Reliable customer data is one of the most valuable assets of any eCommerce growth strategy. Tracking and analyzing your eCommerce movements and the way your customers interact with your website gives you incredibly rich information and, therefore, the power to grow constantly. That’s what we call Business Intelligence.
It has been studied that companies with CEOs that spearhead data-driven decisions are 77% more likely to achieve business goals (Deloitte, 2019). However, most companies still see the implementation of Business Intelligence (BI) tools as a challenge. Now, that is where we enter the scene.
How to grow your business with Business Intelligence
Our BI team helps our clients make the smartest decisions based on data and past results. But most importantly, they help companies deeply understand their data, its relevancy, and how to analyze it. “Running a business by intuition can be hard, not to say it can be dangerous to the company. Having a data-driven approach is vital to proper management and strategy optimization. For that, data and BI services are a must,” explains Cecilia Taibo, our BI Lead. She’s been a part of Tavano Team for almost 3 years. Her role involves determining requirements for tracking and reporting projects, handling Data Audits, Data Tracking Implementations, creating dashboards and reporting, and insight gathering for growth specialists and clients. One of her favorite things about her job is being able to help others do their jobs more efficiently by providing trustworthy data.
Iñaki joined the team as BI Analyst at the beginning of 2022. He explains that the BI team not only works with our external clients but also helps our own Growth specialists with helpful insights to improve decision-making and the performance of campaigns or other services. “We like to bring new ideas to the table from the data that we analyze, which can then spark new products or services to offer to our clients,” he says. “One success case from the team is that we created an RFM (recency, frequency, monetary) analysis that is super useful for Paid Media and Email Marketing, for example. They can target specific categories of customers, meaning that the money being spent on campaigns can target those higher-value customers. This analysis came from our end, and we did it using Python, which is a new tool that we have been experimenting with and has a huge potential for other products down the road,” added Iñaki.
Why should you try it?
We can say that BI has changed the game for our Growth team when it comes to staying creative and efficient at the same time. Now, why should you try it for YOUR eCommerce business?
“Data is the core of every growth strategy. By making sure we can trust that data and that it is relevant, we will be confident in analyzing and gathering insights to take actions towards reaching the end goal,” explains Cecilia. “Besides that, you can get creative and start thinking outside the box and using data to find new relationships between your actions and customers that you wouldn’t have realized otherwise. With this, the sky’s the limit regarding what you can understand of your business and how you can take advantage of insights,” adds Iñaki.
Contact our Business Intelligence team and take the next step to level up your business.
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