Last Updated on January 21, 2022
In the global business market, the ecommerce market plays a vital role. The total of the ecommerce market globally stands for nearly 22.1 trillion dollars. China is the biggest ecommerce market in the world, both in sales and the number of online shoppers, followed by the US and Japan. With so much competition in ecommerce, you are required to always take the best business decision which would be fruitful for your business and can result in more sales and less internal costs. And for taking better decisions, you require ecommerce analytics.
On ecommerce, you get a tremendous amount of data and information that you need to synthesize. When the data is utilized properly you get the best results. But how we can utilize and synthesize the data for making better decisions? This is where ecommerce analytics software comes into play.
The ecommerce analytic tools can use your data in the simplest manner and come up with easy to understand charts, visual graphics, and other formats, by which you can make new strategies for your business. These tools can show the real-time stats of bouncing rate, users revisit histories, and users’ behavior analysis on your ecommerce store.
Here are some facts that you should know about your ecommerce site data:
- Less than 0.6% of all the data we acquire is never utilized effortlessly.
- Just a 12% increase in data accessibility can increase business revenue 5 times faster.
- The data analytics tool is not fully automated, your data scientists team need to clean some data manually.
Getting traffic is not enough for increasing your business. You need to convert the incoming customers are your loyal patrons. Yes, you can convert the visitors into long-time customers by using the data ecommerce analytics software. In this article, you will learn how to choose the best ecommerce analytic software and the list of best analytic tools. Let’s begin…
Features of a reliable and worthy Ecommerce analytic software
You are required to find a tool which solely meets all your business objectives and fulfill your requirements. To choose the best tool, you firstly need to know what are your core objectives and desired outcomes. Better to start with a list by which you can choose the tool with ease.
2. Simple User Interface
The interface of the analytical tool should be easy to navigate i.e. your employee having basic technical knowledge should be able to easily use it, understand the data-driven results, and analytic reports. It should be appealing to facilitate a positive impact on the employee.
Also Read: How To Develop An eCommerce Website
3. Advanced Analytics
The analytic tool should be able to find hidden data patterns and trends in data. The results can be helpful for making better business decisions in the future. NLP is one of the best processes for finding quick responses to the queries. It can even you in eradicating the cost of a data scientist for your company.
4. Data Sources
In today’s cutting edge technology, the data is spread over every single activity whether it is the location of the user or the mouse dragging area of the user. The data is collected in different formats of tables, images, videos, etc. The ecommerce software analytical tool should be capable of gathering data from multiple sources and then structuring them in useful representations.
5. Large-Scale Implementations
Growth in the business is the ultimate goal of any corporation. For running your business effectively and better growth, you need to be sure that your chosen should support large-scale implementation.
Best Analytics Tool for eCommerce Stores
Since there is a vast number of analytic tools available in the market, we have chosen best for you, that you can opt without any hesitation.
You must have heard of the big-name Google Analytics. It offers different services such as collecting, configuring, and analyzing the data properly. It was founded in 2005.
Here are some of its features:
- Audience reports
- Conversion reports
- Site speed, search, and flow report
- Acquisition reports
- Shopping and checkout funnels
- Real-time reporting
- Audience and Strategies marketing reports
- Transactions activities reports
Some of the biggest customers of Google Analytics tools are Twitter, European Central Bank, NASA, UNICEF, etc. Its analytics is completely free, however, for the advanced analytics 360, you need to go through different plans for pricing.
Backed by another big name, Adobe Marketing Cloud is launched in 2012. It can provide you best-integrated approaches that bring all ecommerce tactics at a single place, from where you can manage everything from content, e-mail campaigns to ads. Here are some of its features:
- Data-Flow Analysis Report
- Data Visualization and customizable graphs and reports
- Audience & advertising analytic reports
- A/B Testing
- Segmentation IQ
- Social Insights
- Advanced metrics
It can collect data from many different sources, monitor customer clicks, time, cost, and other preferences. It can also monitor the traffic on your site from search results and ad campaigns. To know the pricing plan, you need to contact the sales team. Some of its biggest clients are Nissan, Airbus, London Heathrow Airport, Renault, etc.
After the big names, Hotjar is the best ecommerce analytical tool for providing a fast and visual way for understanding your users’ activity, uncover insights, and can help in making the right changes. Its core features are:
- Visitor Recordings
- Conversion Funnels
- Form analysis
- Feedback Polls
It can improve your site performance through analytic and feedback tools. It comes with innovative screen recording functionality and tracks the performance of feedback & surveys. Its major clients are HubSpot, Reed.co.uk, Invision, Homes.com, Despegar, etc. Its pricing plan is as per follows:
- 20,000 page views per day – $89/ month
- 50,000 page views per day – $189/ month
- 120,000 page views per day – $289/ month
- 400,000 page views per day – $189/ month
- For more, you need to take custom views
Also Read: How To Develop A Mobile App For eCommerce
Kissmetrics is a renowned analytical platform that comes with advanced product analytics, user-centric insights, and many others. It can help you a great product, services, at a great price. It was founded in 2008. Some of its key features are:
- Real-time data monitoring
- Funnel report
- A/B test report
- Cohort report
- Retention reports
- Customer profiles management
- Email support management
It gives powerful user insights, retention rates, deep data tracking, with full-proof guides. Its pricing starts with $250 per month with the basic version, its growth version is priced at $500 per month up to 50,000 people, and the power version with $850 per month, up to 250,000 people. Some of its clients are Lucid Charts, Unbounce, Send Grid, Mercy Corps.
