Dec 6, 2024
TLDR
The article outlines essential eCommerce analytics tools for Shopify and Amazon, highlighting their features and benefits. Key tools include Google Analytics, Airboxr, Triple Whale, Lifetimely, BeProfit, and more. A spreadsheet vs. dashboarding analysis framework will help you decide which tool might be best for you.
Businesses operating on Shopify and Amazon today have a wealth of options when it comes to ecommerce analytics software. But when looking for the right platform, users often miss out on the most important question:
“Will this tool help me make good decisions?”
While there are many factors involved in choosing the right analytics software, we highlight the main considerations in this article. By the end of this read, you’ll be able to make a very informed decision on which analytics tool works best for your ecommerce store.
Why Use Analytics Software?
Every platform in an ecommerce tech stack will have its own level of analytics. So why do we need a separate tool?
The main reasons are:
Single Source of Truth—While all your platforms have their own native analytics, combining and comparing numbers across these platform is usually a pain. Standalone analytics tools give you the power to consolidate key metrics across the different platforms you use in your ecommerce business.
Specific Types of Analysis—Analytics tools bring forward insights into your business that are specific to your unique business needs. Whether you’re looking at growth marketing, retention, revenues and finances across the board, or focused on profitability analytics, you’ll find something to suit your needs.
Deeper Insights into the Business—The right analytics tools can help you answer questions you can’t answer yourself, and in some cases, hadn’t even thought of. When choosing an analytics tool, look for the types of insights they provide. Plus, the more customizable the tool is, the more powerful to give better insights.
Choosing Your Analytics Approach
Not many people talk about this, but there are two ways you can approach your analytics: by prioritizing spreadsheets, or by prioritizing dashboards.
This isn’t to say that you can’t have both. The distinction here is in which one is more important to you.
Unsure of which approach is right for you? Here’s a quick breakdown of the differences:
We go more in-depth into the differences below:
Spreadsheet-First Approach
The spreadsheet-first approach, adopted by tools like Airboxr, emphasizes total control over data. Rather than working within the constraints of a pre-built dashboard, businesses can pull data directly into spreadsheets, giving them complete freedom over data manipulation, custom metric creation, and personalized reporting. You are a spreadsheet-first user if you:
Frequently download and manage data using CSV files.
Build custom formulas and scripts to manipulate data.
Regularly redefine or customize metrics for specific analyses.
Regularly perform manual data checks, cleaning, and validations for accuracy.
Rely on tools like Excel or Google Sheets for flexibility.
Benefits
This approach is ideal for teams that need to create complex, customized metrics that don’t fit into standard dashboards. With full control over the data, users can build highly specific analyses and adapt them as business needs evolve. It also allows businesses to retain data flexibility and avoid limitations imposed by dashboards, which can sometimes be rigid or vendor-locked.
This output can also be connected to a BI tool like Looker Studio to create custom business dashboards.
Best For
This approach suits growth-stage companies, analysts, and teams with complex reporting needs or those requiring a flexible analytics solution. It’s also perfect for companies that want future-proof skills in data manipulation and analysis.
Dashboard-First Approach
The dashboard-first approach, popularized by tools like Triple Whale, Databox, and Polar Analytics, offers quick setup, visually appealing insights, and ready-to-use metrics. These dashboards are designed to present data in structured formats, which can be easily shared across teams and viewed at a glance, making it accessible for non-technical stakeholders. You are a dashboard-first user if you:
Depend on visual dashboards for quick insights.
Use pre-built metrics and visualizations provided by analytic tools.
Value real-time updates and automation over manual customization.
Focus on trends and big-picture over granular data manipulation.
Benefits
Dashboard-driven analytics provide a simple, structured view of business performance, often with built-in, industry-standard metrics. This approach is ideal for businesses that need fast insights and streamlined reporting without requiring extensive data manipulation.
Limitations
However, dashboard-first analytics can sometimes fall short in flexibility. Since the metrics and layouts are pre-determined, businesses may find it challenging to make custom modifications. Data manipulation is typically limited, and certain key metrics may be vendor-specific, potentially leading to vendor lock-in.
