DataViz – How To Use It For Your E-Commerce?

In the context of big data and artificial intelligence, more and more companies are making it a point of honor to be data-driven, i.e. oriented towards data analysis. And for a good reason! The data makes it possible to analyze the results and behavior of users to improve the performance of the actions undertaken. But being data-driven shouldn’t be reserved for a few data analysts. Ideally, all employees should be able to track goals and deferrals and base their day-to-day decisions on complex numbers. 

Yes, but what to do when you’re overwhelmed with data and tearing your hair out just by viewing the umpteenth Excel table? Well, let’s try Dataviz. In business, the DataViz will simplify the analysis of many data in real-time and facilitate decision-making. The association of graphics and data can find many applications for your company, serve as explanatory support on your site or blog or as actual story-telling on your “about ” or “who we are” page.

What Are The Benefits Of DataViz?

The amount of data collected, created and processed is constantly increasing! According to Statista, the volume of data exchanged on the Internet will reach 147 zettabytes in 2021. And if the analysis tools now allow increasingly advanced automated analyses, it can be easy to get lost in analyzes that are sometimes too numerous and even useless. And the more data available, the more you need to improve your expertise in Data Analytics to rely on tangible and precise analyses.

Moreover, no less than 59% of decision-makers rely on data daily to make their decisions. And when we know that, on average, companies use 400 different data sources to establish their analyzes and KPIs, we can easily imagine the multiplication of Excel tables. Therefore, it is difficult to navigate through them when it comes to representing the critical data. And this is where DataViz will be able to support you and help you represent your data more clearly.

In addition to bringing clarity to reports and dashboards, DataViz accelerates and facilitates the memorization of information: readers retain much better the data represented by a design because human memory works much more effectively if confronted with a visual than a text. You can easily emphasize specific data during internal presentations using coloured graphics. When we know that our temporary memory only retains seven digits, we understand even better the advantages that Data Visualization can bring to decision-makers, project managers and team leaders.

And DataViz is not just for your team meetings. You can also use it in marketing and your external communication. Do you wish, for example, to provide quantified information on your website or to communicate your efforts to fight against the production of CO2? And do you have figures to illustrate your good results? A diagram, a pie chart or a sharp graph will be much more effective than a long text or a list of abstract data. The more a message is visually appealing and simple, the more it will be read and remembered by your customers. 

Let’s recap the advantages of using the Dataviz:

1. Save time in your research and analysis of information
2. Gather the data and information that matters in a single medium
3. Facilitate decision-making
4. Engage your audience more efficiently and their ability to retain information

Tip: Try using DataViz concepts on social media! The graphic representation will be particularly appreciated if you create posts on Instagram and want to communicate encrypted data to your customers! How many followers do you have? What are your customers’ favorite products? What are the components of this or that product? And to create a perfect post on Instagram, we have created a checklist to help you: Now that we’ve seen why Dataviz can help you modernize your data presentation, let’s take a look at how to integrate Dataviz for your business step by step.

Use DataViz Step By Step

To visually represent your data, start by identifying the reports and data you want to share and make them more accessible. If you work with a lot of data, the first thing to do is to define your KPIs (or key performance indicators) clearly.

Define Your KPIs

KPIs allow you to determine the performance of your team and your company about the objectives you have set for yourself. When these are well established and clear to everyone, it is pretty easy to represent them on decision-making dashboards.

But Then, For Which KPIs Could You Set Up The Dataviz?

The good news is that Dataviz applies to all your teams and departments and allows you to share information from management to employees and vice versa effectively. For your e-commerce, you can establish a tagging plan that will help you define the most important KPIs. Depending on your site type, you will not have the same objectives and will not measure the exact conversions. In e-commerce, you might want to graph data on:

1. The number of transactions,
2. your customer acquisition costs,
3. average basket value
4. your product return rate,
5. your cart abandonment rate,
6. the evolution of your turnover,
7. The average rating of customer reviews etc.

Choose Your Chart

Once you have identified your KPIs and the data you want to represent, it is essential to choose the shape of your chart carefully. In DataViz, this is essential because depending on the information you have. Still, mainly on what you want to highlight, it may be more appropriate to opt for a diagram rather than a pie chart or a timeline.

1. If you compare several sources, the pie chart, the bubble chart or the horizontal diagram will allow you to compare several data. If you want a precise representation, I advise you to adopt a graphic drawing with an x-axis and ay axis, allowing a more accurate reading of the figures. 
2. If you visualize the progress of an objective, then it will be wise to choose the representation of a single piece of data to highlight its evolution over time. The histogram allows, for example, a quick view of extreme values ​​and deficiencies to be corrected. The line chart (or curve) will be perfect for analyzing developments and upward or downward trends.
3. Do you bring out key figures? You might want to test the Sparkline chart (or trend chart) associated with your data. This representation of the data that fits in an Excel cell makes it possible to put a figure in its context and visualize its evolution.

There are many ways to represent data, from the timeline to bubble charts to spider webs. The Internet can provide you with many examples, infographics, catalogs and inspirations that will adapt to your needs. And if you run out of ideas, you can always start by using automatic tools from DataViz.

Use An Automatic Tool

Many automatic tools will allow you to visualize your data as needed. I present to you Google Data Studio and RawGraphs  :

1. Google Data Studio is a tool to convert your Google data into graphs and Dashboards. You can import your data from several sources such as Google Analytics, Google Ads, Search Console, MySQL, Twitter, Facebook Ads, or even Amazon Seller without opening the different platforms. You can either use a predefined dashboard or create a table that you have personalized from A to Z.
2. The +: The Google tool is free and easy to use, so ideal for beginners in DataViz. It will allow you to export to PDF, share and collaborate on the same dashboard.
3. RAWGraphs is an open-source site specializing in DataViz and was initially designed for developers. There is no need to register before copying and to paste your data directly on the interface or by downloading an excel file. Be careful not to use the platform for your company’s sensitive data.

In addition to these two free examples, you will find many other DataViz tools such as Databox, inform, chart blocks (with a free basic version), Zoho Analytics, or Power BI from Microsoft.

In Summary

The DataViz makes your data more readable and more pleasant to look at and prepare. Whether it is to present your results in sales or marketing, with data visualization, you will come to terms with the multitude of data and improve your internal communication. Remember that DataViz is a process that can take some time, so why not start using it for a few KPIs? Or to tell your story on your “About” page? And to save time, you can always be accompanied by an expert in data and graphics.

Also Read: SAP MANAGEMENT SYSTEM: ALL THE ADVANTAGES FOR YOUR COMPANY