Is Google Analytics ready for a competition?
We ask because Magento recently acquired RJMetrics, a data analytics software company which is Magento’s first acquisition since its split with eBay.
Although we like Google Analytics, and have in fact released a tutorial on setting it up in Magento, we couldn’t ignore RJMetrics’ more advanced reporting capabilities.
To be marketed as Magento Analytics, RJMetrics is sure to benefit thousands of business owners who are using the Magento platform.
Helping businesses understand their customers’ mindset is RJMetrics’ forte, knowing that this is the key to selling more and improving their ROI.
It also has the ability to measure the revenue of a business and record sales channels where the majority of their customers come from.
In line with their acquisition of RJMetrics, Magento’s CEO Mark Lavelle sent out a letter to the Magento community, which states:
“Our primary strategy for growth and innovation remains building products and forming partnerships to distribute, extend and enhance the Magento platform. But as an independent company, acquiring other businesses or assets is a new capability we can use to grow and extend the Magento platform.”
Click here to read his entire letter.
Why Magento Analytics is better than Google Analytics
In an interview with the Internet Retailer website, Mark said Google Analytics doesn’t offer much information that could help a business increase its revenue.
“Google Analytics lets retailers look at metrics like page views and conversion rates,” he remarked.
To him, a reliable analytics solution delivers in-depth data analysis, which a business can use to improve their marketing, promotional and campaign strategies.
Looks like Magento Analytics fits the bill as recording the rate of repeat customers, churn rate and average order value of a business are just among the many things that it can do.
How do you feel about the new addition to Magento? Feel free to post your thoughts in the comments box below.
To your continued success,
Dave & Matt