Building an e-commerce platform is an impressive achievement, but you need to analyze its growth. If you have Magento Advanced reports, it will help in getting insights about the business and figure out potential sections to generate leads. There is a rich collection of Magento extensions available in the market that offers extensive reports and details about the e-commerce store. There are various types of reports that are build using the Magento advanced reports:

Sales Reports

This section handles reports related to shipping, tax, coupons, refunds, invoices, payment, and orders.

Product Reports

This report revolves around few things related to the products on your e-commerce website namely stocks, ordered, views, bestseller, and downloads.

Customer Reports

These deal with the customer data and helps in understanding them in deep. Customer reports will surely help in boosting sales and update the e-commerce store as per their expectations.

Review Reports

This section collects data about the product reviews where admin can apply filters based on the products and customers.

Marketing Reports

These reports include information about the status of your e-commerce shopping cart. They also display the usage of search terms and newsletter transmissions.

What is an Advanced Report Extension for Magento 2?

E-commerce platforms always need an analytical tool that helps in tracking the progress and updating the negative section if any. This extension helps in generating dynamic reports based on the orders, products, and customer data. It provides accurate reports by focusing on each element of the business. Some key features of this Magento extension are:

• Gives summary reports that are important for boosting sales of your e-commerce store like the best-selling product, most viewed products, products that are not gaining attention.
• Get detailed reports about the transactions on your e-commerce store
• They can access reports through Email using the extension features
• Admin has the freedom to configure the reports that they want to view from this extension
• It enables installation and uninstall without disturbing an existing module
• Reports will display the traffic and conversion rate in this extension
• These reports help in providing better customer experience

What features should a Magento Advanced Report extension include?

Advanced Dashboard

A user-friendly dashboard will help in easing the management process and make decisions faster. It should have all the key factors in one place like:

• Sales Revenues
• Customers
• Discount
• Gross profits
• Products ordered
• Cart Size
• Cart Value

Mobile Responsive

Having a dashboard that is accessible through mobile devices helps in getting information about the business anytime and improve the performance.

Add filters in report 

The Magneto extension should enable adding filters into the report result. This feature allows in getting custom reports and better insights about the business performance.

Product Characteristics

This helps in understanding the products closely based on their color, size, or other characteristics. By understanding the trends of customer purchase you can decide which product will gain more attention and generate leads.

Analyze data in Real-time

E-commerce store is a dynamic platform that means you will need the analysis of real-time data to know the current scenario of the business.

Product Analysis

In the product reports you can add filters to look at specific products’ data. This report includes the amount of products sold, total discounts, refunds, profit gains, and more data.

Analyze Sales

The Sales performance report helps in understanding the issues that are affecting the Magento store. Focusing on these issues and resolving them might help in gaining advantages in the e-commerce store. 

What will be a successful sales strategy for a Magento store with a reporting tool?

●    Get the whole idea about your Ecommerce store 

Magento Advanced Report extension provides the key elements and important sales data in real-time. These important statistics helps in understanding the e-commerce store performance effortlessly. It has an easily accessible dashboard which means you will be able to customize the data, measure the conversion rates, sales overview, current best-selling products, and view the latest orders placed.  

●    Analyzing the Sales Activities

View the sales analytics using the Magento Advanced Reports extension to get detailed statistics about your e-commerce store. Admins get access to the sales data with various filters like:

• Sales by Week
• Sales by Customers
• Sales by location
• Order places

There are various other dynamic elements that affect the sales report. As a business owner you need to keep a track on each element to increase the sales of your e-commerce store.

●      Track the product statistics

It is essential to track the product related data to know which products are gaining users’ attention and generating more leads. Look at the customer’s purchase behavior, which will let you know they prefer which brand and customize the platform accordingly. The Magento Advanced Reports extension will let you look at the reports with below filters:

• Sales by Brands
• Bestseller Report
• Sales by product
• Product Performance
• Sales by product attributes

●    Track Customer Behavior

Get a better understanding about the customers that are approaching your website with the Magento 2 sales reports. Focus on the reasons that are leading to bounce rates or cart abandonment on the platform. The reports can help you in analyzing the below factors:

• New Customers
• Returning Customers
• Abandonment Rate
• Conversion rates

Wrapping it up! 

The Magento Advanced Reports is a great solution that can help in improving the e-commerce store performance. The right Magento extensions will help in getting precise data and flexibility to customize the reports.