Magento has just announced their first acquisition as an independent company, (they previously were partnered with eBay which ended a year ago).
This acquisition is for Philadelphia-based RJMetrics – a data-driven tool which enables eCommerce companies to better monitor and improve their customer’s experience on your website.
A strong move by Magento, which should see their in-app reporting and analysis tools improve hugely.
Indeed their CEO, Mark Lavelle, has commented…
‘RJMetrics enables us to accelerate our roadmap for adding more advanced reporting and analytics capabilities. This acquisition lets us offer another service to our partners that can help our clients get the most out of the platform.’
This move should be coming into use soon. Reported data that will be seen via the new Magento Analytics, when launched, includes:
- Customer Insights such as repurchase rates and cohort analysis
(http://cohortanalysis.com/) to help eCommerce stores to understand their customers
- Marketing Campaign ROI which will provide insight into campaigns performance to allow for continuous optimisation of the campaigns and their allocated marketing spend
- Improvements to the Merchandising and Shopping Experience through the use of data on items, pages, promotions, individual channel performance to assist in improving sales and margins
- Better Sourcing and Inventory Optimisation via the use of the Magento Commerce Order Management solution, which will improve sales and margins by reducing the appearance of stock-outs and the use of markdowns.
Here at ExtraDigital we are looking forward to this Magento addition and seeing the kinds of data and options this new addition should bring.
It will be interesting to see the impact that this has on Google Analytics which is currently what most Magento users rely on to gain information on how their site is performing and where improvements could be made.
This addition to the Magento platform should also lead to further improvements within Magento stores in terms of automating the optimisation process. All of which will be beneficial for Magento eCommerce stores and their users, who will no doubt see better stores as a result of better data.