According to the report “B2C eCommerce Report United Kingdom 2018", the e-commerce market in the UK is still a powerhouse in Europe. In the UK 16.4 percent of total retail sales come from the Internet. Compared to 2016, this is an increase of another 1.7 percent. British consumers choose online shopping for several reasons. Above all, they are attracted by a wide range, the ability to compare prices and low delivery costs. What's more, almost half of consumers online use mobile devices to search for products and then move to their desktop to place an order. The low entry costs and the huge popularity of online shops mean that their number increases by a further a thousand each year. The basis for effective sales on the Internet is the monitoring of current activities. This task belongs to e-commerce analysts. What is their job? What skills are necessary in their daily work?
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The role of the analyst in the e-commerce industry
E-commerce analytics is a key element of every online shop's operations. Tracking consumer behaviour and preferences in the network and capturing market trends are inseparable elements that are used to measure the effectiveness of actions taken and increase their productivity. The specialists responsible for this are analysing and reporting current activities for management teams, which can thus make better business decisions and implement necessary improvements.
The scope of responsibilities of e-commerce analysts includes:
• analysing and interpreting key indicators in e-commerce, such as traffic sources and user behaviour,
• monitoring e-commerce trends,
• analysis of activities carried out by competitors,
• evaluation of the effectiveness of marketing campaigns,
• recommendation of business solutions based on data analysis and conclusions drawn from them,
• creating and developing tools enabling analysis and information processing,
• presenting the results of reports and graphical modelling of data.
Essential skills in the work of an e-commerce analyst
Increasing the efficiency of online sales through its in-depth analysis allows online shops to stay in an extremely competitive market. That's why the challenges posed by e-commerce analysts require them to have specific skills. Let's look at the key one!
1. Analytical skills
Undoubtedly, this is the most important skill of any analyst, necessary to measure the effectiveness and profitability of specific marketing activities. A good specialist in this position must first of all be able to collect all information regarding sales results in individual channels – on the website, in social media, in mobile applications, email marketing and more.
For this purpose, he needs knowledge of various analytical tools and the use of valuable sales parameters. The data obtained in this way, subjected to detailed analysis, are used to determine which activities are profitable for the online shop and which are worth focusing on, and which ones do not generate revenue and should be discontinued.
2. Knowledge of trends
An effective e-commerce analyst is a person keeping up with changes in the dynamically developing industry. Keeping up to date with the latest software, search engine rules or a revolution in social media provides him with access to up-to-date and complete information.
3. Flexibility of operation
The work of the e-commerce analyst requires great flexibility from him – the ability to manage various projects, track the results of activities carried out and document them. These skills are of decisive importance for companies from industries that carry out various activities, implement new solutions and constantly test their effectiveness. In the day-to-day work of the analyst, the ease of finding his role in the project, the unconventional approach to problem-solving and participating in the current meetings of various teams are appreciated.
4. Starting the initiative
The previous point is connected with another feature of a good analyst – initiating solutions and supervising their implementation. Data collection and analysis is not everything. It is equally important to come up with a proposal for changes to the other team members. The ability to recommend optimal solutions and necessary improvements within the site or business requirements is particularly useful in this matter. It is also important for the analyst to ensure that the proposed changes are implemented.
5. Highly developed communication
The work of an e-commerce analyst is not limited to measuring the effectiveness of marketing activities and recommending optimal solutions, but also to cooperate with all project participants – from graphic designers to board members. This requires specialists in highly developed communication skills, especially in the field of information transfer and negotiation of solutions.