Anita Erasmus | Head | Business | Bob Group | mail me |
Are your data dashboards delivering real value for your business, or are they just smoke and mirrors? You can assess this vital e-commerce supply chain component by following these tips.
Almost all studies reveal that 90% of information reaches the brain visually. As a result, data visualisation has become crucial for e-commerce business intelligence.
Consumer demand continues to rise alongside emerging technologies. Businesses now require software that identifies patterns and enables fast, effective responses. Without a data dashboard, firms risk poor decision-making.
Adoption of data dashboards for e-commerce
South Africa’s e-commerce sector is expanding rapidly. For example, World Wide Worx’s 2024 report shows online retail surged 29% last year to reach R71 billion.
Industries increasingly adopt data dashboards. For instance, digital-only GoTyme Bank partnered with Keyrus to boost data visibility and optimise operations. The importance of data quality for sound decision-making. Accurate data combined with intuition enhances decisions and leads to better outcomes.
Supply chain partner management requires more than intuition. Businesses must use data to measure performance accurately and drive consistent improvements. Certain metrics must be tracked on dashboards, especially for last-mile deliveries, a key e-commerce service.
Using data dashboards to monitor delivery partners
Delivery costs rank among the largest expenses for e-commerce stores. Businesses must monitor delivery partners for both performance and cost-effectiveness.
Key metrics to monitor on data dashboards for e-commerce include:
- Average cost per shipment to measure typical shipping expenses.
- Average order weight per shipment, influencing shipping costs.
- Average return shipment cost to track returns expenses.
- Average shipping income earned from customer fees.
- Average delivery time per service level to gauge efficiency.
- Time between booking and collection to track operational speed.
- Delivery success rate to ensure quality service.
Streamlining delivery efficiency
Data dashboards face challenges with accuracy and timeliness. Errors, outdated information, and biases can compromise data accuracy. Regular audits and robust validation improve data reliability.
Timeliness also requires improvement. Delays in collection and processing hinder real-time data. Automating entry and using real-time analytics enhance timeliness. E-commerce businesses must track their own data alongside supply chain partners’ metrics. This comparison helps identify discrepancies and correct mistakes.
Businesses are advised to start with simple data analysis. Measure basics first and expand as your business grows. Businesses are warned against overloading data that causes confusion. Finally, businesses should focus on clarity. Decide what to measure and track those metrics consistently.