How to Predict Business Growth through Magento?

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How to Predict Business Growth through Magento?
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• Businesses around the world are desperately
  searching for tools that can feed them actionable
  intelligence to drive profitable business action.
  Businesses are not able to predict their sales
  accurately, due to which they end up with either
  slack or surplus inventory. Erroneous growth
  prediction can lead to issues like surplus
  investment in a new facility, extra manpower,
  additional stock, etc. What if there was a way
  through which we can predict business growth?
  Online stores using Magento are entitled to a
  free Magento Business Intelligence Essentials
  account, which can provide insights about your
  business. This article is prepared by Nevina
  Infotech to give a brief idea about the Business
  Intelligence platform of Magento.

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What exactly is Magento Business Intelligence?
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• Magento Business Intelligence is a cloud-based
  data analytics and visualization platform. It
  consolidates data from all the external databases
  apart from the internal Magento database to
  present business insights in a visually appealing
  format. It can pull data directly from
  third-party sources like Google AdWords, or
  Salesforce, which saves a lot of time and effort
  in inputting the data. It provides actionable
  intelligence by providing more than a hundred
  reports on various facets of the business. These
  reports can provide inputs like year-on-year
  growth, loyal customers, customer lifetime value,
  average order size, most profitable channel, and
  campaign impact analysis. Businesses can hire
  magento developer online to integrate Magento
  Business Intelligence with their Magento store.

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What Magneto Business Intelligence does?
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• It provides a cloud-based data storage facility
  to combine data from multiple data sources. It
  acts as a data warehouse that can be accessed
  from anywhere anytime on the go. It supports up
  to five dashboards for individual data sources.
  The interactive dashboards include options like
  Marketing ROI, Merchandising Analysis, Cohort
  Analysis, Customer Segmentation, etc. The
  platform organizes the data in simple and elegant
  tables with the drill-down facility. The
  automatic process spares you from the extraction
  and analysis of data and lets you focus on the
  action part.

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• It provides detailed summary reports directly to
  users via email. Apart from this, it can generate
  several interesting reports like a report to
  identify the sub-segments of customer segments
  for micro-targeting in profitable ways. It can
  predict a new purchase by an existing customer
  through the Predictive Buy Date report. It can
  predict the target segment by the Predictive
  Customer Value report. It can also be used to
  track business goals set from time to time.
  Businesses can provide them with an option of
  ad-hoc reports if they hire magento developer to
  customize the platform. Businesses can analyze
  consumer behavior, reduce churn rate, or generate
  periodic reports with the help of this tool.

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Who gets benefited from Magento Business
Intelligence?
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• All the stakeholders of the business are
  benefited from Magento Business Intelligence as
  it speeds up the decision -making the process by
  providing answers to all the questions.
  Irrespective of the users role, it is a potent
  analytical tool that gives intelligent insight
  into consumers. The product managers use Magento
  Business Intelligence for consumer behaviour
  analysis that can drive product adoption. It can
  reveal the customer lifetime value, which aids in
  identifying loyal clientele. It can analyze
  products and vendors to expand the clientele base
  and increase sales. The top management can
  identify long term strategies by studying the
  insights provided by the Magento Business
  Intelligence tool. The platform can be
  customized for businesses functioning in a
  specific country like India if they hire magento
  developer in india to give insights into the
  local consumers mindset.

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Do Businesses need Magento Business Intelligence
Essentials or Pro?
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• There are two editions of Magento Business
  Intelligence viz. Essentials and Pro. The
  Essentials version is provided to Magento
  customers at no additional costs with certain
  limitations. However, Magento Business
  Intelligence Pro is the limitless version of
  Essentials. The table below compares the features
  of both these versions of Magento Business
  Intelligence.

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• Businesses need to make crucial decisions based
  on data analysis. Small and Medium Enterprises
  might prefer Magento Business Intelligence
  Essentials during the early days of their
  business to make faster decisions. Once their
  business expands, they can upgrade to Magento
  Business Intelligence Pro. It offers them
  additional handy features helping them to scale
  new heights. However, while migrating from
  Essentials to Pro, it is advised that you hire
  best magento developer only to avoid data
  inconsistencies.

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The Bottomline
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• Businesses are continuously looking for ways to
  eliminate guesswork and availability of on-demand
  information at a rapid pace. Magento Business
  Intelligence is the solution to all their
  business woes. It can reduce risks by providing
  you with detailed insights about the business. It
  enhances efficiency by providing insights about
  the flaws in the sales funnel. It can access the
  effectiveness of a promotional campaign. Magento
  Business Intelligence is a necessary tool to
  succeed in todays competitive world.

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Contact Us

• Name- Rahim Makhani
• Website- https//www.nevinainfotech.com
• E-mail Address- rahim_at_nevinainfotech.com
• Contact Person- Rahim Makhani
• Mobile Number- 91 7572970470

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• THANK YOU