Magento Commerce is bringing business intelligence (BI) to the ecommerce masses.
The digital commerce powerhouse announced new "out-of-the-box" BI capabilities that will enable companies to connect their commerce and revenue performance.
Magento's new Business Intelligence for B2B offerings provide new reports, dashboards and data analytics designed specifically for the needs of B2B merchants, adding another layer of functionality to what is an already powerful reporting system.
Merchants on Magento will now be able to evaluate customer health through a snapshot of customer lifetime value, time since last order and credit balance data, and track quoted performance with reports that show conversion rates, average discounts and median negotiation team. The new BI offering will also help sellers understand the performance of their sales team with metrics including quote to order rates, median time to close and unfilled quotes.
"The perennial challenge for any company is to quickly and efficiently extract actionable insights from their data. Complex integration requirements, the result of high volumes of data that span commerce, sales, marketing, finance, customer interactions, and other sources, have left many B2B companies behind the curve," said Bob Moore, head of Magento Business Intelligence.
"Magento Business Intelligence for B2B closes the gap and empowers branded manufacturers and distributors with the insights they need to deliver great customer experiences and drive business growth."
Digital marketing executive with proven experience in all aspects of search engine optimization (SEO), performance-based advertising, consumer-generated/social media, email marketing, lead generation, Web design, usability, and analytics. - 20-year Internet marketing veteran, currently serving as the Digital Marketing Campaign Manager at Antenna Group (formerly Chicago Digital). - Former Editor-In-Chief of Website Magazine, and a regular speaker on Web technology digital marketing strategy - Author of several books on digital marketing Including Web 360: The Fundamentals of Web Success; Affiliate 360: The Fundamentals of Performance Marketing; Domains 360: The Fundamentals of Buying & Selling Domain Names, and SEO 360: The Fundamentals of Search Engine Optimization.