On today’s episode, Kunle is joined by Michael Vadini, Founder & CEO of Glew.io – an eCommerce Analytics and Business Intelligence platform founded in 2014. Glew makes it easy to analyse key data points and make decisions that positively impact your bottom line.

Almost every interaction of an online business generates a data point. It is also possible to get your hands on all this data. You are looking at data from your products, traffic, ads, social media, cart, blogs and accounting apps to name a few. It is said that the average online business has no fewer than 26 sources of data. Even for a seasoned data analyst, getting actionable insights from such disparate data is no easy task. As a result, (too) many businesses don’t leverage the data they have to make more informed decisions.

Almost every business owner or marketer knows of terms like Average Order Value (AOV), Lifetime Value (LTV) and Cost of Acquisition (CAC). These are the buzzwords that dictate business strategy and ultimately success or failure. Getting accurate reports on these metrics is easier said than done. This is where platforms like Glew come in. With over 95 integrations (and counting), you can harness the power of all your data and boost profitability of your business.

In today’s episode Kunle and Michael discuss the evolution of Glew and how it helps businesses solve the riddle of their data. This is a great episode for businesses of all sizes!

Here is a summary of some of the most important points made,

• • You must be able to trust your data to make key decisions
  • Real-time information helps you be proactive rather than reactive
  • You should consider time frame, customer cohort and product data for arriving at LTV
  • Reliable Cost of Goods Sold (COGS) data is a gamechanger

Covered Topics:

On today’s interview Kunle and Michael discuss,

• Data Goals
• Calculating key metrics
• Integration across all data sources
• How to use Data
• Building attribution models

Timestamp:

• 10:05 – Evolution of Glew
  • Founded in 2014
  • Goal was to be the best eCommerce analytics and BI platform in the world
  • “In every aspect of the platform, there is never-ending development”
  • Adding 4-5 integrations per quarter
• 13:40 – Progression
• 17:00 – Data goals:
  • Getting trust in your data
  • Integrity, Refreshes timely
  • Standard form and easy accessibility for decision makers
• 18:30 – Why eCommerce?
  • Brick-and-mortar has too many exceptions
  • Digital is the future
• 25:40 – Glew Functionality
  • All calculations are created using domain expertise
  • First-order acquisition is a real focus
  • Regular releases account for newly available data points
• 31:25 – Advice for arriving at Customer Lifetime Value (LTV)
  • Very nuanced based on product
  • Time frame
  • Customer base Cohort
  • Products
  • Glew automatically calculates LTV out-of-the-box
• 38:00 – Focusing on data on products
  • Look at metrics like Net profit by channel / orders
  • Reliable COGs data is a gamechanger
• 42:20 – How can BI help optimise Cost of Shipping
  • Segment data by order / discount / country
  • Real-time information helps you be proactive rather than reactive
• 46:50 – Handling attributions
  • Leverage multiple data sources
• 49:15 – BI Tunnel
  • Integrates custom reports from other platforms
  • Refreshes data hourly
• 55:45 – Which traffic data source to trust?
  • Data from Shopify and Google Analytics are both crucial

Takeaways:

• Real-time information helps you be proactive rather than reactive
• Getting your key metrics right is critical for success in a data driven world

Links & Resources

• Glew website

Tweetable Quotes:

“The Average online seller has 26 external data sources.”

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