Best For
This approach works well for businesses seeking straightforward reporting and quick insights. Teams that rely on standardized metrics and frequently share reports with non-technical stakeholders will benefit from the clear visualizations dashboards provide.
Understanding Platform Analytics
Before we look at comprehensive third party analytics tools, let’s first review the native analytics features available on our favorite ecommerce platforms.
Shopify Analytics
Shopify offers a range of analytics options through its native tools, segmented primarily by the merchant's plan. At its core, Shopify Analytics provides essential reports and metrics that help sellers understand their sales, customer behavior, and product performance.
Key Features
Overview of native analytics tiers: Shopify's analytics are tiered based on the subscription plan—Basic, Shopify, and Advanced, with the most comprehensive tools available in Shopify Plus
Reports and metrics available: Sellers can access various reports including sales, customer, and marketing reports, providing insights into areas such as order details, customer acquisition sources, and overall store performance
Data retention and limitations: Data retention policies vary by plan, with longer retention and more detailed data accessible to higher-tier subscribers
Advanced analytics in Shopify Plus: For high-volume merchants, Shopify Plus offers advanced features such as custom report building and increased data granularity
Amazon Seller Central Analytics
Amazon Seller Central provides a robust suite of analytics tools designed to help sellers maximize their presence on one of the world's largest online marketplaces.
Key Features
Business Reports structure: These reports offer detailed insights into sales, traffic, and product performance, structured to help sellers identify trends and optimize their listings
Brand Analytics capabilities: Available exclusively to registered brands, this feature provides data on keyword searches, competitor performance, and customer demographics
Search term insights: Sellers can analyze which search terms drive traffic to their listings, aiding in better keyword optimization and advertising strategies
Analytics limitations: While extensive, Amazon's analytics can sometimes be overwhelming and may require additional tools for effective strategic decision-making
Choosing Your Analytics Platform
Now that we’ve seen what capabilities the native analytics of our most-used ecommerce platforms can offer us, let’s turn to the variety of third-party analytics tools available for Shopify and Amazon stores.
Below is a selection of analytics tools focused on different types of use cases (e.g. core business, financial reports, customer analytics). Typically, users looking at core business analytics tend to prefer spreadsheet-first analytic tools like Airboxr or Supermetrics, while users more focused on individual use cases tend towards dashboard-first analytic tools like TripleWhale and Daasity.
Spreadsheet-first Analytics tools
Airboxr
Airboxr transforms traditional data analysis with its unique spreadsheet-first approach, offering unparalleled flexibility in data manipulation and analysis directly from e-commerce platforms like Shopify and Amazon and different ad channels.
Airboxr also features its own AI to help users summarize and gain insights on key reports, navigate and select which reports best answer their specific questions/interests, and provide the best actionable recommendations on what steps to take.
The spreadsheet-first approach of Airboxr complements the other financial analytics tools by providing maximum flexibility and customization for teams already working directly in spreadsheets. This allows for deeper, automated analysis beyond the capabilities of pre-built dashboards.
Key Features
Direct data pulls into spreadsheets for hands-on analysis.
Pre-made reporting templates to suit your reporting needs.
AI to interpret your reports data and provide suitable recommendations.
Freedom to manipulate and analyze data using Google Sheets without the constraints of traditional dashboards.
Customizable reports that can be used to build Looker Studio dashboards.
Custom report requests to suit your business’s unique reporting needs.
Data Sources: Shopify, Amazon, Amazon Ads, Facebook, Google Ads, TikTok Ads, Google Analytics, Klaviyo, etc
Best for: Businesses that prefer the versatility and direct control of their data for detailed, custom financial analysis, particularly for marketing, operations, and profitability tracking.
Pricing: Starting at $49 per month for businesses making under $300k/year, with various tiers providing more advanced features and larger team access, catering to businesses from startups to large enterprises.
