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11 Dec 2013

Business intelligence for the optimisation of online shops: new novomind study

The use of BI for the optimisation of online shops has spread further and further. In order to increase the success of their online shops and to remain competitive, 65 percent of those responsible for e-commerce are already using BI solutions and another 24 percent are already firmly planning on implementing them.
These were the findings of the new study entitled 'Business Intelligence in Online-Shops' that was commissioned by novomind. The study also shows that nearly 75 percent of respondents were primarily relying on BI in order to optimise their conversion rate. This is for good reason, as 86 percent of BI users were able to increase their conversion rate, according to the study. Another finding of the study is that 64 percent of the respondents find it important to be able to react to customer behaviour in real time. Only a few online shop platforms such as the novomind iSHOP are capable of this as of yet. It would therefore have very positive effects. After all, experience as well as the study show that two out of three online shops that converted to BI data in real time were able to significantly increase their success and reduce their conversion rate.
Other improvements resulting from the use of BI data in the companies include customers selecting more products, process optimisation, easier navigation through the shop for customers and merchants being able to react more quickly.