When it comes to ecommerce, retail savvy is no longer enough. You also need business intelligence. Learn how BI can transform your raw data into actionable insights.
When it comes to ecommerce, retail savvy is no longer enough. You also need business intelligence (BI for short). Basically, BI takes all of the raw data generated by your ecommerce enterprise, analyzes and digests it, then spits out the information you need to make better, more informed decisions.
According to a study by Nucleus Research, for every $1 a company spends on BI, it makes $10.66. That's an ROI of more than 1000%! Furthermore, companies that make extensive use of customer data analytics see 126% profit improvement compared to companies that don't use BI.
A dashboard serves as Information Central, displaying and managing essential metrics such as key performance indicators (KPIs) and other relevant data points.
Create dynamic, real-time data reports on an as-needed basis to answer specific business questions.
Break down your customer base into groups with similar characteristics to understand trends and patterns over time.
BI software can help you predict churn and even suggest ways to combat it. Typically, 3%-5% is considered a "good" churn rate.
PayHelm is here to handle your business needs with its user friendly reports. Your marketing team, accounting team and leadership team will all love being on the same page.
This powerful feature expands your analytical capabilities, allowing you to create custom metrics that align perfectly with your business objectives.
Access this feature through the Analytics section of your PayHelm dashboard. Our intuitive interface makes it easy to create and deploy custom calculations.
Connect these platforms with PayHelm to get unified analytics and insights
