On 1 August Magento announced its acquisition of the cloud-based analytics solution RJMetrics.
What is RJMetrics? It’s a powerful cloud-based analytics platform that measures all current data sources and centralises that data in one place, making it easy to understand and analyse for ecommerce merchants.
‘Quickly and easily consolidate data across a broad array of applications for effective reporting.’
RJMetrics will be integrated with Magento as Magento Analytics. One of the main advantages of the new integrated analytics platform is that it will allow all merchants (including non-technical users) to quickly and easily consolidate data across a broad array of applications for effective reporting.
“Cutting-edge analytics that keep them ahead of the competition.”
“Big data and analytics are now table stakes for merchants who want to find new customers, increase order value, and enhance loyalty,” said Mark Lavelle, CEO of Magento Commerce. “The combination of RJMetrics and our global ecosystem of Solution Partners will provide our joint customers, such as Signature Hardware, Draper James and Bucketfeet, and the diverse portfolio of Magento merchants with cutting-edge analytics that keep them ahead of the competition.”
Merchants should then be able to analyse conversion rates, customer loyalty programs, learn the behaviors and characteristics of customers, identify marketing channels and campaigns bringing in valuable customers by calculating ROI, and a lot more, with no additional configuration; unlike third-party applications, no additional development will be required, saving time and cost.
“At RJMetrics, we’re on a mission to help commerce businesses make smarter decisions using their data.”
Making the platform a native solution will then enable a more streamlined approach to merchants better understanding how to optimise their ecommerce business, based on data and insights into customers & merchandising already present in the Magento system.
“At RJMetrics, we’re on a mission to help commerce businesses make smarter decisions using their data. When combined with Magento’s commitment to facilitating commerce innovation through flexibility and openness, the opportunity to fulfill that mission is larger than ever,” said Robert Moore, CEO, RJMetrics.
Key features in Magento Analytics to look out for:
Advanced Customer Insights: Including customer lifetime value, repurchase rates, & inactive customers.
Marketing Campaign ROI: Insights into campaign performance to help allocation of marketing spend.
Improved Segmentation and Personalization: More targeted promotions and merchandising.
Better Merchandising and Shopping Experience: Insights into item, page, placement, promotion, and channel performance.
Multi-Brand, Cross-Border Analytics: Insights to allow smaller merchants to compete against bigger competitors.
Intelligent Sourcing and Inventory Optimization: Integration to the Magento Commerce Order Management solution to allow improved cross-channel fulfillment and inventory balancing.
Source: Magento Press Room (https://magento.com/company/press-room/press-releases/magento-commerce-acquires-rjmetrics)