According to analytics and data guru Bernard Marr,
“I firmly believe that big data and its implications will affect every single business—from Fortune 500 enterprises to mom and pop companies—and change how we do business, inside and out.”
Successful online merchants always prefer using data to make profitable- futuristic decisions. Today, organized and well-structured data helps you better understand your customers and market your product through the right channels. If anything, that is challenging these days is slicing your data down to what’s the most helpful.
Almost every modern business platform is capable enough to deliver rows upon rows of data for your business to use them effectively. Similarly, Magento has introduced new features to its popular Magento Business Intelligence on September 12. Here’s a quick introduction to MBI for you.
Magento Business Intelligence
Magento Business Intelligence is a cloud-based data management and virtualization platform which provides easy-to-use dashboard for the online merchants.With the passage of time, MBI has transformed into noteworthy platform to analyze the data and improve businesses.
New Capabilities that MBI Platform Offers
Magento has integrated new capabilities to Magento Business Intelligence which let merchants to not only visualize their data in a meaningful way, but also assures that the right information is being shared with an equitable team member.
New Data Visualization with Dynamic Scatter & Bubble Charts
Earlier, Magento Business Intelligence offered ten different virtualization options. But, with this update, three more virtualization types are integrated: scatter plots, scatter plots with a trend line and bubble charts.
With the addition of bubble chat, merchants have the advantage to add a third and fourth dimension to their visual reports. It means, having coordinates of X and Y, you as a merchant can plot coordinate Z values which are represented by size and color of the bubble.
Image Source: Magento
Send Timely Data Reports with Enhanced Email Summaries
No doubt, it’s really difficult to keep all the relevant stakeholders updated on the performance metrics, but with this latest update, this problem has been solved! The enhanced email summaries allow the users to easily schedule and send visualization right from the platform.
Learn more about Magento Business Intelligence platform.