Today's world of retail and shopping has shifted from physical stores to the virtual world. Being a successful seller is simply an outcome of 'smart work' rather than 'hard work.' Using the appropriate tools and software services might mean the difference between becoming a high-flyer or remaining an average individual.
But, just randomly using any and every tool available is not the way to go. This is an information-powered age. The seller who understands his requirements shall be able to filter out the best tools to use for their business. He can leverage the available information to give the best possible results. The better your information output, the more effectively you can operate your business.
The more closely the coordination between data and your business, the better and more effective the business' decision-making capability becomes. Data can become the most powerful ally for any company who grasps the importance of it. There was a time when the data was in abundance, but none knew how to harness its true potential.
Understanding this stalemate which humans have with data, various data analytical tools have come to develop. These tools have served efficiently in bridging the gap between raw data and actionable insights based on that data.
Amazon Brand Analytics
Amazon is the largest eCommerce marketplace trying to help its partners through various tools. Sellers Central is one such tool that has many efficiencies and can resolve many requirements. Analytics is one such feature that Amazon Sellers Central offers to its registered partners.
Amazon has inbuilt analytics tools for 3rd party sellers on the site. But it is only available to sellers listed on the Amazon Brand Registry. Sellers matching all the criteria get to enter the list. Entering the list gives them access to data reports on their listed products. These reports are available to them within three days.
Amazon Brand analytics generates reports on
- Alternate Purchase
- Demographics
- Market Basket
- Item Comparison
- Amazon Search Terms
But this generic flat reporting is not adequate to help sellers get the most out of the website and improve their business.
List of 9 Best Amazon Analytics Tools For Amazon FBA Sellers 2020 (Updated)
Accelerlist is one of the best intuitive listing software available today. With the help of most advanced technological tools, Accelerlist allows you to separate Live Listing, Bulk, and Private workflows. It helps you to define your product pricing strategies. Accelerlist enables you to understand what your product prices should be. It does so by presenting a correlative report mapping FBA prices and merchant prices along with the Keepa charts.
The software also allows real-time access to inventory health analytics and Marketplace data. Accelerlist is highly popular among sellers who want to increase their business scale and are looking for rapid inventory turnover. This efficiency provided by Accelerlist makes it one of the most preferred analytical solutions available, and its popularity is not unfounded.
Key benefits and features of using Accelerlist
- Helps you get the latest data
Accelerlist enables you to acquire the latest Amazon pricing data. This tool automatically fetches this data from Amazon's API and other data points, which are vital for your growth.
Not only this, but Accelerlist also helps you acquire other essential data like sales figures, inventory cost, etc. which is crucial for your business' functionality.
- Customizability
This Analytical tool allows you scope for customization. One of the key features that it supports is minimum ROI pricing. You can set your minimum ROI ratio, which will help you achieve the desired profits without any trouble.
- Easy to understand financial statements
Accelerlist helps you by providing you with efficient financial statements and reports. These reports help you analyze your business transaction and gives you a clear picture of your profits.
Additionally, this tool also allows you to upload your complex Amazon sales report and give you easy to understand reports instead. This tool takes care of half the job that your CPA does by providing you with profit and loss statements and income statements.
This multipurpose tracker helps sellers improve their business by having an Offense and Defence software. It produces reports on product rankings and searches word tracking. By performing the same analysis for your competitors, they allow you to keep track of your competition. AMZ does the same analysis for your competitors, enabling you to be aware of any changes. This new-found knowledge helps you develop your strategies to tackle competition. You can check our detailed AMZ Tracker review here.
AMZ Tracker has a Super URL feature, which is very useful in marketing your product to social media users. The software provides alerts for negative reviews and informs you about hacking attempts. This tool also helps your Amazon FBA products obtain high rankings, which make them feature on the first page.
When you are ranked at the top and fulfill certain conditions, you can get the Amazon buy box for your product. Amazon buy box drives sales. If you are still wondering whether you should avail the services of AMZ or not, look at these key features and benefits of AMZ.
Key features and benefits of using AMZ Tracker.
- Keyword tracking Software
Its inbuilt keyword tracking software helps you understand the search pattern of your consumers. Based on this knowledge of search patterns, you can define your marketing strategy to come over the top of your competition.
- Competition tracking
AMZ helps you track your competition and their market strategies. Based on this knowledge, you can understand what works and what doesn't work.
- Increase your conversion rate
By helping you understand the factors impacting your conversion rate, the AMZ tracker enables you to drive more sales.
- Prevents hijackers
AMZ trackers keep track of your security. There are regular attempts of hackers on Amazon. AMZ tracker notifies you immediately when it senses something allowing you sufficient time to take preventive measures.
