Running an e-commerce business is as challenging as it is refreshing in the wide presence of brick and mortar stores.
As the e-commerce industry continues to grow and consumers get accustomed to purchasing products online, exploring this growth potential with timely insights can allow you to make important decisions.
The power of tracking is to get a competitive edge and to make informed business decisions.
What is an e-commerce dashboard?
Like any other dashboard, an e-commerce dashboard communicates performance, efficiency and current growth of your online business.
Metrics like website traffic, revenue by product category, shopping cart abandonment rate form a part of the e-commerce business dashboard.
E-commerce businesses handle large amounts of traffic and data that is constantly being generated. A dashboard is your command center and a central place to see all that data that is being generated. The easy-to-understand format will assist you in making quick business decisions.
How to create an e-commerce dashboard
Before we look at how to create the dashboard, the first step is setting KPIs (Key Performance Indicators) and the second step is choosing the right metrics to track.
Step 1 – Setting the KPIs
A Key Performance Indicator is a quantifiable measure that indicates whether the business is set to achieve its targets. They are built on the strategic plans and goals of the business. An e-commerce business has large amounts of data to analyze and understand. Optimizing this data depends on the ultimate goals of the e-commerce business.
KPIs are the first step because they are a reflection of what the ultimate goals/strategic plans of the business are.
For example, if the business goal for this quarter is to increase conversion rates, the KPIs to focus on would be web traffic, abandonment rate, conversion rate.
Step 2 – Choosing metrics to track
KPIs and metrics can be easily confused with one another. While KPIs are set in the backdrop of business strategies, metrics are used as a specific measuring tool to track if the activities are meeting the KPIs.
Choose metrics that support the KPIs and ultimately trace back to the business goal. From the myriad choices of e-commerce business metrics, here are a few situation-based examples for choosing the correct metrics:
Step 3 – Creating a dashboard
The final stage is to create a dashboard.
To create a dashboard using Chartio, follow the simple steps:
- Connect your data sources to Chartio.
- From the homepage, click (+) New Dashboard button to create a new dashboard on Chartio.
- A dialogue box will appear and direct you to name your new dashboard.
- Click the Add Chart button on the right to create your first chart.
- Use the Data Explorer to quickly start building charts without writing SQL queries and create individual charts for each metric on your dashboard.
- Continue building out your dashboard by using the appropriate chart type for each metric. Here is an example for chart types for particular metrics:
- You can save and share your dashboard with your organization via a scheduled report or shareable link.
- Your dashboard automatically updates, so be sure to display your e-commerce business dashboard on a monitor so you can take a quick glance whenever you need to!
Read more about creating simple dashboards here.