What are eCommerce Analytics Tools?Ecommerce analytics tools track and analyze the performance of online retailers. The software identifies which aspects of an eCommerce store are working well and which areas can be improved. It tracks consumers across eCommerce sites, capturing how they navigate and interact with them. This provides insights into purchasing habits and acts as input for mapping the customer journey. The tools collect data on visitors, searches, sales, conversion rates, and cart ...
We’ve collected videos, features, and capabilities below. Take me there.
Ecommerce analytics tools track and analyze the performance of online retailers. The software identifies which aspects of an eCommerce store are working well and which areas can be improved. It tracks consumers across eCommerce sites, capturing how they navigate and interact with them. This provides insights into purchasing habits and acts as input for mapping the customer journey.
The tools collect data on visitors, searches, sales, conversion rates, and cart abandonment rates. They identify the best customers, their shared characteristics, and how they were acquired. They note the most popular products and which products, and categories are trending. The tools pinpoint when customers are most active and the best times to introduce new products and offers. They provide pricing analytics and competitor analysis. The tools help fine-tune e-Merchandising, presenting the product in the most attractive way.
AI analytics powers personalization, engaging the customer by leveraging a customer’s viewing history to create personalized offers and discounts on specific products. It enables intelligent product recommendations by understanding a customer’s buying history and which products and product categories are often purchased together. AI and machine learning also contribute to price setting, inventory control, and fraud prevention.
These insights help increase sales and improve marketing, merchandising, procurement, inventory management, and supply chain operations.
Ecommerce Analytics tools are used by:
Business owners to monitor and improve their business
Inventory managers for fulfillment
Accountants to track costs and profitability
Marketers to understand which channels are most successful in driving traffic to the store and to determine which campaigns are most effective
Website developers to create an online store that maximizes usability and conversions
Ecommerce analytics tools integrate with:
Ecommerce platforms to capture information related to consumer website behavior and purchasing data
Marketing campaign software - to analyze their impact on eCommerce performance
Social media, chat, and product review sites to capture consumer sentiment
A/B testing tools to determine which iteration has the best conversion rates
Standalone eCommerce analytics tools are dedicated products focusing on online buying. Even though eCommerce analytics features are often included in general web analytics platforms, they often lack the advanced features that many standalone eCommerce analytics tools provide.
Most eCommerce analytics tools will provide the following features:
Real-time tracking
Captures data from multiple sources and devices
Captures consumer website behavior, customer acquisition, sales, and conversion data
Measures visitors, searches, sales, conversion rates, and cart abandonment rates
Traffic analysis and funnel measurements
Heat maps
Customer analytics – audience segmentation, characteristics of best customers, active times
Customer experience analytics
Personalization - product recommendations, cross-selling, discounts, and promotions
Sales analytics
Product performance – best sellers, weak sellers, product, and category trends
Pricing intelligence – supply, demand, discounting, and competitor analysis
Predictive analytics
Sentiment analytics
Supports marketing analytics, procurement, inventory management, and supply chain operations.
Fraud prevention
Integration with eCommerce platforms, marketing and social media tools, A/B testing tools, chat, and product review sites
Dashboards with KPI’s, analytics, and custom reporting
Consider the following when purchasing eCommerce analytical tools:
Features: Determine which of the many eCommerce analytical tools features are suitable for your purposes. What issues are you experiencing? Do you need an analytics tool that offers guidance on conversions, pricing, product performance, traffic funnels, or future demand? Select a tool that offers the features you need. Evaluate whether a general web analytics platform’s eCommerce analytical tool would be sufficient for your requirements.
Scope: Does your business have multiple eCommerce websites that require eCommerce analytics integration? Are they in different time zones, overseas, or conducting business in multiple countries and currencies? If so, there are eCommerce analytical tools that cater to those needs.
Pricing is free for some entry-level eCommerce analytics tools and tools that are part of larger analytics suites such as Google analytics.
Pricing for paid products starts as low as $9 a month but can increase up to $500 or more a month depending on the features provided. Enterprise-level products usually require obtaining a price quote and can be dramatically higher. Some product pricing is based upon the number of visitors or sessions supported.
Some of the main benefits of using an eCommerce analytics platform include:
These are some popular eCommerce analytics tools:
Pricing is free for some entry-level eCommerce tools and tools that are part of larger analytics suites.
Vendor pricing ranges from $9 a month to over $500 a month or more depending on the features provided. Enterprise-level products usually require obtaining a price quote and can be dramatically higher.
