Ecommerce Analytics

Series
Pearson
Author
Judah Phillips  
Publisher
Pearson
Cover
Softcover
Edition
1
Language
English
Total pages
368
Pub.-date
April 2016
ISBN13
9780134177281
ISBN
0134177282
Related Titles


Product detail

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9780134177281
Ecommerce Analytics
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Description

Today's Complete, Focused, Up-to-Date Guide to Analytics for Ecommerce

  • Profit from analytics throughout the entire customer experience and lifecycle
  • Make the most of all the fast-changing data sources now available to you
  • For all ecommerce executives, strategists, entrepreneurs, marketers, analysts, and data scientists
Ecommerce Analytics is the only complete single-source guide to analytics for your ecommerce business. It brings together all the knowledge and skills you need to solve your unique problems, and transform your data into better decisions and customer experiences.

Judah Phillips shows how to use analysis to improve ecommerce marketing and advertising, understand customer behavior, increase conversion rates, strengthen loyalty, optimize merchandising and product mix, streamline transactions, optimize product mix, and accurately attribute sales.

Drawing on extensive experience leading large-scale analytics programs, he also offers expert guidance on building successful analytical teams; surfacing high-value insights via dashboards and visualization; and managing data governance, security, and privacy.

Here are the answers you need to make the most of analytics in ecommerce: throughout your organization, across your entire customer lifecycle.

Table of Contents

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
Bibliography   319
Index   329


Back Cover

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?

Author

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.

Reader Review(s)

“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