A whole new league of data science in Sprinkle - The radical effects on eCommerce business
E-commerce is one of the most fast growing trends all around the world, a platform that goes through constant shift in paradigms every now and then. This constant shift is a resultant of the changing likes and preferences of customers and the growing demand for certain products. However, the online websites are the ones who find it hard to adapt to these changing trends.
This lack of awareness in the updating trend is due to the lack of proper tool/software that gives sizable analytics on your business’s marketing funnel. Business owners are unable to read where their business fairs well and where it doesn’t which extensively affects the business’s growth.
This is where Sprinkle comes into play, a tool that gives you top-down insights and analytics on every aspect of your business.
Why analytics play a major role in the eCommerce sector
Analytics are spot on! It’s clear, it shows, and moreover it doesn’t sugarcoat. The thing with insights is that it’s about figuring what’s best for you and your business. Say you are a small eCommerce business owner and you want to scale your business, it’s certain that you cannot invest a lump sum at once, not without figuring the strategical approach for your business. First you need to lay a blueprint to understand where you thrive and where you don’t, it’s as simple as that.
At Sprinkle, we built a tool which gives complete end to end analytics for your business. Having the complete set of statistics and data gives you and your business a sense of expertise across the fields, it lets you take personalized decisions for different regions of your business instead of “One size fits all” approach.
When it comes to the eCommerce sector, there’s a constant need to adapt to the changing technology. The sooner you identify the loopholes in your business the sooner you will be able to sort the issues.
With all this being said, it’s practically impossible to get deep insights or statistics on your business without having a specialized tool.
Look where it matters
The analytics tool is used to find the number of leads a business drives, from which the number of converted or abandoned leads are also found. It has become a trend to focus on the analytics lately but most businesses focus on the data that doesn’t come of any use to their business. It’s cool to have a large number of audience but it matters the least when it comes to an eCommerce website.
An eCommerce site could have, say, 2000 visitors per day of which 20 customers purchase a product, and in another scenario where a website has 1000 visitors per day and 15 customers purchase a product. Businesses fail to understand that a large number of leads doesn’t mean the business is doing good. If your business gets a good traffic but experiences a poor conversion, then there’s an issue with what the customers see on your website. If your business gets an average traffic but a pretty good conversion rate, then the website needs to be optimized to get a better visibility.
At Sprinkle, the product we built comes of great use in the eCommerce industry. Say, it gives deep insights on
- The source through which the leads are generated like, search, campaign, referral or direct.
- The steady flow of goods with respect to the demand to avoid bottleneck.
- The integration of multiple touchpoints in order to provide the customers a seamless omnichannel experience.
- The website’s heatmap provides an in depth understanding on the click density of products.
- Observing the customer’s step by step to understand at which phase of the purchase they bail out.
How Sprinkle works
Sprinkle allows you to get a whole bigger picture by ingesting your business’s data. This is carried out with the minimal of command scripts.
The tool lets you ingest data from various formats and sources like db, csv, etc. The various formats through which the data is ingested are brought under one common database structure called “Flows”.
Normally the ingestion process consumes time as per the volume of the business data. Bigger the size of the data longer it takes to ingest. To overcome this, Sprinkle’s incremental ingestion process ingests every now and then so it doesn’t consume much time at once.
Flows are followed by building Cubes which gives a three facet accessibility, say, Dimensions, Measurements and Date Dimensions. These three cubes can be further classified and insights can be obtained in the form of segments.
After the complete ingestion process, analytics can be seen in terms of google-like searches in the dashboard. The searches queries can be put forth with respect to Dimensions, Date Dimension and Measurements.
There’s a famous saying, “Direction is more important than speed.” Well, that proves to be fitting for the eCommerce business. These businesses have disorganized business approach where there are invaluable tracks maintained on demand, supply and ROI. These invaluable records happens to be highly misleading and doesn’t allow you to be flexible.
Lack of flexibility in the eCommerce industry means not being able to meet the customer’s changing needs and this paves way to nothing but decline. A proper analytics tool plays a pivotal role in your business, they provide leverage for your business by giving insights on your business’s loopholes and the changing trends.