Data is the lifeblood of any e-commerce business. Whether you’re a legacy retailer, or a up-and-comer in the industry, you probably collect it in its droves, analyse it and use it to make better decisions when it comes to targeting and serving your customers. As such, you’ve probably got a significant list of tools in your tech stack that you’re using to make these decisions and action these insights.
As tech evolves alongside customer expectations, these tech stacks need to be updated frequently. Yet with so many data-driven tools for e-commerce on the market right now, how can you know which ones are going to be the most effective at helping you drive performance?
We take a look at 9 fantastic data-driven tools for e-commerce businesses looking to grow their business in 2020.
1. Google Analytics
How could we not kick off our list of data-driven tools with Google Analytics?
Google Analytics, founded in 2005, is helpful for just about any business that’s using data-driven practices today. It allows businesses to collate, configure and analyse data from across a range of datasets and properties to provide teams with a full vision of their digital metrics. It’s particularly helpful for e-commerce teams and digital marketers because it tracks user behaviour and allows you to see what sources they are coming from, thereby tracking the success of your campaigns and online store.
Google Analytics is a super handy data-driven tool for e-commerce, and fortunately our AI anomaly detection tool has an integration with Google Analytics which alerts users of anomalies in their Google Analytics in real-time, saving them a lot of time and resources searching for them manually.
Founded in 2013, Prisync helps e-commerce companies optimise their pricing strategy using automated data collection and smart suggestions. Its dynamic pricing engine allows users to easily define their product assortment, analyse any number of competitors’ pricing strategies and historical trends, and set dynamic pricing rules so they sell their stock at the best price possible. The engine gives users access to fresh pricing data 4 times a day to ensure that their pricing is always competitive.
Try a free 14-day trial of Prisync.
Inventory management solution, Veeqo, helps e-commerce companies sell their products and stay on top of orders across multiple e-commerce platforms. Founded in 2013, the platform gives teams ‘complete control over [their] whole inventory’ by integrating with a number of e-commerce platforms, including Amazon, Shopify and eBay – to name just a few – and updating available stock on all of a business’ stores when they make a sale.
They also allow you to control how much stock should be shown for every store, meaning your inventory level is always accurate.
A whopping 75% of buyers never return to an online shop again. Customer intelligence platform, Custora, are attempting to solve this problem by taking control of customer acquisition with a number of end-to-end solutions for increasing customer acquisition and conversion, while decreasing that dreaded churn rate.
Founded in 2011, the platform provides a clear view of individual customers, identifies the most valuable customer segments and journeys using predictive analytics and provides customised, prescriptive recommendations for enhancing customer lifetime value (CLV).
We’ve already established that data is crucial to smoothly running an online store. But that data still needs to be good, actionable data – which is where Segment steps in.
Founded in 2011, Segment helps users collect, unify and connect real time user data from across e-commerce business’ web and mobile apps to create a data toolkit for every team, from marketing to product, to engineering. With clean, actionable and connected data segmented for each team, companies can focus more clearly on seamlessly creating great user experiences with far fewer communication issues.
Many companies today are wasting valuable time, resources and manpower combing through data across excel spreadsheets and multiple dashboards to uncover the anomalies that are damaging their bottom line. AI anomaly detection startup, Millimetric, saves you time and money by analysing your digital performance data and detecting any anomalies, all in one easy-to-use platform.
Founded in 2018, the platform integrates with any dashboard, including Google Analytics, Google Ads and Facebook Ads, without the need for any coding. It then uses machine learning to comb through your digital channels’ recent and historical data 24/7 to identify any anomalies that appear in real time and alerts users straight away. With Millimetric’s platform, you can drill down into these hard-to-detect problems before they impact revenue, or clearly identify opportunities for improvement, so you can save time and money while your business grows.
Sign up for the free version of Millimetric to see the impact it has for your e-commerce business.
Founded in 2014, Hotjar helps teams understand how their users are really behaving on their site with a number of data-driven tools. These include heatmaps that visualise user engagement on your webpages, screen recordings of sessions and conversion funnels that help e-commerce teams understand what’s working across their website and content, and what needs to be changed.
Scurri are helping e-commerce businesses connect, optimise and simplify their online ordering, shipping and delivery. Founded in 2010, the company lets teams automate shipping with a powerful rules engine and analyse shipping and tracking data to identify opportunities for improvement in their delivery. Their platform integrates with a number of carriers and platforms, including DHL, UPS and the Royal Mail.
Understanding website users is one of the biggest pain points for e-commerce teams and Whoisvisiting, born in 2014, have created an engine for identifying website visitors, nurturing prospects and personalising user experiences using their data. They do this by providing businesses with real-time reports on potential leads and helping teams turn unknown visitors into leads. Whois integrates with just about every platform a e-commerce business in 2020 uses, from Hubspot, to Twitter, to Asana – and hundreds more.