Webgility announced the launch of Highlight, a cross-application business intelligence platform for retailers of all sizes.
Highlight provides actionable insights based on key performance indicators (KPIs) and requires no configuration, installation, or on-boarding. For instance, in looking at data from 87,000 transactions processed by Webgility customers during the weekend of Thanksgiving 2015, Webgility can point out important buying trends, such as how consumers conducted online transactions.
"Organizations cannot compete and win today without harnessing and using the power of all the data that is available to them. Everything is now digitized and nearly every step of the buyer journey is trackable," Parag Mamnani, founder and CEO of Webgility, told eWEEK. "Business intelligence tools help companies gain a better understanding of their prospects and customers like never before. As more businesses move to the cloud and have access to tremendous amounts of user data, it’s time that organizations use business intelligence tools to get ahead before their competitors do."
Highlight interprets all of a company’s data and gives KPIs like average order volume (AOV) across all sales channels. This allows retailers to better plan marketing initiatives, track the value of new and returning customers, and project the number of orders they will need to hit revenue targets.
"The market is filled with simple analytics apps that are too shallow to provide useful insights, or complex BI tools that are too difficult and expensive to implement and use," Mamnani said. "This is especially true for e-commerce SMBs that don't have time or the money to learn and implement complex systems. They need useful, contextual insights at a low cost with no setup friction. That's Highlight."
In addition, Highlight identifies profit and loss makers, showing the details on high margin products, as well as revealing a business’s top revenue-generating items across all channels, which in turn can help businesses increase profits by creating a geographic warehouse, storage, and fulfillment strategy.
Highlight also identifies companies’ top five revenue and profitable customers at a glance across channels and also charts lifetime customer value and offers different ways to broker customer re-engagement.
"BI services must evolve from providing basic insights to relevant, contextual recommendations using the data from all business systems," Mamnani said. "They must leverage artificial intelligence to learn patterns and see relations across multiple data sources. Highlight is the BI tool of the future and this launch is an important step toward changing the way multi-channel e-commerce companies run their business."