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Today's Complete, Focused, Up-to-Date Guide to Analytics for Ecommerce
Chapter 1 Ecommerce Analytics Creates Business Value and Drives Business Growth 1
Chapter 2 The Ecommerce Analytics Value Chain 9
Identifying and Prioritizing Demand 11
Developing an Analytical Plan 14
Activating the Ecommerce Analytics Environment 16
Preparing and Wrangling Data 20
Analyzing, Predicting, Optimizing, and Automating with Data 22
Socializing Analytics 23
Communicating the Economic Impact of Analytics 24
Chapter 3 Methods and Techniques for Ecommerce Analysis 27
Understanding the Calendar for Ecommerce Analysis 28
Storytelling Is Important for Ecommerce Analysis 29
Tukey’s Exploratory Data Analysis Is an Important Concept in Ecommerce Analytics 31
Types of Data: Simplified 34
Looking at Data: Shapes of Data 36
Analyzing Ecommerce Data Using Statistics and Machine Learning 47
Using Key Performance Indicators for Ecommerce 58
Chapter 4 Visualizing, Dashboarding, and Reporting Ecommerce Data and Analysis 71
Understanding Reporting 75
Explaining the RASTA Approach to Reporting 77
Understanding Dashboarding 77
Explaining the LIVEN Approach to Dashboarding 80
What Data Should I Start With in an Ecommerce Dashboard? 81
Understanding Data Visualization 81
Chapter 5 Ecommerce Analytics Data Model and Technology 91
Understanding the Ecommerce Analytics Data Model: Facts and Dimensions 93
Explaining a Sample Ecommerce Data Model 96
Understanding the Inventory Fact 97
Understanding the Product Fact 98
Understanding the Order Fact 98
Understanding the Order Item Fact 99
Understanding the Customers Fact 99
Understanding the Customer Order Fact 100
Reviewing Common Dimensions and Measures in Ecommerce 100
Chapter 6 Marketing and Advertising Analytics in Ecommerce 103
Understanding the Shared Goals of Marketing and Advertising Analysis 105
Reviewing the Marketing Lifecycle 108
Understanding Types of Ecommerce Marketing 111
Analyzing Marketing and Advertising for Ecommerce 112
What Marketing Data Could You Begin to Analyze? 116
Chapter 7 Analyzing Behavioral Data 119
Answering Business Questions with Behavioral Analytics 123
Understanding Metrics and Key Performance Indicators for Behavioral Analysis 124
Reviewing Types of Ecommerce Behavioral Analysis 126
Chapter 8 Optimizing for Ecommerce Conversion and User Experience 133
The Importance of the Value Proposition in Conversion Optimization 137
The Basics of Conversion Optimization: Persuasion, Psychology, Information Architecture, and Copywriting 138
The Conversion Optimization Process: Ideation to Hypothesis to Post-Optimization Analysis 141
The Data for Conversion Optimization: Analytics, Visualization, Research, Usability, Customer, and Technical Data 145
The Science Behind Conversion Optimization 147
Succeeding with Conversion Optimization 151
Chapter 9 Analyzing Ecommerce Customers 155
What Does a Customer Record Look Like in Ecommerce? 156
What Customer Data Could I Start to Analyze? 157
Questioning Customer Data with Analytical Thought 158
Understanding the Ecommerce Customer Analytics Lifecycle 159
Defining the Types of Customers 161
Reviewing Types of Customer Analytics 162
Segmenting Customers 163
Performing Cohort Analysis 165
Calculating Customer Lifetime Value 166
Determining the Cost of Customer Acquisition 168
Analyzing Customer Churn 169
Understanding Voice-of-the-Customer Analytics 170
Doing Recency, Frequency, and Monetary Analysis 171
Determining Share of Wallet 172
Scoring Customers 173
Predicting Customer Behavior 174
Clustering Customers 175
Predicting Customer Propensities 176
Personalizing Customer Experiences 178
Chapter 10 Analyzing Products and Orders in Ecommerce 179
What Are Ecommerce Orders? 181
What Order Data Should I Begin to Analyze? 183
What Metrics and Key Performance Indicators Are Relevant for Ecommerce Orders? 184
Approaches to Analyzing Orders and Products 186
Analyzing Products in Ecommerce 193
Analyzing Merchandising in Ecommerce 198
What Merchandising Data Should I Start Analyzing First? 210
Chapter 11 Attribution in Ecommerce Analytics 213
