Each step in selling products on your Shopify store can be a tough journey, From selecting the right price for your products, designing a marketing strategy, and finally making use of analytics to identify any possible bottlenecks and take decisions to improve your store’s performance.
While considering analytics for your store Shopify’s own analytics tool can be useful and hence we will walk through its analytics options and the power of vizB’s analytical program to help you understand how you can use them to improve the way you measure your store’s success.
Regularly tracking valuable metrics from your store, will allow you to always have a reference on how your online store has performed and/ or how it will perform based on these metrics you can take decisions and design strategies to improve your store’s performance and add to your sales.
Shopify’s platform has its own analytical dashboard that allows you to closely monitor the number of store sessions you generate, total sales, average order value, and customer return rate which describes how many of your customers return to make an additional purchase.
As a store owner, this key information can help you make data-driven decisions. By considering just the analytical dashboard which gives you an overview of your store’s performance and assists to identify the elements that need further improvement. For example, If you observe that your store has a good customer return rate but your store’s average order value is still comparatively low, then you can consider attaching a Shopify plugin with your store that allows upselling other products.
If you notice that your customers keep returning to make the same purchases you can consider integrating a subscribe and save feature for your store.
Shopify analytics only provides access to its Overview dashboard and key financial reports for free hence if you require access to more reports you have to upgrade to a higher Shopify plan.
vizB is an analytical power tool for business intelligence. vizB will help you convert your Shopify store data into knowledge that can be inferred to make actionable decisions and help monitor your store’s overall performance. vizB can be seamlessly integrated with your Shopify store and instantly allowing you to obtain data-driven insights to make informed decisions to grow your business.
vizB’s Overview dashboard offers insightful information about your sales, the number of orders, and customer information in addition to the KPIs that will help your store stay on track.
vizB provides you with a range of informative charts, key metrics, and performs predictive analytics on your Shopify store data. Shopify describes key information that includes the sales generated, customer average value, customer segments, demand forecasting, product discount rates, report, and various other insightful knowledge for your store to make data-driven decisions.
With vizB, you can observe which products perform well, the demands for those products, and also segment users based on their purchase behavior. For example, you might want to market products or push promotions to your customers that are about to churn thereby reducing the churn rate of your store.
With your Shopify store is up and running and your analytics in place you can start looking at your Shopify data to make data-driven decisions and monitor your store’s performance which will help you immensely in the long run.