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How IQLECT’s Ad-hoc Query Analysis Can Help the Retailers to Make Better Business Decisions

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As the organizations have started adopting big data sets to optimize their sales and marketing initiatives, the role of ad-hoc analysis has certainly risen to a great extent. This is evident by the 2018 Forbes business intelligence report which indicates that the retail sector is among the top users of ad-hoc queries along with other surveyed industries.

Most of the applications provide certain pre-built reports that can draw common insights to measure conversion, visits and identify sources of orders and visitors etc. However, these are not sufficient to address other critical insights that may be needed, for example, the sudden increase in customer churn and query the structured data to generate insights that are beneficial for the growth of the company. Ad-hoc analysis will help address such requirements.

In general terms, ad-hoc analysis is a business intelligence process which can be used to answer specific questions related to your e-commerce business and helps in the identification of high-value customer segments using real-time data.

IQLECT’s Shopify app comes with the Ad-hoc analysis feature to enable e-commerce organizations to provide additional insights such as price changes that might impact the sales, the reasons behind the fall in the number of customers, and the changes associated with the customer service metrics.

Let us now understand how the ad-hoc query function available in the IQLECT’s app will be helpful for your e-commerce business:

Make faster business decisions

By initiating ad-hoc analysis on IQLECT’s Shopify app, you can generate reports which will allow you to access data through a user-friendly interface that eliminates the need to take assistance from the technical support team every single time to read the data. It promotes quick response time when it comes to taking business decisions and also makes the workflow faster.
Country-wise visitors details using IQLECT app
For instance, you can apply ad-hoc query over the data stream of country-wise visitor details and analyse the kind of products that they prefer the most by visualizing the data through different charts. With this information, you can keep track of the available stock in the inventory and develop strategies to promote their sales.

Analyse data through multiple charts

Reports generated through ad-hoc analysis provided on the IQLECT’s app can be understood by a business user with minimal technical skills/knowledge. Retailers just need to initiate the query and choose the charts to study the data points and their comparison with different groups. They would also be able to keep track of the trends and changes over time.
unique and returning visitor analysis using IQLECT app
You would get multiple options among the charts such as line chart, scatter plot, progress bar, table aggregation, and much more which you can use to read specific information in a concise manner. For instance, if you want to compare the number of unique new and returning users, you can do so by plotting a pie chart for the same and draw useful insights.

Identify data within a particular time range

By initiating the ad-hoc query on IQLECT’s app, you can determine data within a given time frame. This means that you can extract information for every single minute and analyse it to make business decisions. The data generated would be useful in determining the critical points in the business process at any point in time so that they can be worked upon instantly to avoid issues in the future.
Identify sales data using IQLECT app
For example, you can determine the sudden drop in the sales of the products within a given period of time and analyse the reasons behind the same. Doing so would help you in understanding the customer behaviour more efficiently and help you to come up with strategies to avoid the sales drop that would directly influence the total revenue.

Conclusion

Ultimately, IQLECT’s ad-hoc analysis feature over the Shopify app can prove beneficial in answering specific questions related to the business. With this, retailers can make better business decisions that would improve the product sales and help in understanding the user behaviour on their website.

IQLECT is offering powerful real-time predictive analytics integration with e-commerce platform Shopify to bring enterprise-grade analytics to e-commerce stores. Stay tuned to know more about the Shopify advanced e-commerce app.

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