Supermetrics
Supermetrics simplifies the process of data consolidation by funneling marketing and sales data into platforms like Google Sheets and Data Studio, facilitating streamlined reporting and insightful analytics.
Key Features
Data transfers into reporting platforms
Integration with a wide range of advertising platforms and data sources
Simplified reporting templates for quick insights
Data Sources: Google Analytics, Google Ads, Facebook Ads, LinkedIn Ads, Twitter Ads, Shopify etc
Best for: Businesses that manage multiple advertising platforms and require a unified reporting environment to analyze and optimize their marketing strategies effectively.
Pricing: Subscription plans start at $210/ per month for the most basic ecommerce package, with more comprehensive options for businesses that need additional connectors and enhanced data capabilities.
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Dashboard-First Analytics Tools
Let's first dive into our favorite (!) traffic analytics tool first before we jump into ecommerce.
Google Analytics 4 (GA4)
Google Analytics 4 represents the evolution of web analytics, offering comprehensive tracking and analysis capabilities essential for modern ecommerce businesses. While not an ecommerce platform on its own, it tracks traffic and conversion metrics on your ecommerce websites according to its own methods.
Key Features
Cross-platform tracking for web and mobile applications
Machine learning-powered insights for predictive metrics
Custom event tracking and reporting capabilities
Advanced audience segmentation
Seamless integration with Google Ads and other Google products
Data Sources: Website and mobile app data, Google Ads, Google Search Console, and BigQuery.
Best for: Businesses of all sizes seeking detailed insights into user behavior, marketing performance, and conversion optimization. Particularly valuable for multi-channel retailers who need to understand customer journeys across various touchpoints.
Marketing analytics tools
Triple Whale
Triple Whale offers robust analytics tools tailored to ecommerce businesses, providing a comprehensive view of revenue streams, marketing efficacy, and customer lifecycle.
Key Features
Visual and actionable insights into marketing channel attribution
Optimization tools for ad spend effectiveness
Cohort analysis to enhance customer retention
Customer lifecycle tracking to increase lifetime value
Data Sources: Shopify, Facebook Ads, Google Ads, Klaviyo, etc
Best for: Ecommerce businesses looking to optimize their marketing efforts and understand detailed customer behavior patterns.
Pricing: Paid plans start at $299 per month for businesses doing under $600k/year, with advanced features available in higher tiers for larger businesses needing more comprehensive analytics solutions.
Daasity
Daasity is designed for multi-channel ecommerce businesses seeking a central hub for comprehensive data analysis and strategic decision-making.
Key Features
Custom metric creation for tailored analytics
Historical trend analysis for market forecasting
Cross-channel performance analytics to identify growth opportunities
Seamless integration with sales and marketing data sources
Data Sources: Shopify, Amazon, BigCommerce, Klaviyo, Facebook Ads, Google Ads, etc
Best for: Businesses requiring a unified data warehouse to integrate and analyze data across multiple ecommerce and marketing platforms.
Pricing: Custom pricing with scalable solutions for growing businesses.
Glew
Glew delivers multi-channel data aggregation and analytics to provide deep insights into product performance and customer behavior for ecommerce businesses.
Key Features
Comprehensive product performance analytics
Customer behavior analysis to tailor marketing efforts
Multi-channel aggregation for a holistic business view
Data Sources: Shopify, Magento, BigCommerce, WooCommerce, Amazon, eBay, Google Analytics, Facebook Ads, Klaviyo etc
Best for: Ecommerce stores using multiple platforms looking to streamline their operations and enhance decision-making through data-driven insights.
Polar Analytics
Polar Analytics offers a comprehensive suite of tools for analyzing customer segments, behaviors, and cross-platform insights, enhancing data-driven decision-making.
Key Features
Performance tracking across different customer segments
Behavioral analytics to understand customer interactions
Retention measurement tools to assess and improve customer loyalty
Data Sources: Shopify, Amazon Seller Central, Klaviyo, Facebook Ads, Google Analytics, etc
Best for: Businesses of all sizes looking to gain a comprehensive understanding of their customers across multiple channels and platforms.
