This article was written by the team at CyberNews
81% of online shoppers look up products before purchasing. This is why it is crucial to have accurate and highly detailed product information on your eCommerce site.
However, product content is just one element of eCommerce data management. It also requires the efficient collection, storage, and use of all data.
What Is Ecommerce Data Management?
Ecommerce involves massive amounts of data that must be processed into useful information for brands. Product information alone could mean tens of thousands of details that must be correctly cataloged.
There is also the matter of customer information. For an eCommerce store to succeed, it must serve its customers better. And to do that, one has to get to know them. Data management includes collecting customer data and generating actionable marketing reports.
Ecommerce businesses also involve sales numbers, expense reports, and many more numbers that should provide accurate business data to determine revenue or losses and clarify the company’s financial situation.
With so much data to deal with, eCommerce companies must invest in efficient software for data management to maintain accurate and efficient operations.
More importantly, they should avoid common eCommerce data management mistakes.
Top Ecommerce Data Management Mistakes
In the digital age, businesses must be as tech-savvy as possible to remain competitive. Ecommerce data management should be taken seriously to avoid these common pitfalls:
1. Not Choosing the Right Tech
Ecommerce businesses must invest in high-end technology. Every user visit to an eCommerce site generates data that must be collected and analyzed, more so when a transaction is completed. The right tools ensure efficient data collection, storage, and analysis.
What are the important technologies to ensure safe, secure, and efficient data management?
Data and Information System
Data and information are terms that are often used interchangeably, but to be more technical about it, data are details that may not mean anything. It is only when data is processed that it becomes valuable information that can be leveraged for marketing and business growth.
For example, a person buys a product on Saturday. Without context, this is just a random fact. But when entered into a brand’s eCommerce database, it turns into useful information: 50% of clientele shop on Saturdays. The brand can work with this information to meet its business goals.
Cloud Data Management
With the wealth of data that needs to be stored and processed, eCommerce businesses need robust cloud data management.
Master Data Management
This system consolidates data for products, customers, supplies, inventory, and other details important to the business. It allows companies to exchange essential information for collaborations and transactions easily.
2. Software Dependence
Just because a business has invested in various tech tools to streamline processes doesn’t mean that’s all there is to success. Information gathered from software won’t matter if the business has no direction or a mission and vision to aspire toward.
Every business must have specific objectives so that information gathered from data management tools will be utilized to craft action plans, marketing strategies, and business solutions.
3. Lack of Data Management Focus
No matter how much eCommerce data you collect, without focus, it will not lead to anything. This is why you need business objectives, which must be the focus of the data management team.
The team is responsible for processing and analyzing data and conceiving strategies based on the set objectives.
4. Lax Data Security
If data is meaningless when not interpreted or analyzed, information may also turn into nothing when they are not protected. This is why eCommerce sites should protect their data with a virtual private network (VPN) service. The great thing about VPN is that it involves everything eCommerce data management needs: cybersecurity, geoblocking, encryption, and many others.
Find the right VPN for mac/macOS or whatever operating system you use for your business. Make sure the VPN is reliable and highly rated by other eCommerce sites.
It is important to note that any employee who accesses company information outside official computers must use VPNs, too, so as not to compromise sensitive data.
5. Establish Standards
Create a policy that every team member must follow when dealing with data management. While there is a team focused on managing data, many company members may have a hand in collecting and storing it. Because of this, a company must set specific guidelines that would ensure data management is efficient, and tasks like collecting and processing it are done correctly and securely.
While most data management tools make the process easier, employees have the responsibility to generate or input accurate data.
Proper Data Management Leads to Ecommerce Success
Data management will help eCommerce brands determine business strengths, weaknesses, and trends that could help owners and managers craft strategies to grow the business and attract more customers.
However, data management is prone to mistakes because of a misunderstanding of the nature of data and the unfamiliar technologies involved. Knowing about these common mistakes businesses make will help you avoid them going forward.