3 Reasons Why You Need To Get Your E-Commerce Data Under Control

Oct 10, 2019

Data unlocks many possibilities for the smart retailer. It can help you make more informed logistics decisions, drive customer loyalty and even help you save time and money on your customer service operations.

WBR Insights and Adverity recently put together a white paper on the state of data-driven decision making in e-commerce and marketing and we’d like to share some of their key findings. Additionally, we’ll show you how aggregating and standardizing disparate data can make drastic improvements in your logistics operations. 

1. Aggregating marketing and logistics data across multiple sources saves organizations much needed time and resources. 

“Only 14% of Heads of Marketing surveyed have a single data platform to aggregate disconnected data. The remainder is stuck using multiple free tools that come with each platform or plugging data into spreadsheets to try to decode it. This probably plays a part in explaining why decision-making is a drawn-out process for 60% of respondents”.

It’s crucial to have all your data in a single platform – that’s the first step you need to take in order to make sense of all the data. Once standardized, you have your ‘one source of truth’ that speeds up decision making, simplifies the process of analyzing data and reduces reporting friction to key stakeholders.

Takeaway: It’s important to make data-driven decisions but time and speed are of the essence. Investing in suitable software to help streamline data analysis within your organization will be of great value. In fact, decision-makers plan to increase their investment in analytics next year; with 28% of respondents earmarking improving their data ownership strategy as a ‘the most important priority’ in the next six months.

Did you know the same complexity could be said of logistics data? 

Consider these statistics on your logistics partners: 

  • If you handle international deliveries across multiple trade routes, you’ll be working with multiple logistics carriers. Each of these carriers delivers data in different formats and come in different languages.

  • Each carrier can cover up to 425 different events and over 3,500 different locations per carrier. 

2. Companies spend more than 10 hours a week preparing and updating reports for stakeholders 

Aggregating and making sense of multiple sources of data is one of the organization’s biggest challenges. 

“Instead of spending hours cobbling together the most important information from multiple tools and spreadsheets, marketers with access to a data aggregating platform can provide data quickly and accurately with all the relevant information in one place.”

Marketers and e-commerce managers today have a wealth of data sources to analyze and consider in their decision-making process. With multiple digital marketing channels in use – social media, display advertising, website analytics, and SEO, how do organizations turn all this data into actionable insights? 

The majority of the Heads of Marketing we surveyed source marketing data from at least six sources, and 13% use more than 15.

Takeaway: Aggregating analytics and data from multiple sources for reporting and analytical purposes can easily get overwhelming or take too much time. This issue also lies in logistics performance. Did you know companies spend more than 10 hours a week preparing and updating reports for stakeholders? 

If you spend multiple hours a week building reports, you aren’t alone. Perhaps it’s time to re-evaluate your data collection and analysis processes. Instead of spending all that time pulling together reports, why not allocate your time in more productive ventures like finding ways to further grow the business? 

3. Data flexibility is key in making sound, time-sensitive decisions.

In today’s business landscape, the number of key decisions that executives need to make in a shorter span of time has expanded significantly. How do I allocate my customer service manpower efficiently to cope with high traffic? Which ad creative should I use? How should I structure my product pages for the best visibility? 

Takeaway: Without sound data and the ability to draw out insights from data, you’ll be making decisions based only on opinion. Therefore, a flexible infrastructure and processes around data is key to make quick and well-informed business decisions – both in your e-commerce store and logistics processes. 

Having full transparency on your data and the ability to quickly pull reports together is essential for business performance.

All the above present a sound case for data-driven decisions in e-commerce, but we also urge retailers to apply this data mindset to your logistics and supply chain. 

Do you have transparency on your supply chain to understand which carriers are performing best during high-volume periods? Which trade routes are most affected by delivery issues and why? All these are questions that can be answered by data.

For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.

Share this with your network

Also worth your time

Follow us on LinkedIn
Stay connected with us

Track your parcel here

More discoveries

Funding Roundup: Major Wins for CleverTap, Locad, ReturnLogic and Others

Aug 12, 2022

PR Newswire: Purolator Transforms Transportation Sector With Its New Sortation Facility in Toronto

Aug 12, 2022

Alcott Global Podcast: Carbon Neutrality in a Shipping Company

Aug 11, 2022

FreightWaves: FedEx to Apply Peak Season Surcharges As Early As September

Aug 11, 2022

E-Commerce Logistics Race in Latin America: Which Country Performed the Best in H1 2022?

Aug 10, 2022

The Business Times: A.P. Moller - Maersk Purchases Martin Bencher Group for US$61M

Aug 10, 2022

Funding Roundup: Bizongo, Homzmart, Vetted and Others Secured Early-Stage Deals

Aug 05, 2022

How Peak Season 2022 in Europe Might Look Like

Aug 05, 2022

TechCrunch: Shopify Invests $100 Million in a Marketing Automation Startup, Klaviyo

Aug 05, 2022

ITLN: Xpressbees Names Suraj Bangera as Senior Vice President of Cross-Border Business

Aug 04, 2022

Retail Dive: Amazon Launches Same-Day Shipping for Pacsun, GNC, SuperDry, and Diesel Customers

Aug 03, 2022

E-Commerce Logistics Race in Europe: Which Country Performed the Best in Q1 2022?

Aug 02, 2022

Supply Chain Dive: OnTrac and LaserShip Introduce Transcontinental Delivery Service to Prepare for Peak Season

Aug 02, 2022

Alcott Global Podcast: Importance of Supply Chain in Stationery Industry

Aug 01, 2022

Guest Post: 10 Ways Retailers Can Inspire Customers During Peak Season

Aug 01, 2022

Funding Roundup: Early Funding Rounds Secured by Cartona, DealCart and Others

Jul 29, 2022

Vogue: Glossier Launches into Wholesale Partnership with Sephora

Jul 29, 2022

E-Commerce Logistics Race 2022: Canada vs the United States

Jul 28, 2022

Macau Business: DHL Express Names Phil Corcoran as Australia’s Managing Director

Jul 28, 2022

Top E-Commerce Retailers in the United States 2022

Jul 27, 2022

Logistics Manager: InPost Now Has 4000 Parcel Lockers in the UK

Jul 27, 2022

Marketing Interactive: L'Oréal Appoints Kenny Ng as Regional E-Commerce Director

Jul 26, 2022

Guest Post: Why Logistics and Supply Chain Management Is Important

Jul 26, 2022

Guest Post: 7 Customer Retention Metrics That Allow You to Measure Customer Loyalty

Jul 25, 2022

Alcott Global Podcast: Revolutionizing Offshore Logistics

Jul 25, 2022