Скачать или смотреть How To Use Data To Increase Ecommerce Profitability - 5 Step Process

If you're an ecommerce leader looking to produce the right reports and understand how to increase profitability with the help of your data, here's where you need to start.

In this video, you will see the 5-step process necessary to use your data to increase your brand's profitability.

These steps have helped PenPath's customers wrap their heads around what is required to succeed.

For ecommerce decision-makers, much of this content can be too technical. This video is designed for executives who need a high-level overview of this process. We’ve intentionally left out the technical components. However, these steps will allow you to communicate with other stakeholders and get the ball rolling in the right direction.

Step 1: Data: First bring all your information/data together
Step 2: Interface: Visualize data for easier interactivity, interpretation, and segmentation.
Step 3: Insight and questions: Answer the most important questions for your business using data
Step 4: Activity: What are you going to do once you answer your questions? How do you do more of what works and less of what doesn’t?
Step 5: Outcome: What outcome are you trying to achieve?


When communicating this process, it's easier to start with the outcome (step 5) and work backward from there.
5. So, first understand the business outcome you want. What’s your KPI target? If you are not sure what your KPI target should be, make it a percent growth compared, for example, to last year.
4. Then list all the things that you already do to increase your main KPI (achieve your outcome). These activities will be your “levers” to push the KPI growth.
3. After you have your list of activities ready, go ahead and list all the questions that you are trying to answer that can help you determine how to do more of what works and less of what doesn’t.
2. Then determine, what is the best way to interact with your data to get those valuable insights? Which interface will be most helpful? Tip: consuming important information should feel easy (=not difficult)!
1. Lastly, list all the places where your data lives. This will give you a better understanding of which platforms you need to be pulling your data from.
Good luck!

If you found this video helpful, please let us know by subscribing and liking the video. We're on a mission to help 100K e-commerce leaders increase profitability with the help of their data.

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🚀 PenPath is a platform that gives e-commerce brands the ability to increase sales and cut costs with data-informed decisions.

How PenPath Drives Revenue:
-Connect All Your Business Platforms
-Immediately See Growth Opportunities
-Follow Step-by-Step Growth Playbooks
-Increase Revenue And Meet KPI Targets

🔹To know more:
website ► www.penpath.com
Follow us on all platforms: @penpath

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Music: Blue Window
Provided by: Jeff Kaale
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