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General concepts
What is Ecommerce Analytics
Ecommerce itself is a very broad term. Adding the even broader term "Analytics" can make it more vague. To avoid this, let's define "Ecommerce" first, then define "Analytics." After that, we will be able to explain and describe the term "Ecommerce analytics" more precisely.
Ecommerce - sets of methods, processes, and technologies used to distribute information about goods or services to internet users, typically including detailed product descriptions, images, and other relevant information within product listings in sake to sell goods or services.
Analytics - a range of statistical methods, tools, and techniques used to scope out and interpret data, with the goal of extracting valuable insights.
Fusion "Ecommerce Analytics" is the application of statistical methods, tools, and techniques to analyse data generated by online commercial activities (the distribution of information about goods or services to internet users and the resulting transactions) to assess performance in sales.
What Are Ecommerce Analytics Requirements
In the foundation of any analytics lies data; in Ecommerce Analytics, this is digital data. To obtain comprehensive information and decrease the chance of making incorrect decisions due to limited data or bias, requirements are:
- Accessing data in various formats from multiple sources (which may be inconsistent and difficult to extract) requires careful consideration of subsequent unification, transformation, and analysis to ensure data integrity and accurate insights.
- Should leverage widely adopted and well-established tools and techniques for data processing, ensuring maintainability, interoperability, and access to a broad talent pool.
- Must be scalable to accommodate growth in data volume, data ingestion rates, user base, and the number of personnel involved in development, maintenance, and operations.
- Should be flexible and adaptable to accommodate non-standard data requests and evolving business needs.
- Should provide timely responses to typical data queries and requests, meeting defined performance SLAs (Service Level Agreements) where applicable.