The PISPA project aims to develop an online platform service that facilitates unmet needs in the current e-commerce model: namely data sharing and analytics.
Plytix Analytics is a powerful visualization tool for product data that pulls in data from multiple store fronts using a Google Analytics integration as its preliminary source of data.
Problem & Solution
Today, it is very difficult for businesses selling goods online to get accurate statistics about their product performance because they need to piecemeal information together and also work with incomplete data sets due to lack of shared information between brands and their retailers. The type of information that can be gathered will be conversions, add/remove from cart, impressions throughout the funnel (category pages, product pages, checkout pages…etc.), plus the shared information from different channels and products for comparison and cross-referencing.
The main challenges we have identified are:
- There is a lack of technology available that help retailers and brands share performance data
- Brands suffer from lack of uniform data and collection methods
- Deep product analysis is neglected due to its time-consuming nature
- Insights, if gathered, are often difficult to act on or know how to act on
- Brands and retailers lose sales due to improper reporting and poor online strategy due to lack of global digital understanding
- Brands have a limited understanding of their marketing efforts because they are unable to see how campaigns are affecting sales and interest across their online channels
PISPA is going to develop a new analytics tool that will facilitate the sharing of data between brands and retailers, and also help collect data at a product-level. The valuable insights that users will be able to extract will allow them to:
- Optimize their supply chain through product data performance sharing in a uniform way
- Provide a single platform from which to share data painlessly and instantly
- Give brands and retailers the ability to segment data based on product attributes quickly and dynamically
- Give brands a global snapshot of their product performance by pulling in data from owned and third party channels
This product differentiates itself from current products in a few important ways:
- CROSS CHANNEL PRODUCT DATA – Companies selling online can pull in data from any owned and third party channels using the system. Many brands have multiple storefronts per brand or region. They can also get their retailers’ performance data in the same dashboard.
- INSTANT DATA SHARING – The Plytix Analytics platform sets up an infrastructure where retailers can instantly share product metrics with their brands without creating custom reports.
- SEGMENTATION – Users can customise their data segmentation in a way that makes sense by creating product and channel groups. Product lists are created using filtering so that users can create segments based on any product attribute they want to (color, size, sale price, material…)
- FOCUS ON VISUALIZATION – We provide users an easy to use interface where they can quickly get snapshot of their global product performance, instead of the more complex analytics systems out there.