.

So how can you implement a reliable data-driven strategy?

To get past our first challenge of data accessibility; Magento has come to the rescue with Magento Business Intelligence (previously known as R.J Metrics) –  an affordable cloud-hosted analytics platform which easily integrates with any Magento 1 or Magento 2 store.

If you have previously struggled being able to generate effective sales reports from your Magento store, prepare to be amazed and delighted at how easy it is to generate sales dashboards and reports.

Magento BI combines data from your Magento store with data from other platforms, such as Google Analytics, Facebook Ads, Mixpanel, NetSuite, Salesforce, Trello, and Zendesk (to name only a few).  

You can then use this data to create custom reports & dashboards to showcase the metrics that are important to your business.
Out of the box, there are 75 pre-defined reports and 5 dashboards to get you started; which covers:

  • Executive Overview
  • Sales / Orders
  • Product Analysis
  • Customer Retention
  • Customer Activity.     

This can then be extended upon based on your business needs.
The example below, shows custom analysis relating to Free Shipping Thresholds:

Isn’t this just like Google Analytics?

It does sound similar to Google Analytics at first glance, but there are a few significant differences.
First, Magento BI offers a range of Integrations to pull data from, as shown below, plus you can connect it to custom databases or use the import API.
So Google Analytics is just one data point.

* integrations shown with orange icon are only available on pro subscription

Usually data analysis like this would require review of each separate platform and then trying to combine data into an excel spreadsheet to generate a pivot report –  by combining the data with Magento BI you can get collective analysis of your entire business operation.

As an example, it’s  to determine and compare acquired customer lifetime value and the cost of each acquisition by channel. This is super valuable if you’re trying to figure out how much to spend on a specific ad network.

Secondly, as you have access Magento data you can have deep review of customer information offering the ability to calculate customer lifetime value and Cohorts.

Have you ever attempted to do this with Google Analytics? It’s impossible and requires a ton of guesswork and incorrect calculations.


Gain insights to answer key questions and measure business performance

There are many key performance indicators you can reference to drive your decision making toward steady and sustainable sales growth from your eCommerce website.   Here are some other key areas of data analysis that are most commonly sought by our clients, with some common questions that can be answered using Magento BI:

  1.     Advertising Budget:
  • Where is our advertising budget best allocated?  
  • What is the highest performing advertising channel based on revenue, traffic and conversion rate?
  1.     Order Value:
  • What is our Average order value (AOV) and is it increasing over time?
  • What promotional initiatives have proven to be successful in increasing AOV?
  1.     Cart Performance:
  • Which channel or promotional initiative is proving effective in capturing abandoned carts?
  • What percentage of new customer sales are made on the first visit?
  1.     Product Performance:
  • What are the best performing products based that have highest profit margin?
  • What products are frequently bought together?
  1.     Promotions:
  • What impact do coupons, discounts, and promotion have on overall sales?
  • How has lowering the Free Shipping Threshold effected AOV over time?
  1.     Customer Performance:
  • What percentage of sales is repeat custom?
  • Who are our highest value customers?
  1.     Business Performance:
  • Why has there been a slow-down in sales?
  • How can we make future projections on product sales performance to make purchasing decisions?

In summary, Magento Business Intelligence allows companies to make faster and smarter decisions with in-depth analytical data that previously would have required recruitment a whole team of analysts to collect.  It will help to analyse your top customers, products, and promotions to find new growth opportunities and share insights across your organisation with just a few clicks.


How to get started

Free with Magento Commerce Cloud:   If you make the smart choice of Magento Commerce for your eCommerce platform you will receive Magento BI as part of your Cloud Subscription.     Online Visions offers a complimentary set-up of Magento BI with all Magento 2 Commerce Cloud projects.

Free Trial:   Magento BI is available on a free 7 day trial, you can register and explore the system yourself, there is some preliminary set-up to establish the connection between it and your Magento store and other integrations.    Following the trial the subscription costs start from just $100 USD per month.

Magento BI Discovery Session:   Complete the form on this page to learn more.
Work with our specialist team to set-up your Magento BI account.

  •  7 Day Free Trial Account
  • Set-Up of Magento and Google Analytics Connections
  • Online Training Session:   System & Dashboards Overview
  • 3 Hours follow-up consultancy on custom reports and integrations

Magento BI Monthly Reporting:   No time to look at your data?   Schedule a monthly catch-up with our team to review and discuss your business performance and KPI’s.   Get the understanding, reports & insights you need to report to key stakeholders or track your business growth.

Digital Analytics Consultancy:   As a Magento Solutions Partner, Online Visions offers consultancy in Magento BI, data analytics and eCommerce marketing.       We can help with those 2 other challenges with Data Accuracy and Understanding of your data to give you a competitive edge over your competitors, make well informed business decisions, run profitable promotions, increase Average Order Value (AOV), improve customer retention. Learn More

Contact Us to learn more about Magento BI or how to implement a data-driven strategy into your business.