Magento Business Intelligence: What’s New In It

Anuj Dalal

Anuj Dalal

January 10, 2020

Adobe has released an update for its data-management platform, Magento Business Intelligence. The new update allows merchants to visualize data in meaningful ways and make sure that the right data is being shared across the organization.

With the latest update, merchants can easily analyze the data using the simpler dashboard and reporting tools. Besides, the new features reduce the efforts and costs required to collect and analyze actionable insights.

Let’s understand what is Magento Business Intelligence and how the new features will help businesses.

What is Magento Business Intelligence?

Magento Business Intelligence is a cloud-based data management and visualization platform built for merchants who use Magento. The platform provides reporting tools and dashboards for merchants to analyze data, gather insights, and make informed decisions to improve their business.

MBI consolidates data from its database, Magento extensions, and other third-party tools and presents in the dashboard in the form of valuable insights.

This kind of reporting and data analytics is useful for answering critical business questions such as, Which channels have acquired the most valuable customers? What is the average customer acquisition cost vs. customer lifetime value?

After Abode acquired Magento company, Magento Business Intelligence is now part of Adobe Experience Cloud. Being part of Adobe eco-system, it benefits from Adobe Sensei’s Machine Learning and Artificial Intelligence capabilities.

  • New Data Visualization Capabilities

Previously, Magento Business Intelligence was offering ten types of visualization options. With the latest update, the platform now includes three new visualization types such as scatter plots, scatter plots with a single trend line, and bubble charts.

The new visualization capabilities allow merchants to add more dimensions to their reports that correspond to a new value. Merchants can use this feature to interpret the correlation between the sets of data quickly.

A merchant can plot grouped z values that are represented by the size and color of a bubble. For example, a merchant can use this feature to see customer orders and order revenue from specific sources grouped by region.

  • Schedule and Send Data Reports with an Email Summary

Larger organizations with a large number of customers find it challenging to analyze colossal amounts of data and inform decision-makers and key stakeholders on the important performance metrics.

Magento has introduced a new feature named “Enhanced email summary” to help organizations overcome such challenges.

With the help of this feature, MBI users can easily schedule and send data reports, visualizations, and critical performance metrics to relevant stakeholders within their organization. Users can also send a one-time Email Summary or schedule updates as per the calendar.

The email summary status page showcases helpful information such as what data is being sent, how often the reports are sent, who is receiving the reports.

New Features Make Significant Sense for Businesses

Magento has carefully monitored the user needs and introduces the missing functionalities. The two new features of Magento Business Intelligence may not seem like a huge update but they will simplify the work of a broad audience.

This new update is highly relevant and beneficial for business analysts, team leaders, managers, senior managers, and CEOs.

How Much Will it Cost?

Magento Business Intelligence is available in two editions; Essentials and Pro. Starting at $100 per month, Essential edition is the lighter version aimed towards small merchants planning to grow their business. It provides you 100+ business performance reports and dashboards.

We Build High Revenue-Generating E-Commerce Stores

We are a leading e-commerce website development company delivering high-quality e-commerce stores that drive sales. Our skilled and experienced team of e-commerce developers have launched more than 350+ e-commerce stores capturing various industries.

If you are searching for a reliable company for eCommerce website development, feel free to contact us or send us an email.


Anuj Dalal

About Anuj Dalal

A visionary founder and CEO, Anuj Dalal is an IT engineer, systems architect and technology executive with over 12+ years of expertise leading technology teams and building enterprise e-commerce systems. His leadership and approach to e-commerce technology has delivered successful e-commerce solutions - generating billions of dollars in revenue. You can find Anuj on Linkedin and Twitter.

img

The Best Three Techniques to Uplift Your SEO in 2018

An SEO strategy is touted to be effective when all tasks are geared to drastically improve website quality or a company’s web presence. With SEO evolving over time, expect 2018 to bask on new results. Every business’ website needs a strategy of a UX overhaul or proper content to rank high on SERPs. The website’s…

Read more...
img

Shopify Gold vs Magento Enterprise: The Ultimate Comparison

First and foremost, every eCommerce platform allows for a strong shopping experience with virtual storefronts that attract, entice and enable consumers to buy products or services as they desire. Online merchants host their websites and even manage their offerings, prices, promotions etc. But when higher volumes are considered, the e-commerce strategy does depend on the solidity…

Read more...
img

Popular Forms of Typography that Add Sheen to Design

A great design can speak volumes. It is essential to establish a connection between your website and your audience. This is achievable through text or web design context. Typography or fonts play a requisite role as a major communication factor. Going Beyond with Typography: With 2019, typography has become a trend with the evolution of…

Read more...