Magento Business Intelligence: What’s New for the Merchants?

If you have an e-store, pay attention to the Magento platform and its widespread popularity due to its rich functionalities and customization capabilities. This open source software is used by more than 250,000 online retailers, and it includes some major brands such as Samsung, Ford and Nike. While it may offer a rich library of features and features, Magento development offers very limited reporting and analysis capabilities.

Modern online store owners and merchants require something more than just transaction records and traffic data to remain competitive in the market. In simple words, they need business information. There are merchants who are frustrated and unwilling to go through the complex process of studying their customers’ behavior and formulating strategies based on the reports.

How did Magento help merchants with the benefits of Magento Analytics?

In 2016, to help dealers easily gain insight into their customers and across their organizations, Magento acquired RJMetrics, which provides big data analytics to businesses of various sizes. This was called Magento Analytics. This cloud-based, advanced analytics solution was integrated with the Magento development platform, enabling merchants to better understand their customers and sell their products smarter, while increasing their ROI. Magento Analytics is a business intelligence solution that collects data from various sources and offers an intuitive front end that can be used to discover new insights from merchants.

Magento Analytics redirected to Magento Business Intelligence

But today, Magento Analytics has been transformed into Magento Business Intelligence, reflecting the strength and depth of the software and providing a comprehensive view of the customer journey from various data sources. It allows merchants to gather data from multiple sources such as MySQL, Salesforce for Facebook Ads into a single source that is available across your organization. This has helped merchants gather faster and more accurate information and save their precious time and spend more on applying the insights.

Magento BI is suitable for both technical and business users, and its cloud-based delivery model seamlessly addresses the company’s complex data infrastructure needs. If merchants need additional help to work with and understand the data, they also offer additional professional services.

Magento BI Pro

There are two core products: Magento BI Pro, which is great for experienced merchants and is involved in advanced cross-source analysis.

  • Unlimited data source beyond Google Analytics

  • Customize the baseline offer

  • Ease of use for data warehouse management to customize infrastructure and gain data visibility

  • Get additional support through professional service team offerings or customer success

Magento BI Essentials

Magento BI Essentials also offers access to five dashboards consisting of approx. 75 reports at a cost-effective rate. These are all best in class analyzes.

  • Understand the daily performance of your store in terms of revenue, top customers and AOV

  • Drill deep into performing categories and customer segments

  • Easily collaborate with the team around data and share metrics with key stakeholders

  • Get an overview of repeat revenue and customer loyalty