What’s an E-Commerce Dashboard?

The most important information to learn about e-commerce dashboards include:

An e-commerce dashboard provides an interactive, real-time interface that tracks the most crucial metrics and KPIs for an e-commerce business.

eCommerce business dashboards can contain general information that can be used for a wide range of purposes or be tailored for the use of one person, team, or department.

The advantages of having an online-commerce dashboard include increased efficiency, speed of service and greater profits.

Rate of conversion, bounce abandonment rate for carts, the average order value, and lifetime value are among the most valuable metrics to monitor in an e-commerce-specific dashboard.

Dashboards for e-commerce rely upon businesses intelligence (BI) analytics, BI, and tools for data integration to provide the information that are crucial to decision-makers.

Selecting an e-commerce platform such as Shopify isn’t the only step to build your online company. To make smarter business decisions and improve your sales online and marketing efforts you’ll require data on the way your online store is doing.

This is exactly what an e-commerce dashboard was created to do. Through bringing all of the most important information and metrics under one roof, dashboards for e-commerce offer quick, essential insight into the performance of your business from sales statistics to email marketing campaigns.

But what exactly is an e-commerce-specific dashboard in addition to what’s the advantages of an e-commerce platform for your company? We’ll be able to answer these questions and many more in the following article.

What is the definition of an E-Commerce Dashboard?

A dashboard for e-commerce is an instant visual representation of the store’s most important indicators and metrics (key performances indicators). The goal of dashboards for e-commerce is to give a brief overview of the company’s financials in one glance. Alongside reports, dashboards are among of the most effective methods of business intelligence and analytics to aid managers and executives making decisions.

The content of an e-commerce dashboard can include charts, graphs tables, maps, gauges, as well as other data visualization techniques that allow users to quickly comprehend the data. E-commerce dashboards can be developed to be used by all employees of the business or for a specific usage. For instance, teams could design customized dashboards to track their sales or marketing performance.

The benefits of using an E-Commerce Dashboard

As you could see, there’s a lot of advantages of e-commerce dashboards for companies of any size. The benefits of having an e-commerce platform include:

Higher efficiency It is a better alternative to other methods of business intelligence such as spreadsheets and reports they are easily interpretable within a matter of seconds. Dashboards simplify the underlying data and transform them into visually appealing formats. You can only include the KPIs or metrics you consider to be most important to your business and place them in an enviable position on the dashboard to ensure that they remain in the forefront of the mind.

Time saved: Dashboards make the process of getting the e-commerce analytics. Instead of having to consult various sources of data (Shopify, Google Analytics, etc.).) to gain the information you require, the online-commerce dashboards provide all relevant data in one pane. In time, this will help users save time to focus on the most important things to them: understanding the results and making the right decisions.

Avoiding negative outcomes: A variety of aspects are involved in running an efficient e-commerce enterprise making sure that the site is operational, efficiently solving customers’ issues and questions and ensuring that products are in stock, and delivering orders in time, etc. Dashboards for e-commerce help you monitor the most relevant metrics for each of these aspects (e.g. the average response time to support or the level of stock for products that are popular) in order you can prevent negative results that affect customers’ satisfaction.

Profits that are higher by paying particular attention to the appropriate KPIs and metrics (more on this below) Your e-commerce company will be able to better comprehend the best ways to increase profits, both for your company as a whole and for the products you want to concentrate on.

What metrics should you consider using to build your E-Commerce Dashboard?

There are many KPIs and metrics that business managers can monitor on their dashboards for e-commerce, and there is no “one size that fits all” answer to what businesses should include in their dashboards. Here are some suggestions for the most important indicators that online retailers might want to track in their dashboard for e-commerce:

Ratio of Conversion: proportion of customers who visit your online store that conclude with the purchase being completed. The ability to optimize this rate of conversion is among the most crucial features of an online store dashboard.

Bounce rate: The proportion of people who leave your site immediately without visiting other pages. Bounce rate is an important KPI in the field of e-commerce since it is a way to determine how effective your website’s content is or whether your customers correspond to your target customer base.

Cart abandonment rate percent: The percentage of people who come to your online store who include an item into their cart, but go to another site without buying it. This metric can aid in determining the issue in your checkout process which prevents customers from buying.

AOV: Average Order Value (AOV) is the average value (in dollars or in another currencies) of orders that are placed by your customers who purchase from your online business. An increase in your AOV can be a great way to reduce the cost of getting new customers.

Value of a customer’s lifetime: the amount of revenue a customer can earn throughout the duration of the relationship with your business which includes subscriptions, purchases as well as other transactions. This measure helps you determine the advantages of focusing on retention and reducing churn, instead of trying to attract new customers.

E-commerce dashboards can be a effective tool to learn more about your company in an e-commerce dashboard. To have these data-driven insights available to you but you’ll need rapid, efficient data integration workflows to bring all the information to where it’s needed.

Are you ready to understand the advantages of dashboards to your business’s e-commerce? Contact our team of experts in data now to discuss your business objectives and needs