In the present competitive time, it is necessary to keep innovating the new ways to sustain and grow online. To excel in the industry, businesses need business intelligence to analyze the top customers, products and much more. Data analysis also plays a crucial part in the success of a business as it enables them to make data-driven and better-informed decisions.
But, many businesses often are not sure of the KPI’s to be used to take the business to a new level. In a company, every team uses different data and does analysis and here, Magento has come to the rescue with its Business Intelligence tool.
What is Magento Business Intelligence Essential tool?
Magento’s Business Intelligence tool is a cloud-hosted analytics platform that easily gets integrated with Magento 1 and 2 stores. Magento’s Business Intelligence Essential tool combines the data from the Magento store with data from other platforms like Google Analytics, Zendesk, Facebook Ads, NetSuite etc. to deliver valuable insights to improve the overall functioning and sales.
The tool provides consistency across the businesses using it without missing on the important details and gives an opportunity to maximize the results. It enables its users to gain data-driven and business- building insights from the transactional data even without the help of data scientists or SQL experts.
Magento Business Intelligence Essentials for the businesses
Let’s take a look at what exactly Magento Business Intelligence Essential has in store for the businesses:
– Executive Overview
– Product analysis
– Sales/ Orders
– Customer Activities
– Customer Retention
These are the best Magento Business Intelligence Essentials which are available for the businesses to have a deep insight into the data. The data provided by the tool carries the answers to all the common yet important questions like what is the monthly growth? Who are loyal customers? What is the result of promoting strategy? Which products are frequently bought? And much more.
Benefits of Magento Business Intelligence Essential
Here are a few benefits that Magento BI Essential has it for the businesses:
• Advanced analysis
Magento BI Essentials performs all the analysis based on proven informational models. The numbers obtained after analyzing the data gives the details of what is working in favor of the company and what is not. Not only this it highlights the products which are most commonly bought, customer loyalty etc.
• Time Saver
Magento BI Essentials comes with automated features which save a lot of time in performing various tasks. It allows the customers to generate the reports for the first time and then, the report gets upgraded itself and saves the time of the customers. It also presents the data in informative ways which again saves a lot of time of the employees leveraging them to focus on other important things.
• Magento Reporting tools
Magento BI Essential provides comprehensive reporting tools which provide indisputable facts based on the company’s data. All the essential key performance indicators are at the customer’s fingertips. Unlimited reports can be generated within no time, saving a lot of time of the employees.
• Efficient B2B features
Magento BI Essentials has distinctive features for B2B. Data-driven dashboards, multi-tier data analytics, and interactive consoles etc. benefit the B2B merchants in many ways. Such features cater to the specific needs of the B2B merchants and help them optimize the business and grow it.
These are just a few of the many benefits that Magento Business Intelligence Essentials has for the businesses. It has definitely helped many businesses to grow to newer heights and expand the business.
Magento Business Intelligence is available in two editions: Magento BI Essentials and Magento BI Pro. The enterprises can select the version according to their needs and budget. Let’s dive in a little to find out the difference between both:
• Business Intelligence Essential:
This edition of BI is perfect for the companies looking to grow. It starts at $100/ month and gives the users access to 100 detailed performance reports. It includes specific dashboards for B2B merchants.
• Business Intelligence Pro:
This edition of BI is for the companies looking to unlock enterprise commerce opportunities. This edition pulls out data from a CRM database, consolidates data from third-party sources and provides live access support to its users. Magento BI Pro is fully customizable.
Below is the detailed comparison between both the editions of Magento Business Intelligence tool:
Magento Business Intelligence allows the companies to make faster and data-driven decisions without even a team of experts onboard. It helps businesses analyze the details benefitting the company and make changes accordingly to expand and to stand out from the rest.