Attributing Sources of Buyers, Conversion, Revenue, and Profit 217
Understanding Engagement Mapping and the Types of Attribution 220
The Difference between Top-Down and Bottom-Up Approaches to Attribution 224
A Framework for Assessing Attribution Software 225
Chapter 12 What Is an Ecommerce Platform? 229
Understanding the Core Components of an Ecommerce Platform 232
Understanding the Business Functions Supported by an Ecommerce Platform 235
Determining an Analytical Approach to Analyzing the Ecommerce Platform 239
Chapter 13 Integrating Data and Analysis to Drive Your Ecommerce Strategy 241
Defining the Types of Data, Single-Channel to Omnichannel 243
Integrating Data from a Technical Perspective 246
Integrating Analytics Applications 259
Integrating Data from a Business Perspective 261
Chapter 14 Governing Data and Ensuring Privacy and Security 263
Applying Data Governance in Ecommerce 268
Applying Data Privacy and Security in Ecommerce 272
Governance, Privacy, and Security Are Part of the Analyst’s Job 276
Chapter 15 Building Analytics Organizations and Socializing Successful Analytics 279
Suggesting a Universal Approach for Building Successful Analytics Organizations 280
Determine and Justify the Need for an Analytics Team 283
Gain Support for Hiring or Appointing a Leader for Analytics 285
Hire the Analytics Leader 287
Gather Business Requirements 288
Create the Mission and Vision for the Analytics Team 289
Create an Organizational Model 289
Hire Staff 291
Assess the Current State Capabilities and Determine the Future State Capabilities 291
Assess the Current State Technology Architecture and Determine the Future State Architecture 292
Begin Building an Analytics Road Map 294
Train Staff 294
Map Current Processes, Interactions, and Workflows 295
Build Templates and Artifacts to Support the Analytics Process 296
Create a Supply-and-Demand Management Model 296
Create an Operating Model for Working with Stakeholders 297
Use, Deploy, or Upgrade Existing or New Technology 298
Collect or Acquire New Data 298
Implement a Data Catalog, Master Data Management, and Data Governance 299
Meet with Stakeholders and Participate in Business Processes, and Then Socialize Analysis on a Regular Cadence and Periodicity 300
Do Analysis and Data Science and Deliver It 300
Lead or Assist with New Work Resulting from Analytical Processes 302
Document and Socialize the Financial Impact and Business Outcomes Resulting from Analysis 303
Continue to Do Analysis, Socialize It, and Manage Technology While Emphasizing the Business Impact Ad Infinitum 303
Manage Change and Support Stakeholders 304
Chapter 16 The Future of Ecommerce Analytics 307
The Future of Data Collection and Preparation 311
The Future Is Data Experiences 313
Future Analytics and Technology Capabilities 314
Today’s Complete, Focused, Up-To-Date Guide to Analytics for Ecommerce
Ecommerce analytics is not generic analytics. Rather, it encompasses specific, powerful techniques for collecting, measuring, analyzing, visualizing, dashboarding, optimizing, personalizing, and automating data related to online sales and customers.
Ecommerce Analytics is the first focused, coherent, and practical guide to applying modern analytics in ecommerce. Authored by leading consultant and analytics team leader Judah Phillips, it shows how to leverage all your data resources to improve efficiency, grow revenue, reduce cost, and boost profitability.
This landmark guide focuses on using analytics to solve the critical problems ecommerce organizations face, from generating demand to acquiring customers, understanding and shaping digital behavior to accelerating and optimizing conversion, nurturing new customers to re-engaging and retaining former purchasers.
Phillips helps you integrate ecommerce analytics throughout all facets of digital experience, product development, business management, transactions, merchandising, and marketing. You’ll discover techniques for improving strategy, tactics, and experience and measuring performance throughout the customer lifecyle, including mobile, social, and the Internet of Things (IoT).
