In the fast-paced world of eCommerce, the ability to make data-informed decisions quickly and decisively is critical for growth. Competition is fierce, and shifting changes in consumer behavior must all be considered for sellers to stay ahead of the curve.
Many eCommerce players are facing a new and growing challenge – too much data is slowing them down. We call this “eCommerce dashboard fatigue”, and it is a formidable challenge for eCommerce businesses looking to embrace data to stay ahead of the competition.
Defining eCommerce Dashboard Fatigue
As the world of eCommerce has evolved, the industry spawned the first generation of analytics tools that help teams make sense of their landscape, and optimize their operations. Amazon (and other eCommerce marketplaces) provide sellers with integrated analytics (ARAP), and a staggering number of 3rd party software (Helium10, Profitero, and others) attempt to arm teams with more data and dashboards.
However, this usually results in false promises as complex and complicated dashboards are difficult to transform into meaningful insights that the team can take action on.
Take a look at what a typical set of dashboards an eCommerce team needs to reason with to drive decision making:
Fundamentally, traditional dashboards for eCommerce face two primary issues:
- Data Complexity: There is a great deal of skill involved in looking at these dashboards and understanding what it means, and what you should do about it. This requires a team to significantly grow and ‘upskill’ their analysis abilities to effectively leverage the data in a scalable way.
- Time Management: Even with the correct skillset, reviewing large-scale data for a complex and growing eCommerce portfolio requires a daunting amount of time to do right
The resulting symptoms are typically:
- Information Overload: With an ever-increasing number of dashboards and metrics to monitor, teams can quickly become inundated with data, making it difficult to prioritize and focus on what matters most.
- Decision Paralysis: The overwhelming amount of data can lead to an inability to make timely decisions, as teams spend valuable sifting and scanning instead of strategizing.
- Missed Opportunities: By the time actionable insights are identified, the window of opportunity for growth may have already passed, especially in dynamic and fast-moving competitive environments.
Beyond Dashboards With eCommerce AI
There’s no question that eCommerce teams must embrace a data-driven, analytical approach in order to be successful in the marketplace. This requires teams to improve their skills and grow data acumen across the team.
But similar to many other industries, the emergence of AI is ushering in the death of the dashboard, replacing it with machine learning and generative AI technologies to create impact automatically.
How can AI can assist for eCommerce
Identify opportunities for optimization: Instead of endlessly reviewing charts and dashboards to locate opportunities, AI can achieve this by automatically scanning data and recognizing patterns. For eCommerce, this can be as simple as reacting to a competitor’s changes, to finding subtle trends in consumer search patterns. The key benefit is that AI can complete this process much faster, more accurately, and at scale.
Detect hidden patterns and trends: By automating data monitoring, AI can zoom in on strategic and long-term eCommerce trends, then deliver insights to develop data-informed strategies and empower decision making.
Democratize data access for all: The revolutionary capabilities of large language models (ChatGPT) makes it easy for any business user, regardless of data analysis skill and experience, to ask questions and get answers about data.
While the dashboard is still the standard for most businesses to glean intelligence and insights, AI has proven to be far more effective at-scale, and with the results to back it up.
Today’s businesses seeking to use new technologies must approach them with a practical plan that leverages traditional BI and analytics, but with a boost from AI. However, in the near future, teams and professionals will no longer need to engage in manual, time-consuming processes.
While the dashboard is still the standard for most businesses to glean intelligence and insights, AI has proven to be far more effective at-scale, and with the results to back it up. Today’s businesses seeking to use new technologies must approach them with a practical plan that leverages traditional BI and analytics, but with a boost from AI. However, in the near future, teams and professionals will no longer need to engage in manual, time-consuming processes.
Luckily for the eCommerce industry, the rapid evolution of AI technologies has already started to help them. This translates to spending less time browsing dashboards and more time taking action to boost sales and grow revenue in a competitive and AI-ready world.
Who is Noogata?
Noogata’s AI solution simplifies competitive intelligence to produce actionable insights so your eCommerce team can win more business, stay ahead of competitors, and unleash eCommerce growth.
Ready to take action? Book a demo with Noogata today.