Cloud-based digital commerce provider Magento Commerce announced that it has acquired analytics software company RJMetrics. The combined company aims to give retailers more tools to target promotions, improve their merchandising and boost their inventory management. Terms of the deal were not disclosed.
The new solution will be marketed as Magento Analytics and will allow non-technical business users to integrate with enterprise-grade data sets across a broad array of applications, in order to consolidate and analyze data for multi-brand, cross-channel reporting.
According to a recent Forrester Research report, most firms only use one-third of the data that they collect. Worse, only 29% say they are good at translating the result of data and analytics into measurable business outcomes.
“Big data and analytics are now table stakes for merchants who want to find new customers, increase order value, and enhance loyalty,” said Mark Lavelle, CEO of Magento Commerce.
RJMetrics’ second product, an ETL service, is spinning off into its own company and brand, Stitch.