In the ecommerce world, data is everything. Without it, business owners would be flying blind and making decisions without knowing what works and what doesn’t. Thankfully, we have analytics to help us make informed decisions based on real data. In this guide, we’re going to be using Super Chain and Excel, two powerful data analytics tools for Shopify stores. With analytics, you’ll be able to see how your store is performing from top to bottom, and make changes that will increase your sales and revenue!
Data Analytics tools
Data analytics tools are software applications that allow you to analyze data, find trends and patterns, and make predictions. They can help you understand your business better, improve your marketing efforts, and make more informed decisions.
There are a number of different data analytics tools available, but some of the most popular ones include Excel, Tableau, SPSS, and R. However, they can be complicated and difficult to use for people who are not familiar with them.
Use Excel to analyze Shopify store data
While Excel is a fantastic tool for basic data analytics, there are some potential drawbacks to be aware of.
One downside is that Excel can be easily fooled by incorrect or incomplete data. This can lead to inaccurate results and analysis.
Also, Excel is not designed for large amounts of data, so it can become slow and unwieldy when working with big data sets.
Finally, Excel lacks some of the more advanced features and functions found in specialized data analytics tools, so more complex analyses may require using other software programs.
Let’s try to use Excel to simulate some of the functions of Super Chain.
Analyze your shop!
Analyzing Order Trend
Our target:
Step 1: Sort dataset by date
a. Select the column of date
b. Go to “Home” -> “Sort & Filter”
c. Select “Sort A to Z”
Step 2: Filter data to a specific month
a. Select the column of date
b. Go to “Home” -> “Sort & Filter”
c. Select “Filter”
d. Go to “Text Filter” -> “Begins With”
e. Enter the Year and Month
Step 5: Calculate the Monthly Sales
a. Select a cell
b. Go to “Home”
c. Click AutoSum
d. Select the cells of Sales
e. Press Enter
Step 6: Calculate the Monthly Shipping Cost
a. Select a cell
b. Go to “Home”
c. Click AutoSum
d. Select the cells of Shipping Cost
e. Press Enter
Step 7: Calculate the Monthly Profit
a. Select a cell
b. Type an equal sign “=” to start the formula.
c. Select the cell representing the Monthly Sales
d. Type “-”
e. Select the cell representing the Monthly Shipping Cost
d. Press Enter
Step 8: Repeat Step 2 to 7 manually for other months
Step 9: Clear Filter From “Fulfilled at”
Step 10: Create graph
a. Highlight the cells that contain the data you want to use in your graph
b. Go to “Insert” -> “Combo chart”
Here is the result:
We cannot stimulate this graph. Why?
This reason is simple, Excel does not support adding multiple series to the combo charts as lines. Therefore, Excel might not be able to conduct deep analyses like this.
Analyzing Daily Ad Spend VS Sales
Our target:
Step 1: Create graph
a. Highlight the cells that contain the data you want to use in your graph
b. Go to “Insert” -> “Scatter chart”
Step 2: Add Trendline
a. Go to “Chart Elements”
b. Click “Trendline”
Here is the result:
Use Super Chain to analyze Shopify store data
Super Chain is the E-commerce KPI Analytics for E-commerce sellers, which is empowered by advanced AI Algorithms.
By performing in-depth Ad Campaigns Analysis, Competitor Analysis, Customer Analysis, Profit Analysis, and Operation Assistant, Super Chain can then provide insight for you to Optimize your ad campaigns, Increase ROI on business performance, Increase LTV and customer retention, and Lower the customer acquisition cost.
Analyzing Everything (At ONCE)
Simply give us your Shopify key and let us integrate all data in seconds.
Conclusion
As you can see, analyzing with Excel is much more complicated and has some limitations.
Excel might be a good choice for small data sets and basic analysis, but for more complex analysis, you will need to use other software programs.
Super Chain, on the other hand, is designed for eCommerce sellers and can handle large data sets with ease. It also has many features that Excel lacks, such as Ad Campaigns Analysis, Competitor Analysis, Customer Analysis, Profit Analysis, and Operation Assistant.
If you are looking for a comprehensive data analytics tool for your Shopify store, we recommend using Super Chain. Try it for free today!”’