Magento Commerce announced their new Business Intelligence offering for B2B companies to connect commerce and revenue performance on November 2. This new offering by Magento has made their already robust reporting system more B2B oriented. B2B companies now can benefit from integrated reporting tools and improved dashboards which enables more effective decision making.
Here is what is offered in the Business Intelligence for B2B companies
- New and improved reporting tools and multi-tier data analytics that is built keeping in mind the B2B market requirements. The marketers have better access to a wider spectrum of data and make better decisions.
- Magento has also released four new dashboards specific to B2B Market –
- Companies – Estimate customer engagement value to the organization based on their purchase history, customer lifetime value, credit balance etc.
- Quotes – Quotes to track business performance by considering conversion rates, the total generated revenue, discounts offered, average negotiation time etc.
- Sales representatives – Detailed information that shows sales performance like average closing time, quote to order conversion rate, negotiation time on an individual and well as on a team level.
- Catalogs- To analyze product details from different product categories, product performance – both bestsellers and the least selling ones, and also to understand whether supply is meeting demands
With the new dashboard options, Magento is confident that their customers can have better market insights and improve their e-commerce performance. Magento BI organizes the B2B market information so the e-commerce specialists have access to the right information at one place for studying, comparison, and thus enables easy and better decision making.
“Magento Business Intelligence for B2B closes the gap and empowers branded manufacturers and distributors with the insights they need to deliver great customer experiences and drive business growth,” says Bob Moore, head of Magento Business Intelligence.
For more information on the product, please click Magento Business Intelligence Essentials
To know how your organization can benefit from Magento BI, write to us at services@suyati.com
