Amazon is a retail destination that allows the sellers to connect with the target customers and conduct their business accordingly. Selling on Amazon is a competitive domain, and thus the stakeholders must arm themselves with necessary data and insights to stay ahead of the competition.
Data-driven decisions will enable the sellers to get their business up and running. Data helps them strategize their product lifecycle and customer journey. It allows them to bring high-ranking products into the market, which opens the door for profitability.
Not only should Amazon sellers invest in the right tools to gather volumes of operational data about a system, product, or process, but they require tools that can help leverage easy-to-consume insights from the collected data. Efficient analysis and visualization of data results in statistically significant results that help make high-quality decisions. Implementing a data reporting model can help Amazon sellers actively track and measure sales and growth. The data reporting software must provide the sellers access to a dashboard that offers actionable insights about the brand performance on Amazon.
Implementing an Amazon all-in-one app dashboard software can help sellers view real-time data and proactively seize opportunities to grow their business on Amazon. The dashboard provides at-a-glance visibility into the current status of business performance. Thus, the stakeholders can actively chart the path ahead and optimize the chances of success. The sellers can combine all their BI tools and reports to get a single consolidated view with the right dashboard software. Thus, they can track KPIs, metrics, and key data points relevant to their Amazon business.
What is a Dashboard?
A dashboard is a powerful tool that helps Amazon sellers to get insightful data and centralize the KPIs in a single accessible location. Dashboards gather, aggregate, and organize critical project data in an easy-to-view format. It is categorized into three types: operational, strategic, and analytical.
- Analytical dashboards help process data to enable the stakeholders to identify trends.
- Strategic dashboards allow them to track the key performance indicators (KPIs).
- The operational dashboard helps monitor real-time or transactional data against the KPIs. These dashboards are most commonly used, and it supports daily workflows. It consists of contextual information that supports decision-making.
Dashboarding for Amazon Sellers
Amazon sellers can stay on top of their activities, priorities, workflows, and deployments using the dashboard tool. It provides concise summaries by displaying the crucial data against the metrics to evaluate business performance. Thus, leveraging the information from dashboards, the stakeholders can maintain efficiency and consistency in business processes. Often the dashboards are available in a customizable format, allowing the sellers to create unique tab views to separately view and track various areas of their business, like customer service, sales, PPC campaigns, among others. Amazon sellers most widely use customer experience dashboards. It facilitates a fast and comprehensive evaluation of customer experience, thus enabling the stakeholders to determine which areas they are lagging and where they must focus their efforts. Dashboards also support long-term use cases for planning and forecasting to visualize business growth.
How can an Amazon Seller choose the right Dashboard?
When choosing a dashboard software, there are various essential factors that Amazon sellers must consider.
- Integration: Determine how the dashboard integrates into your business infrastructure. You need to check how it connects to other tools. A dashboard with efficient integration capabilities can bring together data from various sources to present a consolidated view of data points.
- Customization: Ensure that the dashboard solution allows you to customize how you can view information. You can choose from various visualization formats, such as graphs, charts, and boards, and adjust its font, size, colors, among other things.
- Track KPIs: The KPIs Amazon sellers need to track differ from one business to another. Thus, the dashboard must allow the sellers to easily track the critical eCommerce, customer acquisition, sales, and profits KPIs.
- Collaboration: Depending on your team’s requirements, ensure that the dashboards allow the defined number of users to access the dashboard. It will facilitate better collaboration, leading to operational efficiency.
- User Experience (UX): The prospective Amazon seller dashboards should be easy to navigate. It must offer clear data visualization without any hint of ambiguity. It should show the most relevant data points based on preferences. The dashboard must support birds-eye-view visualizations to help you effectively monitor the performance of your product.
- Automated Reports: Ensure that the dashboard can automatically gauge your metrics’ daily, weekly, or monthly pictures and present them in a neat format. Check its automated report generation capability. It can thus take over the tedious, time-consuming processes and help you identify the market, customer, and sales trends faster. You can build visibility and respond to market trends more quickly with automated reports. It allows you to competitively price your products and develop a healthy pure profit margin (PPM).
The right dashboard can function as an information management tool for Amazon sellers to proactively monitor their performance and optimize decision-making. Thus, they can use data and analytics to improve their bottom line in the competitive market.