Magento Acquires RJMetrics
Magento Commerce today announced its acquisition of cloud-based analytics platform RJMetrics. With its emphasis on digital commerce and business intelligence, RJMetrics will provide Magento Commerce users with actionable data and insights into customer behavior, merchandising, and channels through a built-in solution—to be named Magento Analytics—that complements its existing analytics extensions for Magento.
Channeling input from multiple data sources into a central data warehouse, RJMetrics offers users a number of features designed to simplify the process of gaining insight into customer behavior. The platform allows users to set up reports that automatically update, and users can schedule email updates that deliver copies of reports to teams on a regular basis. Privacy controls enable users to manage access to metrics, charts, and dashboards at various levels, and the solution's user interface features drag-and-drop metrics, one-click filtering, and chart customizations. Finally, the platform is equipped with a range of prebuilt database and cloud integrations.
Aimed at non-technical business users in both B2B and B2C organizations, Magento Analytics delivers insight from enterprise-grade data sets with the goal of consolidating and analyzing data for multibrand, cross-channel reporting. The solution aims for simplicity, looking to minimize the need for IT support and the time taken for configuration.
"Analytics has to move in the same way the automated email business has. It needs to be seamlessly integrated into the work the average commerce company is doing during the day," Mark Lavelle, CEO of Magento, told CRM Magazine via email. "Magento Analytics doesn't require IT support and considerable time to configure—it lets non-technical businesses quickly and easily integrate data to help them merchandise better and target buyers, while also providing advanced reporting capabilities. In addition, Magento SI partners can help set up and optimize the service and provide assistance with more advanced services as our clients' businesses scale."
Magento Analytics has a number of key capabilities that are built off of RJMetrics' functionality. The solution delivers analytics around customer lifetime value, repurchase rates, and inactive customers, and it features marketing campaign ROI with insights into campaign performance. Along with segmentation and personalization capabilities, it provides insight into item, page, placement, promotion, and channel performance. Finally, it allows for integration with the Magento Commerce Order Management solution, which looks to improve sales and margins with cross-channel fulfillment and inventory balancing.
"Analytics is becoming table stakes for digital commerce, and the acquisition of RJMetrics will allow Magento clients to have access to a powerful, integrated analytics package," Lavelle says. "With basic analytics, they may know which items sell well or which pages are viewed the most, but they have no idea how their customer segments differ, what the lifetime value of those customers is, how to reach them in a more personalized way, and intelligently spend their marketing dollars to do it. Magento Analytics solves this issue by providing merchants with a holistic, powerful view of the customer journey that allows them to find and keep new customers and sell more."
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