eStoreCheck's OneNumber Dynamics - the Fitness Tracker, for Business
December 20, 2017
Few categories of products can escape the impact e-commerce has brought to retail. The fact is, buying and selling online has become the fastest growing sub-channel of retail in the world.
10 out of 10 leading CPG (Consumer Packaged Goods) or EMS (Electronic Manufacturing Services) use services similar to eStoreCheck to monitor their performance in e-commerce. Many of these companies use multiple solutions, as different countries or product divisions have divergent needs. This usually results in multiple providers catering to local requirements.
The key challenge for an organization is not whether e-commerce analytics are necessary, but how the torrent of new daily data can be synthesized into immediate business insights.
Inventing the Fitness Tracker for Business
eStoreMedia is committed to continuous innovation, pushing the limits and creating cutting-edge solutions, which bring tangible value to clients' businesses. In November 2017 the latest feature was released eStoreCheck's OneNumber scorecard. This is the most advanced and customizable tool of its kind on the market.
The aim was to create a tool, which would enable a clear and swift command of all the central observations of a chosen range of metrics. In order to meet this aim, other types of mass adopted software was considered as a benchmark. It soon became apparent, how similar the notion of keeping a brand's market share healthy and competitive, is to the world of fitness trackers.
Fitness trackers form part of a growing $330 million industry and for good reason. They offer users the opportunity to track progress over time, set goals and keep them motivated to reach their goals. Diagnostic data, collected from many sensors are processed and delivered as simple, consolidated and actionable information like Garmin's Training Load measurement. The eStoreMedia Team consists of runners, riders, climbers, fighters or athletes. As much as sports, they love tech, and love pushing their limits. Competing against counterparts but also themselves is a daily quest. Quantifying and expressing this in a visual form can help move businesses one step closer to operating like a high-performance athlete or team.
Where fitness trackers generated roughly 100mb of diagnostic data per day per user, eStoreCheck, on the other hand, produces up to 8gb of data and ten times as many metrics. Crunching this amount of data to simplified actionable single number indicators was a challenge. Working closely with its clients eStoreMedia compared the metrics of fitness goals with that of competitive business strategies, producing very insightful and efficient results. After almost a year's research and development, a set of dynamic consolidated metrics was created in the form of OneNumber.
How it Works
When you open eStoreCheck's OneNumber section, it is possible to see a full diagnostic of the brand's e-commerce market status instantly. It is displayed as a series of color-coded OneNumber scores. These numbers are logically arranged, based on a client's strategic choices. In addition, these numbers are also complimented with dynamic indicators, which reflect how the results changed since the last period. Similar to sports trackers, clients can adjust these metrics to better fit the discipline they practice. Currently, there are over two dozen different configurable parameters and new ones on the way.
Consequently, each client receives their own set of strategy-relevant metrics together with custom targets and color coding schemes. Everything to stay relevant to the client?s focus areas and enable gap closing deep dives in just few mouse clicks.
Each metric is supported by a baseline graph, which displays the company's strategy progress, measured against goals over time.
7 Top Features
- eStoreCheck's OneNumber reflects a quantified strategy-implementation.
- Easy adjustments allow for versatility in the changing reality of fast-moving goods, e.g. launches of new products, while phasing out old ones, differentiating retailers on products or changing recommended shelf prices in time.
- OneNumber can be aggregated internationally and cross-categorically to provide top management with a single KPI to track progress.
- Ease of observing the dynamic OneNumbers' one click to see the change and another click to see long-term baseline graph
- Intuitive UI and UX interface, addressing all critical challenges of maintaining an optimized online product assortment catalog.
- Supports streamlining knowledge management processes to improve and capitalize on cross-functional team capabilities
- Improved ease of exporting vital information to various file formats for further reporting or documentation
The Bottom Line
Since execution is the only strategy that your consumers will see, make sure you implement your plan correctly. You may observe your progress as if you were watching your fitness improve and if there are issues, just fix them with a correct change in your efforts. Awareness of the results is the best motivator for progress. When you set goals for your strategies, OneNumber quantifies your success and instantly diagnoses where troubles may be. Adding more, or changing metrics to your eStoreCheck can be seamlessly integrated, saving valuable time.
Charles Darwin said only the fittest of species would survive, as they manage to adapt to their external environment and changes. Businesses depending on e-commerce, are no different. To survive in the modern age, where data is king, collecting market intelligence is vital. OneNumber is the ideal way to help identify opportunities, guard against risk and adopt more dynamic business strategies. Allowing a more fitness-like strategy will provide the momentum needed to maintain the pursuit of progress.
If your goal is achieving and sustaining brand growth in your organization, then this product could be the tool which can get you there.