From building teams and models through choosing platforms and channels, Phillips covers all you need to fully leverage analytics in any ecommerce organization.
Answer the questions that drive ecommerce profits!
Customers: What are the characteristics of my most (and least) loyal customers, and how do I segment them?
Marketing: How do our customers perceive us? Which have the highest lifetime value?
Categories/Products: Which products earn the highest sales or margins? Which are purchased together?
Price/Promotions: What’s the business impact of discounts and promotions?
Channels: How are my channels performing? How do they compare to and complement each other?
Prospects/Customers: Which prospects should I target? What offers will work best?
Optimization/Prediction: What site elements should I test? What products should I order?
Judah Phillips helps companies create value with analytics and data science by improving business performance. Judah has led analytics and data science teams for Fortune 500 companies and has improved their financial performance through the applied analysis of data, the management of analytical and technical resources, and the alignment and optimization of analytics strategy against short-term roadmaps and long-term strategic visions. Judah strongly believes that cutting-edge technology is critical and necessary but often becomes technical overhead unless strategy is aligned with excellence in organizational development, operational management, and delivery execution that is solidly tied to impacting material financial goals. Judah has worked for or been hired as a consultant by Internet companies, media companies, consumer product companies, financial services firms, and various types of agencies.
• He is the sole author of three books on analytics, including Ecommerce Analytics, Building a Digital Analytics Organization, and Digital Analytics Primer. Judah has also authored chapters, edited, or contributed to the development of other books: Measuring the Digital World, Advanced Business Analytics, Sales and Marketing Analytics, Digital Is Changing Everything, The Complete Guide to B2B Marketing, and Multichannel Marketing Metrics.
• He served on various boards of or advised established and start-up technology companies, including global leaders in digital analytics, mobile analytics, ecommerce, mobile apps, and advertising technology.
• He is an Adjunct Professor at Babson College and has guest lectured on analytics and data science at the business schools for New York University, Boston College, Northeastern University, and others.
• He is the former V.I.P. at Harvard Innovation Lab, where he advised Harvard start-ups about analytics and data science.
• He has spoken at more than 70 technology and industry conferences since 2006.
Judah holds a master of science in finance and a master of business administration from Northeastern University and a B.A. from the University of Massachusetts Amherst.
“This book is the answer to your prayers. Buy and read this book–every page of it. Take its recommendations to heart. If you want to be successful at ecommerce, you need a heavy dose of analytics. And if you want to be successful at ecommerce analytics, you need a heavy dose of this fine book.”
–Thomas H. Davenport, President’s Distinguished Professor of Information Technology, Babson College; Research Fellow, MIT Center for Digital Business; Cofounder, International Institute for Analytics; Senior Advisor to Deloitte Analytics; author of 17 books
“Leveraging analytics to improve business results requires first knowing the questions that need to be answered. Ecommerce Analytics is the book to read if you are looking to use data to improve your online performance.”
–Josh James, Founder and CEO, Domo; Cofounder and Former CEO, Omniture
“With U.S. ecommerce sales set to cross $450 billion in 2017, the opportunity in front of you is immense. Yet, it is likely your conversion rates are stuck at 2%. I’m excited about Judah’s comprehensive tome because it is just what the doc prescribed to help unstick your ecommerce strategies. From cart abandonment to multichannel attribution to lifetime value... You’ll get precise guidance to win big!”
–Avinash Kaushik, Digital Marketing Evangelist, Google; author, Web Analytics 2.0, Web Analytics: An Hour a Day
“Are you a digital analyst working for an ecommerce company? Or are you an ecommerce marketer and your boss just asked you to provide more data about your digital efforts? If you are, then you should check out Ecommerce Analytics!
“Judah does a great job of making digital analytics for ecommerce logical and easy to understand. If you’re a digital analyst familiar with topics like attribution modeling, you’ll love how Judah discusses the specifics for an ecommerce business.
“If you’re new to digital analytics you’ll find the content easy to approach and very actionable. But that doesn’t mean that he cuts corners! Judah is really, really thorough! He takes the time to dive into all the different metrics and analysis techniques that you can perform on your ecommerce business.
