When running a business, it reaches a point where you have many questions in mind. You need to figure out the exact source of your audience, and the general performance of the business. Entrepreneurs strive to analyze all the important aspects just to increase the conversion rate and enhance a better customer experience. Research has detected that most online stores enjoy a conversion rate of 3%.
The most fortunate thing is that all the answers to your concerns are always available within your Shopify store. There are many things that you need to evaluate in order to understand what matters for your business. The Shopify Reports and analytics are some of the things that you need to know about how they operate. Unfortunately, very few people understand more about it making it a big challenge to understand how a Shopify store works.

Everything You Need to Know About Shopify Analytics and Reports

After the end of your preferred period, it reaches a point where you need to sit down and note down the key metrics that you have been tracking throughout the period. Sometimes, you may realize that there is something to smile about, especially when you realize that you have recorded an excellent conversion rate over a given period. This is what is referred to as data reporting in the world of business analytics.

The Shopify reporting and analytics tool enable you to evaluate all the recent activities that have been ongoing within the store. They give you a clear picture of some of the milestones you have achieved and any existing gaps available that need to be filled to uplift your game in business. Also, it helps you understand some people who have been visiting your store for a given duration.

Even though this sounds simple, many people find it difficult to locate the Shopify reports. Once you open your Shopify store, you will see both the analytics dashboard and the reporting tool within the store dashboard. Note that you will get different reports depending on your Shopify plan. However, you need to understand that everybody can access the overview dashboard once they open their store.

Based on your subscription plan, you stand a chance to access other multiple reports that give you more insights into your business performance. Once you upgrade your Shopify plan, you will realize that you are getting access to more reports that provide a vast amount of data ranging from when you began using the store.

Types of Shopify Reports 

Once you open up your analytics report, you will realize that a lot of data within the dashboard is generated from your business operations. Analyzing this kind of data may be overwhelming, especially if you do the job manually. Below are the top types of Shopify reports you need to know!

Behavior Reports

The behavior report is mainly responsible for monitoring your customers' behavior once they access your store. The report gives you more information that you can utilize to revamp the store and create a better customer experience. Also, it can help you generate a better model of upselling your products and services within the target market.

The data you generate from the behavior report can help you analyze your weaknesses and strengths, allowing you to streamline your business operations to enhance customer satisfaction. In addition, it can help you identify the areas that need improvement within your business to ensure that all customers that match into your company are satisfied.

The behavior report also displays the speed of your online store, giving you a concise picture of the rate at which operations take place. It also monitors the conversion rate recorded over a given time, outlining the total number of visitors who entered the store within a particular duration. You can also identify some of the top online searches made by visitors enabling you to determine the best keywords to use in your strategy.

Marketing Reports

The marketing report creates a concise data outline that enables you to identify some channels that generate more traffic to the business, records a good number of sales, and a general report about how visitors interact with the outlined marketing strategies. This is the best option to help you identify the best marketing channels that you can capitalize on to enhance your business's success.

You can use data gathered from marketing reports to analyze the flow of traffic from different sources e.g. social media channels. Then you can use different visualizations like Sankey Diagram to show the flow of traffic. Flow diagrams like Sankey will help you to find the social channels which brings more result for you.

On your Shopify store, you will see different reports, such as the amount of web traffic mainly generated by various marketing channels the business uses. You will also be able to identify the number of conversions specifically recorded from first-time visitors. When you look at the data keenly, you will realize the difference between the first and last interactions.

Order Reports

The order report gives more information regarding the volume of orders placed by customers. It includes more details describing more about the order, such as the returns and the shipping time. This report can help you identify the best-selling products within your business that makes customers return from time to time. Once you have this information, you can then stock many of these products to ensure that all your customer needs are sorted.

The report helps you identify the customer satisfaction points you need to focus on to ensure that all your customers are satisfied. This gives you a competitive opportunity in business since you will have a detailed report of what is necessary to satisfy your customers and create a better business relationship going forward.

Customer Reports

This is a comprehensive report that gives you a chance to get more information regarding every customer that visited your Shopify store and their aim. It displays the average order count of every customer, and the total purchase and other activities carried out by the customers. Besides, this report can give you a concise idea of how to segment your customers when tailoring your marketing strategies.

The customer report can help you identify the first-time and returning customers, allowing you to compare the orders that every customer placed. You can as well evaluate the number of customers who come from a particular location, among other vital demographic aspects. This information can help you identify some of the areas you need to capitalize on to secure more potential customers.

Final Word 

Many people are running Shopify stores, although they do not know how to use the reports and analytics section. Learning how to use the data displayed in the reports gives you a competitive opportunity in business, enabling you to identify what needs to be done to enhance the business's success. According to the research conducted this year, most Shopify stores record a conversion rate of 1.9%. This rate can only increase once business owners understand that Shopify analytics boosts sales.