Business Intelligence Marketplace: Challenges & Benefits

The Benefits of Using Business Intelligence for Marketplaces

Business intelligence offers numerous advantages in the context of marketplaces and their intense competitiveness. Firstly, it enables business owners to make more informed decisions using real-time, up-to-date data.

For instance, sellers can collect data on prices, margins, and conduct in-depth comparisons. This allows them to optimise their pricing during regular repricing campaigns.

This effective management of data and competitor performance is a key success factor. Marketing and e-commerce teams can use BI tools to identify unique opportunities and implement targeted strategies.

Marketplace trends, emerging markets, anticipating needs: all these tools significantly accelerate the growth of an online store.

Key Features of a Marketplace BI Solution

To help you excel as an e-commerce seller, marketplace business intelligence solutions offer numerous useful features. The goal is to collect and analyse data from various sources or websites. The more catalogues the chosen solution connects directly to, the easier it becomes to leverage this data to maximise your sales strategy on marketplaces. To achieve this, the marketplace BI solution uses a series of crawlers (robots capable of scanning competitors’ pages) to extract the most up-to-date information without requiring an API.

The tool allows sellers to monitor their competitors with near-constant updates on key information such as prices, stock levels, promotions or discounts, and even customer reviews they’ve collected. Ideally, it should also aggregate this extensive data and KPIs (key performance indicators) into efficient and customisable dashboards.

This competitor performance analysis makes it easy to identify areas for improvement for your brand. With the right tool, you can generate detailed reports on sales, product data, or results achieved after an advertising campaign. Forecasting and modelling become more accessible, enabling price and offer adjustments. This allows you to quickly optimise the revenue and sales of each product.

If you’re looking for a truly effective marketplace BI solution, choose software that supports integration with other tools. This feature is essential for managing your various ERP, CRM, and e-commerce operations more smoothly. Synchronise your products, offers, and order management dashboard in just a few clicks to sell on multiple marketplaces without complicating your business operations.

NetRivals and NetMarkets: Lengow Solutions to Boost Your Performance

Have you heard of NetRivals and NetMarkets? These are two powerful marketplace BI solutions offered by Lengow. Discover their full potential and let them guide you in boosting your online performance effortlessly. Here’s a quick overview of their integrated features.

NetMarkets

Manage over 70 international marketplaces centrally.
Access enriched product catalogues automatically from various marketplaces in your field.
Simplify your order management process through synchronisation and automation of product listing processes.
Resolve listing errors seamlessly with an overview.
Track your performance using historical data and statistics.
Integrate different e-commerce platforms seamlessly without any risk.

Discover NetMarkets

NetRivals

Monitor your competitors across multiple marketplaces and channels while gaining increased granularity in the accuracy of the data collected.
Identify identical and similar products and product categories to your own in order to adapt your pricing or marketing strategy.
Easily analyze prices, stock levels, and the web page content of your competitors and the marketplaces where they sell.
Access new repricing strategies tailored to the data gathered on your competition.
Receive personalized market analysis reports, as well as a comprehensive view of your competitors’ entire product ranges.
Connect to a vast database to take your analysis further than ever before.

Discover NetRivals