Founded in 2012, Heap Analytics has a different standard for tracking customer data and capturing every web, mobile, and cloud interactions automatically. It retroactively analyzes data without writing any code. Some of its core features are:
- Dynamic Funnels
- Behavioral Chortling
- Heap Connect
- Brand Loyalty Solutions
- Custom Dashboards
- Dedicated account manager
- Solutions architect
It gives you faster & real-time insights, codes fewer operations, and advanced attribution. Some of its biggest clients are Microsoft, Sur la Table, The Atlantic, JBL, Casper, etc. It is free up to certain sessions and comes with custom pricing for Startup and Enterprise plans.
Matomo lay down its foot-prints back in 2007 with powerful web data analytics insights for your business. It gives you 100% data ownership and user privacy protection guarantee. Its key features are:
- Funnel reporting
- A/B Testing
- Heatmaps Conversion Optimization
- Fully Customizable
- Search & Marketing Campaign
- Form Analytics
- GDPR management
- High-Level Statistics
Matomo has a focused approach to identifying the required keywords and gives better traffic flow reports. Its major clients are the United Nations, Red Bull, Huawei, European Commission, etc. Its pricing is free for the On-premise version, while for the Essential plan it is 19€ per month, for the Business plan, it is 29€ per month, and for the Enterprise version, you will require a custom plan.
7. Crazy Egg
Founded in 2005, Crazy Egg is another top-notch web analytical tool that can improve the performance of your ecommerce store, find and fix the bugs, test new ideas, and ultimately make your website run fluently. Some of its core features are:
- Heatmap Reports
- Scroll map Reports
- Confetti Reports
- A/B Test Interface
- Content Marketing Deep Insights
It can record the entire user session. Some of its renowned clients are Dell, Yahoo, Wall Monkeys, Intuit, etc. Its Standard version pricing is $49 per month, Plus version pricing is $99 per month, while for the custom plan you need to contact the sales team.
Mixpanel advanced data analytic platform will help your business by converting, engaging, and retaining users on a regular basis. It will analyze user behavior across the site and mobile apps. It was founded in 2009. Here are some of its key features:
- Activity Dashboards
- Targeted Messaging Campaigns
- Customer Activity And Behavior Tracking Analysis
- Retention Funnel
- Signal Reports
It can understand the ratios of events and can increase marketing KPIs and customer loyalty. It will help you in driving more customers towards buying products and gives you a high ROI. Some of the major brands that use Mixpanel are Samsung, BMW, Starz, Expedia, and Hinge. Its Starter pack is free while you have to pay $779 per year for the Growth pack and the Enterprise pack comes at a custom price.
Metrilo came into existence in 2014 and has fabricated strong analytical impacts on others. You can take good confident business decisions with Metrilo. It increases customer engagement with your brand. Some of its key features are:
- Product Management Reports
- Funnel Report
- Customer Segment Analysis
- Monitor Customer Lifestyle
- Retention Analysis
- Automated E-mail marketing system
It can track revenue from new, as well as returning customers, and social channels. It can also give you performance reports by counting visitors, purchases, product abandoned rate, etc. It also shows real-time customers, successful orders, revenues, and products. Some of the major clients are WOW tea, CricksyDog, Viral Passion, Smoovall, etc. Its trial version is for 14 days and after that, you can either buy an Essential plan for $119 per month, Pro plan for $99 per month, and Premium plan for $299 per month.
Laying its feet in 2010, Custora is giving intense competition to the other data analytical tools. It helps you in taking control of customer acquisition, customer loyalty, and solves buyer’s problems of customers churn for boosting conversion rates. Its top features are:
- Natural Language Queries
- Lifecycle Segmentation & Reporting
- Marketing and Channeling Campaigns
- Dashboards & KPIs
- Cohort Analysis
- Churn Analysis
It can drive inclusive and insightful customer profiles with positive lift in email channeling. Its major clients are Crocs, Tiffany & Co, Kenneth Cole, Eloquii, Teleflora. For pricing, you need to contact the sales team.
Visual Web Optimizer was founded in 2009. It is highly good for accelerating your business growth by providing the best digital experience insights. Its core features are:
- A/B Testing
- Session Recordings
- Usability Reviews
- Form Analytics
- Cart Abandonment Campaigns
- Growth roadmaps
- Mobile App Testing
It can test the website fluctuation without coding and give you a vigorous real-time analysis of data. It is easy to integrate and comes with a simplistic engagement with UI. It can also solve blunders for cart abandonment and bounce rates. Some of its best clients are Robert Half, Showpo, Panduro, Adrianna Papell, etc. There are 5 versions of it with different pricing:
- Best value – $467/ month
- Most popular – $368/ month
- VWO Testing – $199/ month
- VWO Insights – $169/ month
- VWO Full-stack – $999/ month
- VWO Engage – $99/ month
Last but not least, Woopra is laser-focused real-time customer analytics founded in 2012. It gives you end-to-end customer journey analytics. It can directly answer your queries for a smart decision, and a fast, data-driven approach. The core features of it are:
- Journey reports
- Trends reports
- Cohort reports
- Retention reports
- Behavioral Segmentation
- Triggered Messaging
- Accounts Manager
It can provide fully automated insights and no SQL required. It gives you personalize the customer experience and customized tags for configuring reports. Some of their dedicated clients are Informatica, Duke University, Snapshot, Ticket Tailor, Hubba, etc. Its core version is free up to certain actions while the Pro version comes at $999 per month. For the Enterprise version, you need to consult the sales team.
Now you have a huge number of choices of the best analytical tools, having many similar features but yet different USPs. You can choose among them as per your requirement.
At Emizentech, we can give you the best ecommerce analytics services to give you better conversion rates. We can build ecommerce stores from scratch using your choice of data analytic tools.