The truth is in the data. And today, businesses have access to more data than ever before. The challenge is to manage, clean, interpret, and analyze it. Analyzing your data will help you understand your customers, your business, and the available opportunities. It will help you make strategic decisions proactively instead of reactively, and it will enable you to make predictions and plans in an informed way.
Ecommerce analytics are relevant in all parts of an online business throughout the customer journey. Most ecommerce merchants are good at tracking conversion rates and average order value. But to be able to sustain long-term growth, you also need to understand customer lifetime value and when and why churn occurs.