April 19th, 2018 | Updated on December 17th, 2020
E-commerce is business after all, and it is therefore quite natural that like any other businesses, its success depends on how well it can utilize the inputs from Business Intelligence. We have been hearing about BI or Business Intelligence from the times the days of monopoly in business ended.
As business competition grew intense, it became more important to acquire critical information about the industry, market, customers and business performance to work out cutting-edge marketing strategies.
Companies began relying on the Business Intelligence to gather valuable insights about the business scenario, which they could analyze to take important business decisions that could become game changers. Naturally, the bulk of information flowing from Business Intelligence revolves around competition and customers that are the true movers and shakers of business. However, Business Intelligence spreads its net across the broad spectrum of business functions without any discrimination, and it is up to the owners to choose information that impacts their decisions.
1. Business Intelligence for E-commerce
Business Intelligence as applied to E-commerce is much different from the traditional human-based Business Intelligence that we all knew.
The technological and digital revolution that has swept across industries has considerably influenced the architecture of Business Intelligence about E-commerce.
The computer and the internet together with the mobile devices have added muscles to BI, which has become capable of handling huge data.
The enormous volume of data that business generates is beyond the human capacity to manage and for handling such huge information; you need computers and other technological tools to aid Business Intelligence.
It is now possible to access a lot of information for free or at minimal cost that you can analyze with the help of computers.
Going ahead, the computers can make the Business Intelligence system create programs that aid supply chain management. The software can fix re-ordering levels and even shoot out orders for procurement.
2. Do not confuse SEO with Business Intelligence
Both SEO and Business Intelligence are integral to E-Commerce, but there is a tendency that some people often use the terms interchangeably, which is not correct.
In fact, SEO and Business Intelligence are two completely different modules that have no common interface with one another but are equally crucial for E-commerce business.
However, for setting up an effective SEO campaign, you have to depend on Business Intelligence related to it.
Business Intelligence provides information that is useful for driving the business from a commercial perspective while SEO deals with implementation of the business strategies in the digital sphere for realizing the business goals.
Both SEO and Business Intelligence drive the E-commerce business, and you cannot afford to over-emphasize one over the other.
3. Business Intelligence can provide answers
When running a business, whether it is a brick and mortar store or E-commerce platform, the primary business considerations and goals are most common.
Business Intelligence can effectively provide answers to several questions that you might come across. By looking at the answers available from BI, it would be easy to understand how to apply BI for E-commerce business.
From marketing plan to advertising to navigation and customer loyalty, the Business Intelligence can provide answers to your queries. It can also reply to the questions that arise about SEO concerning keywords, PPC, and social media marketing.
4. Judge the efficacy of the marketing plan
If you depend on affiliate marketing, you would know from the data available from Business Intelligence about how affiliates are performing and which affiliates are providing good returns. The price sensitiveness of customers would also become clear from the BI data.
5. Augment the advertising campaign
To make the advertisement campaign more effective and to keep a tab on spending on advertisements, you can seek answers from BI. You come to know which advertisement drives the most traffic, which creates higher conversion and which advertisement contribute to maximum sales. Based on the answers, you can optimize the campaign to increase its effectiveness.
6. Gauge the effectiveness of navigation
By using the information available from business intelligence, you can figure out the elements that users mostly use during navigation and identify the elements that come least into use.
Whether the navigation and search boxes are driving visitors to the desired pages would become clear from BI inputs. The high and low points of navigation would tell you about how to make it more user-friendly.
7. SEO strategies and keywords
The effectiveness of keyword research becomes clear from the BI inputs as you come to know how much use the keyword research tools that you picked from keywordinspector.com has helped to give more teeth to SEO. The SEO strategies that give rich dividends, as well as those that perform below par, become clear from the BI data.
The E-commerce business strategy thus revolves around Business Intelligence that provides vital information about business performance.
About the author: Julia Martin started her career with keywordinspector.com, a company that specializes in keyword research tools for E-commerce. Later on, she moved towards content marketing, which she continues. A mother of two beautiful children, she loves to spend time with her family.