In this article we look at how to practically apply data science principles to your REC+ store.
As technology moves on at pace, forward-looking businesses are looking to harness data to gain advantage and help drive their business strategy - whether that's revenue growth, profit optimisation or defensive tactics. Data science curates mass data for analysis and visualisation, such as setting up KPI scorecards fed from Google Analytics / Merchant Centre / Search Console, as well as including predictive models set up within BI.
The good news is that you’re already a ‘data scientist’ because you calculate your revenues and profits which, in the business world, is the most basic block of data science. However, that’s only the start point...
There are many more data points that need to be collected and analysed for running modern websites.
Base Dimension
Many of these are obvious and form the base dimension including number of visitors split by channel and location, bounce rates and dwell times, enquiries received, checkout sales funnel analysis, order revenues, abandonment and returns.
Practical Tip #1: Google Analytics (GA) will be your primary source for much of this together with form builder within REC+ and Order Manager.
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Gain Business Advantage Through Data Science | REC+
Gain Business Advantage Through Data Science -