Tough Decisions That Must Be Made In Ecommerce

In the world of eCommerce, there’s barely any room to make mistakes. Sure, there is a lot of trial and error involved, but even so, the errors cannot be too significant. Upon launch of your business, all moves must be strategic. In order for that to take place, it’s important for you to understand what it is that would drive your customers to not only make purchases, but also keep them coming back for more.

Luckily for all of us, it’s relatively simply to gather basic business intelligence insights that help lay out stories about your customers, where they are, and where they are coming from.  Each step along the customer journey helps uncover that information- every click, view, purchase, download- everything. It is up to you to be able to connect the dots that will help make sense of it all.

This is where tough decisions come in that must be made in eCommerce.

  • Expand beyond basic KPIs by defining your goals and deciding on an analytics solution.Do you want to find out which type of customers are interested about which type of product? How about the types of customers that are bringing in the most revenue? How about the items that customers tend to drop from their shopping carts? If so, start looking for a business intelligence solution that facilitates the collection, enrichment, and analysis of all your data. All patterns would need to be identified in real-time, so you can made quick adjustments as needed.
  • Research the solution that works for you.In early stages, many business owners often get tempted to build an analytics solution in-house, however, that’s not the efficient way to go because a great deal of time, money, and resources will go down the drain in building the product. You are better off investing in an established product earlier on, so you can jump straight into analyzing data to better understand your customers.
  • Implement the solution as early as possibleThe sooner you are able to begin leverating insights, the sooner you can implement the product changes that are necessary to optimize the user experience and prepare you for growth. Understanding the customer journey lies at the core of your business. Now is the time to gain a comprehensive understanding of your customers behavior, so you can achieve rapid growth.

Ofer Fryman

Ofer is the CEO and one of the co-founders of Syte. He brings in 22 years of expertise in machine learning and deep learning.

Latest Posts

Syte Selected as Finalist for Drapers Awards 2019!

Syte is excited to announce that we have been shortlisted for the 2019 Drapers Awards for Best Innovation in Fashion Retail. The Drapers Awards recognizes…

Read More

3 Secrets Top Retailers Use to Monetize Social Media with Visual Search

From a small personal space for people to interact online, social media evolved into a powerful platform that not only commands attention and engagement but…

Read More

These 3 Retailers Have Nailed Personalization. Here’s How.

Personalization has been a staple buzzword in the past few years with many retailers realizing its importance as shoppers look beyond products and prices when…

Read More

Syte Raises Series B Round of Funding to Expand Visual AI Adoption of More Retailers Worldwide

Today, we’re happy to share that Syte raised $21.5 million in Series B Funding. Viola Ventures lead the investment, alongside high-profile investors Storm Ventures, Commerce Ventures, Axess Ventures, and Lyra Ventures. The total funding to date is $30 million.

Read More
More Blog Posts >>


Schedule Demo