California-based cloud digital commerce platform
Magento Commerce has announced that it has acquired RJMetrics, a cloud based data infrastructure and analytics software company. With this acquisition, Magento’s suite will have the inclusion of an in-built solution that will enable the merchants to gather knowledge of their business based on actionable data and insights into customers, merchandising and channels.
RJMetrics has also announced that its Pipeline business has been rolled out into a separate company called Stitch
, a fully managed ETL (Extract, Transform, Load) service built for developers which was under beta for the past nine months. CEO Robert Moore will join the Magento board as Head of Magento Analytics while Co-Founder Jake Stein will lead Stitch as CEO.
Magento states that it is planning to market the new solution as ‘Magento Analytics
‘ that will allow the non-technical users to easily connect with enterprise-grade data sets across a broad range of applications to merge and scrutinize data for effective multi-brand, cross-channel reporting. The company claims that its deep analytics will help the user to fine-tune marketing campaigns, increase customer lifetime value, and sell more.
Mark Lavelle, CEO of Magento Commerce said:
Big data and analytics are now table stakes for merchants who want to find new customers, increase order value, and enhance loyalty. The combination of RJMetrics and our global ecosystem of Solution Partners will provide our joint customers, such as Signature Hardware, Draper James and Bucketfeet, and the diverse portfolio of Magento merchants with cutting-edge analytics that keep them ahead of the competition.
Capabilities of Magento Analytics:
- Cohort Analysis: which enables businesses to keep track of the growth efforts based on customer behavior, from conversion rate optimization to customer loyalty programs.
- Marketing ROI: which gives insights into campaign performance to continuously tune and optimize campaigns and allocate marketing spend. It identifies the channels and campaigns that create valuable, repeat customers.
- Improved Segmentation and Personalization: Customer insights allow for more targeted promotions and merchandising, allowing Magento merchants to sell more.
- Better Merchandising and Shopping Experience: which gives insights into item, page, placement, promotion, and channel performance will enable merchants to continuously optimize digital shopping experience and performance to increase sales and gross margin.
- Multi-Brand, Cross-Border Analytics: Insights that aim to enable smaller merchants to compete against bigger competitors.
- Intelligent Sourcing and Inventory Optimization: Integration to the Magento Commerce Order Management solution to improve sales and margins due to improved cross-channel fulfillment and inventory balancing resulting in fewer in-store stockouts & costly markdowns.
Robert Moore, CEO, RJMetrics said, “We’re on a mission to help commerce businesses make smarter decisions using their data. When combined with Magento’s commitment to facilitating commerce innovation through flexibility and openness, the opportunity to fulfill that mission is larger than ever. The blending of our platforms will open up a world of possibilities for our customers to define the future of commerce analytics, and I’m proud to be combining forces to usher in the new era.”
The acquisition is considered as the very first move for Magento after it launched as an independent company, backed by the Permira funds from eBay in November 2015.