The use of information to influence the strategy of an e-commerce is a practice that has been improved, but that until then companies had only minimally explored.
With the support of Business Intelligence technology solutions and analytics platforms, the work has deepened and data reading has become more assertive and brings higher quality information to the strategy of these e-commerces.
Currently, business intelligence is essential for the success of innovative e-commerces that invest positively in assertive strategies.
In this article we will talk about what is business intelligence and how its use can increase the capacity of your virtual store.
What is business intelligence in e-commerce?
Business Intelligence is a technological area that works with the use of data to analyze situations, monitor results, optimize and make strategic decisions in e-commerce.
In addition, BI (business intelligence) combines business analysis, Data mining, data visualization through data tools/infrastructure and best practices to help an e-commerce and make data-driven decisions.
In practice, you know that business intelligence is being used correctly in your e-commerce operation when you have a comprehensive view of your operation's data and use this data to generate positive changes and adapt quickly to the changes and needs of your consumer.
Advantages of using Business Intelligence in e-commerce
Business Intelligence is a strong ally in transforming a high volume of information into competitive advantages for your e-commerce business. The software eliminates bottlenecks in processes normally executed manually, such as information records, duplicated or outdated data.
All this monitored data serves as metrics and reliable indicators about consumer behavior, you can understand seasonal periods of low and high purchase volume, products of greatest interest, reasons for cart abandonment and many other essential data for a sales strategy. Among the advantages of using Business Intelligence are:
- Support in decision making;
- Competitive advantage in the market;
- Improvement in internal processes;
- Data on consumer behavior;
- Identification of new opportunities;
- Increased profitability;
- Prevention of failures.
Thus, business intelligence can increase the capacity of your virtual store, because it helps in decision making by allowing you to compare data and analyze scenarios more efficiently. With this increased perception through data, your e-commerce can have more competitive advantage in the market, since it knows your customer better.
In addition, it becomes easier to identify new opportunities within your audience, since data on consumer behavior is more perceptible, generating increased profitability and preventing failures in internal processes.
Did you like to know a little bit about how Business Intelligence can boost your e-commerce? Continue reading about more e-commerce trends in our e-book "Trends for e-commerce in 2022".