eCommerce Blog on Running an Online Marketplace

Opportunities from Customer Data

Anna Kayfitz, CEO at the StrategicDB Corp, an analytics and data cleansing company. Anna has over 10 years of marketing and analytics experience with companies such as Oracle Marketing Cloud (Previously known as Eloqua), Harlequin Enterprises, Sunwing Travel Group and a few start-ups. She also holds an MBA from a top business school in Canada.

StrategicDB Corp helps businesses get more from their data. By analyzing sales and marketing data, you can derive tremendous value for your business. StrategicDB offers data cleansing services because no analysis is possible if you cannot trust your data. Some of their services include: segmentation modelling, dashboard building, market basket analysis, lifetime value analysis and much more.

In your eCommerce you collect data but do you actually analyze the data? There are three types of customer data that can be very meaningful to your business.

1. Geographic Information

You can easily obtain your customer’s location using billing and shipping addresses. But what can you do with that data? You can do one of the following:

Purchase Totals

Summarizing your total purchases per customer is a simple task that can yield great rewards. By summarizing the total number of purchases made and the total lifetime value of the customer you can segment your customers by high value and low value. This can be useful for:

Complimentary Products

Analyzing what products were purchased together can help identify complimentary products. This can lead to increase in sales by:

These are just some ways you can use the data that you have collected to improve sales, product offerings and customer satisfaction. Everything starts with data collection, followed by data analytics which can be provided by a data analytics company, to uncover new opportunities for your business.

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