If you are involved in the world of eCommerce, you are probably familiar with the struggle of converting clicks into sales. Entire seminars revolve around this singular topic, and still, merchandisers struggle. With IBM’s WebSphere Commerce companion asset, Watson Commerce Insights, you can leave the struggle behind.
As the name implies, Watson Commerce Insights is a tool that helps you manage your storefront by providing insight into the success or failures of your commerce ventures.
If you have dipped even a single toe into the digital marketing waters, you know that analytics is the name of the game. Merchandisers need information so that they can make informed business decisions. Watson Commerce Insights provides the analytics you need to get in the know.
Watson Commerce Insights gives you easy access to the data that drives your sales. If you hope to improve your marketing strategy and increase sales, you need actionable insight into your products. You need to know where sales are failing so that you can analyze the factors that are causing the disconnect between your products and your customers.
How does Watson Commerce Insights work?
By utilizing a dashboard directly connected to your storefront, you are able to identify where a particular conversion doesn’t happen. As a result, you can assemble those non-converters and analyze where the sale might have failed. Then, you can apply that knowledge to make changes to boost sales. Here are three benefits Watson Commerce Insights can have for your business.
1. Watson Commerce Insights offers comprehensive analytics in a single place
One of the greatest benefits of Watson Commerce Insights is the comprehensive analytics that you get in one single place. Rather than installing numerous plugins or logging in to your separate third-party software again and again, you can now see everything you need to know in one place.
Watson Commerce Insights allows you to get as granular as you need to make informed business decisions. Many merchandisers often don’t take action on a failing product because delving into the causes is too costly and too difficult. Not anymore. With Watson Commerce Insights, you can segment data to see exactly where the problem is. You can view data by:
- Best and worst performers
- Sales
- Device type
- Geographical location
- Gender
- Different timelines
- Inventory
- Historical trends
And it doesn’t stop there. You can view the data for just about any business metric you could imagine. Once you are armed with the information you need, it’s time to make some changes to improve your sales.
2. You can make changes to your storefront directly from Watson Commerce Insights
This powerful feature may be overlooked at first glance. You might think, I already have the capability to make changes anytime I want. Why do I need yet another tool to increase the clutter?
The simple answer is this: Watson Commerce Insights actually reduces the clutter. The real power lies in the ability to see things from a visitor perspective while having the power to immediately apply your data. With Watson Commerce Insights, you can view your storefront as a customer would see it. With the data overlaid on the products, you are more clearly able to analyze the problem and understand any problems in the context that matters.
Identifying the problem is only the first step. Using Watson Commerce Insights, you can make changes directly to your storefront so that your business decisions are informed and immediate. The intuitive drag-and-drop feature makes it easier than ever to make the necessary changes using the data you are viewing.
For example, you can rearrange content, update layouts, modify search rules, re-sequence products, and manage promotions, to name a few. No more high-level technical knowledge necessary—just make your changes with a few clicks and you’re back to selling.
3. Watson Commerce Insights is Cognitive
Much like one of WebSphere Commerce’s other companion assets, Watson Content Hub, Watson Commerce Insights is cognitive. It’s software that learns. Using the “Insights Assistant,” Watson Commerce Insights is able to identify anomalies in the storefront, notify merchants of the abnormality, and make recommended actions based on the data. No more wading through mountains of data.
In addition, you can choose to integrate Watson Commerce Insights with Watson Analytics. Watson Analytics is a cloud-based service that utilizes guided predictive analytics and cognitive capabilities to interact with users using a natural language dialogue. Translation? You can talk to Watson Analytics and it will guide you through making the necessary business decisions to improve your sales using Watson Commerce Insights.
Seem a little too good to be true? It isn’t. Check out this video from IBM to see an example of Watson Commerce Insights in action.