Pricing: Basic plans start at $300 per month, with options for larger businesses that require broader data integration and more detailed analytics.
Databox
Databox provides an intuitive platform for aggregating data from various sources into customizable dashboards, offering real-time insights and performance tracking to optimize business strategies.
Key Features
Customizable dashboards for tailored visual data presentation
Alerts and insights delivered directly through mobile devices and desktop
Easy integration with multiple data sources for comprehensive analytics
Data Sources: Shopify, Google Analytics, Facebook Ads, HubSpot, Salesforce, Stripe, QuickBooks, and many more
Best for: Businesses of all sizes that need dynamic, real-time monitoring of their operational, sales, and marketing metrics through an easy-to-use dashboard.
Pricing: Databox offers a free plan with basic functionality with paid plans starting at $80 per month for a complete ecommerce setup subject to increase based on number of features required.
Financial Analytics Tools
BeProfit
BeProfit provides a detailed breakdown of ecommerce finances, offering precise analytics to optimize profitability through better understanding of revenue, expenses, and marketing ROI.
Key Features
Comprehensive revenue and expense tracking
Marketing ROI analysis to optimize ad spend
Detailed profit margin breakdown by product and channel
Data Sources: Shopify, WooCommerce, Amazon, Facebook Ads, Klaviyo etc
Best for: Ecommerce businesses focused on maximizing profitability by closely monitoring and optimizing their financial metrics.
Pricing: Plans start at $49 per month, with additional fees based on orders and features required.
DataHawk
DataHawk provides robust market analysis tools designed to give ecommerce businesses a competitive edge through deep insights into market share, pricing strategies, and category performance.
Key Features
Market share tracking and analysis
Detailed category and performance metrics
Competitive intelligence for strategic planning
Data Sources: Amazon, Shopify Walmart, etc
Best for: Amazon and other marketplace sellers who need to understand their market positioning, optimize their listings, and strategically adjust pricing.
Customer Data Analytics Tools
Northbeam
Northbeam provides advanced attribution modeling and analytics tools designed to uncover deep insights into customer data, including their journeys and the effectiveness of marketing channels.
Key Features
Advanced attribution modeling to track marketing effectiveness
Comprehensive customer journey analytics
Lifetime value predictions to forecast long-term profitability
Detailed acquisition channel analysis
Data Sources: Facebook Ads, Google Ads, AvantLink, etc
Best for: Ecommerce businesses looking to enhance their understanding of customer behaviors and optimize marketing spend across multiple channels.
Pricing: Plans start at $1000 per month, tailored for medium to large businesses requiring in-depth analytics and predictive modeling.
Lifetimely
Lifetimely focuses on providing detailed insights into customer lifetime value, helping businesses optimize their marketing strategies and improve customer retention.
Key Features
Detailed lifetime value analytics for precise customer valuation
Cohort analysis to track customer retention over time
Purchase pattern analysis to optimize product and marketing strategies
Data Sources: Shopify, Facebook Ads, TikTok Ads, Snapchat Ads etc
Best for: Small to medium-sized ecommerce businesses seeking to deepen their understanding of customer value and improve ROI through targeted marketing efforts.
Pricing: Starting at $149 per month, with more advanced features and analytics available in higher-priced tiers.
Which Analytics Platform Should You Choose?
Ecommerce analytics solutions vary widely, each tailored to distinct business needs. As sellers scale, selecting the right combination of tools—whether spreadsheet-based for flexibility or dashboard-centric for streamlined insights—can significantly enhance data-driven decision-making.
Some tools are very sophisticated within a specific area—e.g., for profitability, customer analytics, and campaign analytics. Subscribing to a vertical tool that does a great job of a specific area might be very helpful when you want to deep dive into a problem. But buying multiple vertical analytics tools might be overkill. In those cases, you might be forced to download CSV files from different systems to make sense of data. If you aren't a data analyst, you might be hard pressed to work some Excel magic on your data. In those situations, you need a spreadsheet-first analytics tool like Supermetrics or Airboxr.