“I put Ecommerce Analytics on my bookshelf and plan to use it whenever I work with an ecommerce company–you should, too!”
–Justin Cutroni, Analytics Evangelist, Google; author of Google Analytics and Performance Marketing with Google Analytics
“Judah has done the impossible. In just a few chapters, he helps you understand the opportunity ecommerce retailers have in front of them, the monumental impact ecommerce analysis can have, the challenges you’ll face from a management and socialization perspective, and most importantly how to navigate all of it and get stuff done.
“This book is a must-read for those who want to elevate their ecommerce stores to the next level, for the data teams who are tired of shouting into the wind, and for the managers who want to make a more meaningful impact on the organization. It is well researched, carefully thought out, and covers all of the bases. Stop reading this and buy the book already; your company will thank you.”
–Tommy Walker, Editor-in-Chief, Shopify
“This important book is required reading for anyone who wants to understand how to deliver successful ecommerce analysis and data science. It’s instructive and helpful, unifying the subject matter in way that is actionable for leadership, managers, technologists, and analysts.”
–Raj Aggarwal, Cofounder and CEO, Localytics
“Judah has created a must-read book for all digital analysts. It’s clearly framed and combines a comprehensive understanding of the topic with a practical flavor only the author can bring through decades of experience. This should be a hit in any college analytics class and will be on my graduate analytic course reading list in the future.”
–Rand Schulman, Managing Partner, Efectyv Digital; Cofounder, DealSignal; Cofounder, Digital Analytics Association
“In Ecommerce Analytics, Judah has delivered a comprehensive survey of the field, covering a broad array of topics important to implementers, analysts, and executives. This book contains a wealth of information that will be valuable in successfully executing an ecommerce strategy.”
–Bob Page, Director Emeritus, Digital Analytics Association; Internet entrepreneur
“Judah has delivered something critical in this remarkable information age–a broad, comprehensive summary of the essential elements of digital commerce. Ecommerce Analytics starts by showing what’s possible, in stark terms: the size and growth of the market, along with metrics of the leaders. From there, it elaborates on the entire taxonomy–defining the end-to-end process, what data to collect–how to analyze it–and then most importantly how to interpret it and optimize from there. He even digs into some of the trickiest bits: attribution, governance, and how to organize the company around digital success. Finally, his consistent emphasis on asking business questions and defining the outcomes and measurements before starting to crunch the numbers makes the subject truly accessible–and actionable.”
–Sid Probstein, Founder and CEO, RightWhen; Cofounder and former CTO, Attivio
“Ecommerce Analytics helps you understand each of the critical components needed to collect data, personalize interactions, and move customers through the funnel. It’s the backbone of marketing automation and personalization. This is the best book for anyone who works in ecommerce or who wants a job in that field where they will have to use data to understand and drive the business.”
–Jonathan Corbin, Director, Marketo
“Ecommerce: In 2016, everyone’s doing it; few do it well; even fewer share what they’ve learned, and only one makes the top of that list. Judah Phillips is that person, and this is that book. I’ve learned a ton from Judah, and you will, too.”
–Cesar Brea, Founder, Force Five Partners; author of Sales and Marketing Analytics and Pragmalytics
“No one understands analytics more than my man Judah. This is a crucial read for anyone trying to step up their analytics game and who wants the tangible results that mastering data brings!”
–Greg Selkoe, Founder and CEO, Curateurs.com; Founder and former CEO, Karmaloop
“Ecommerce Analytics is a must-read for anyone involved in ecommerce. Not only will you learn how to do different types of analysis, it also covers the hard topics like data modeling, data integration, attribution, and building data-driven teams. You’ll even get some conversion optimization knowledge, too. You should read it before your competition does.”
–Bryan Eisenberg, Cofounder and CMO, IdealSpot; coauthor of the Wall Street Journal and New York Times bestselling books Call to Action, Waiting for Your Cat to Bark?, Always Be Testing, and Buyer Legends: The Executive Storytellers Guide
“This book is a must-read for anyone interested in making the most of their ecommerce-related data. The author does an excellent job making complex concepts accessible as well as teaching the reader how to get to actionable insights.”
–Jesse Harriott, CAO, Constant Contact