E-commerce is easily one of the most well-regarded and sought-after inventions of our time. It has, after all, completely changed how we shop for most things, from daily essentials to furniture, apparel, and so much more — e-commerce has enabled it all. And given such benefits, including instant access to a broader set of the target audience, it comes as no surprise that more and more companies are inclined to adopt it. And what does the presence of many companies in one industry tell you? That the competition is intense, but in the context of e-commerce, describing the game as cut-throat would be not only fair but also apt. So how can companies operating in this space deal with such levels of competition and ensure continued success? With help from technology, of course.
Now, there are plenty of technology solutions that can help an e-commerce business navigate its way around the competition. However, there’s one name in particular that has found quite the favor in the e-commerce market: Magento’s eCommerce Business Intelligence tool. Magento is already a celebrated name when it comes to platforms upon which one can set up their eCommerce store, so there is already a bit of trust in its BI offering as well. But when you go through its many features and the potential, they offer to transform your business for the better, and you are then able to see why it is such a popular offering in the market. Be it cloud-based operations, keeping an eye on customers, analyzing data, generating reports, and more — Magento BI has got it all covered.
To help you better understand how Magento BI can benefit eCommerce businesses, we have listed some key advantages below.
1. B2B features: Magento Business Intelligence comes loaded with a plethora of features primarily meant for B2B businesses. It includes centralized, data-based dashboards and in-depth data analytics and reports, among other things — these features can successfully tend to the distinctive requirements of B2B e-commerce business owners. All these features, together, help B2B merchants streamline their operations and drive fast-paced growth.
2. Avant-garde analytics: Magento Business Intelligence’s name itself is a dead giveaway of some of the features that it offers, such as modern analytics. Running a business is no mean feat and requires expert insights to ensure optimal operations. The tool helps e-commerce merchants make proper use of the abundance of data they gather and glean vital insights that drive smart, data-based decisions in the best interest of the business.
3. Reporting: It is one thing to be able to derive insights based on all the data a business gathers across its operations, and it is an entirely different thing to be able to make sense of it. Yep, one can not merely take the insights generated by the system and put them to use; nope, first, you need to translate it into “English,” i.e., formats that people can understand. So, Magento BI also comes loaded with ace reporting tools that convert the insights and information into graphs, charts, and more to ensure that all the decision-makers in the business have requisite data in easily comprehensible formats at their disposal.
4. Save precious time: Besides helping e-commerce businesses make sense of their data, Magento BI also helps them save time. Time is, of course, a precious commodity, and everyone can do with saving some time. So, for that, Magento BI automates a large variety of tasks that do not necessitate the involvement of human beings.
Given the many potential benefits of Magento BI, such as the ones listed above, it is easy to see that this tool is the perfect fit for any B2B e-commerce company. So, if you too want to take your business to the next level, might we suggest getting in touch with a reliable Magento design and development company ASAP!