Data Visualization is that light at the end of the tunnel, the pot of gold at the end of the e-commerce rainbow. Data visualization, ever since its introduction to the e-commerce industry, has maintained to be incredibly powerful.
With more people purchasing things online rather than walking into the traditional store, Data Visualization proves to be the most promising strategy to reinforce.
Role of Data Visualization in E-commerce Decision Making
A whopping 85% of Marketing managers and CEOs agree that data-driven decision-making using analytical tools helps implement successful product strategy.
As the main objective of any e-commerce industry is the commercial success of the business, technological inventions like Artificial Intelligence and Machine Learning have now made customers’ data accessible easily through Data Visualization tools.
With Data Visualization, marketers and entrepreneurs can get a clear picture of customer demographics, track customer engagement, and identify the touch points.
From numerous resources like surveys, forms, feedback ratings, games, and other media, the e-commerce industry now has a pool of cyclopean data in the form of gestures, numbers, likes, dislikes, etc.
Data Visualization comes with the opportunity to let marketers and e-commerce entrepreneurs compile these data points in simple, meaningful visuals such as dashboards, charts, graphs, tables, and so on.
Building E-commerce Analytics For Better Decision-Making
For best decision-making, it is imperative to turn data into information for gaining a competitive advantage. eCommerce Analytics using Data Visualization helps convert this big data into small insightful chunks of information which helps marketers and digital entrepreneurs to make faster, more accurate, and calculative decisions.
Trend identification to drive the pricing and promotion plan for an e-commerce company with data of 12 months – dispersed among various online and offline location sources including multiple Google Sheets and CRM databases.
Identifying customer trends is highly crucial for retailers and too much data over different media forms makes it challenging to figure out the relationship between pricing and promotion strategies.
Since the customers left information through multiple touchpoints before the transaction over 12 months, it is necessary to analyze these touchpoints (mainly pricing and promotional campaigns). Customer analytics will help the entrepreneur and e-commerce decision makers to deliver relevant promotional offers to the customers at every step of their buying journey.
Personalizing The Solution
Simplifying the data using Data Visualization makes everything instantly crystal clear for the best decision-making. Graphina is one of the gorgeous WordPress Charts and Graphs plugins built by our expert team and comes with pre-designed WordPress charts and graphs which can be tailored to daily decision-making for entrepreneurs.
Empower yourself and the team of decision-makers/leaders for your product/services with Data Visualization tools.