Yesterday, Magento Commerce reported that it has acquired RJMetrics, a cloud-based analytics solution that is designed for eCommerce business intelligence. RJMetrics will merge with the Magento Platform as Magento Analytics, which means that along with the Magento analytics extensions already available, Magento will now offer a top-of-the-line native analytics tool that allows retailers to use the full extent of their business data to gain insight into customer buying behavior, marketing, merchandising, and much more.
Magento Analytics is made with merchants in mind; while other analytics platforms often call for in-depth technical knowledge, Magento's new solution lets its least tech-savvy users quickly and (quite) effortlessly integrate with enterprise-grade data sets over a wide range of applications. This allows merchants to easily combine and evaluate data for powerful cross-channel and multi-brand coverage.
According to Magento, Magento Analytics is a godsend for B2B and B2C merchants because:
- it allows for deep insight into customer behaviour, including CLV, inactive customers, repurchase rates, retention rates, and more.
- it takes marketing to a higher level, with marketing campaign ROI that perfects campaigns and allows merchants to put their money in campaigns that will bring them the most profit.
- it optimises segmentation and personalisation which in turn, allows retailers to drive more sales.
- it provides profound insight into products, pages, promotions, placement, and channel performance which results in an improved shopping experience for the end customer.
- it allows smaller business to compete better on the market with multi-brand, cross-border analytics.
- the integration to the Magento Commerce Order Management tool provides intelligent sourcing and inventory optimisation that reduce in-store stockouts and unecessary markdowns.