- Unicorn Smasher Chrome extension
This extension helps you identify a product's performance in terms of revenue, reviews, quality of the listing, and competitors' number. You can use this tool on any amazon page, which makes it very convenient and efficient.
Sellics is an Amazon FBA specific tool that aids in comprehensive management. Due to this, it is an ideal investment for growing businesses. Sellics can assist you in managing all the major business processes. It is an integrated platform that can help deal with SEO, research, PPC (pay per click), product reviews, inventory management, and monitoring your competitors. Due to the many features that Sellics provide, it is one of the most preferred Amazon analytical tools.
Key features and benefits of using Sellics
- Manage your entire business
Sellics helps you manage your whole business through one tool. You can keep track of your inventory, manage sales, and whatnot.
- Monitor competition
Sellics through various algorithms help you keep a close eye on your competition. Knowing your competition is very important if you aim towards growing.
- Marketing solutions
With the help of SEO optimization, keywords tracking, PPC costing, product reviews, etc., Sellics take care of all your marketing needs.
As the name suggests, Forecast is a predictive analysis tool to help forecast the future market scenario for Amazon FBA sellers. This tool assists in solving reorder issues and inventory decisions for large-scale wholesalers and small-scale independent operators.
The software's Advanced Replenishment Stats can give you exact reorder numbers, as it can be incorporated to use not only Amazon data but also shipment data from non-Amazon sites. Because of this report, and the Inbound Shipment Tool, you are neither overstocked nor fall short of the requirement. Forecastly helps you maximize your cash-flow and obtain the optimum sales velocity.
Key features and benefits of using Forecastly
- Demand forecast
Forcastly, as the name suggests, makes efficient forecasts of future demands with its advanced algorithm. These accurate forecasts help you maintain an optimum inventory and prepare you for future scenarios.
- Alerts and notifications
Forecastly alerts you when you are running out of inventory to stock up in due time. The icon of out of stock on your product profile can mean a loss for the business.
- Efficient dashboard
Forecastly's dashboard keeps you informed about your business' health. It does real-time analysis and comparisons to determine what went wrong and what can be improved.
- Supports customization
Forecastly supports customization in the report settings, allowing you to generate reports suitable for your business needs.
HelloProfit is a CRM based intelligence software that comprises six tools that can assist you with your business operations. The software's Merchant Dashboard can incorporate sales data from different seller accounts and integrate data from multiple countries.
The Customer and Orders CRM available on the software combined with the Payout Reporting system helps you understand your customers' spending patterns. ASIN and SKU help you track your revenue and profit generation. The Product Dashboard tool enables you to analyze your product's performance while using the PPC manager to help identify new opportunities. HelloProfit's complete analytics helps any Amazon Seller gain total control over their FBA business.
Key features and benefits of using Helloprofit
- Real-time updates
HelloProfit provides you real-time data about your sales, profits, and product rankings.
- Financial analysis
HelloProfit provides you with simplified financial analysis providing you a clear image of your business.
- Customization
HelloProfit allows you to customize the reports. You can select to choose a review for a single product or a combined analysis for all your products.
This tool is relatively straightforward in what it aims to do. Keyworx is tailor-made to specifically assist Amazon FBA sellers to track keywords and use this information to help improve their products' SEO ranking on Amazon. The right keywords may mean the difference between having a highly popular product or one languishing in the dark recesses of the big, labyrinth that is now Amazon.
You need to follow the changes in keywords or search trends. This knowledge of changing market trends, in turn, helps you adjust immediately to the changing environment as this affects sales and revenue. Though the monthly subscription includes a fee, the additional support, tutorials, and training make it worthwhile. These features help you get the best value for money.
Key features and benefits of using Keyworx
- Rank top on searches
Keyworx enables you to rank high on the Amazon search. It is important to note that the top search result gets around 30% of the total sales, while the second search result gets about 10% of the total sales.
- Round the clock customer support
Keowrx provides round the clock customer support for any problems which might arise.
- Training and tutorials
Keyworx enables you to take training and attain tutorials to manage your Keyworx account and keywords more efficiently.
Profit Bandit is an easy to use, low cost paid tool that is slightly more advanced than the Amazon Seller App. The pre-set filters help you to start calculating your profit and loss quickly and easily.
It helps by flagging "collectible" items for you, and the competitor analysis from other sites available in-app makes it very handy indeed.
Key features and benefits of using Profit Bandit
- User-friendly user interface
Profit Bandit has a very user-friendly interface that saves you a lot of time and helps you get your work done effortlessly.
- Cost-efficient
Profit Bandit is very cost-efficient. It provides its services at comparatively low prices, which makes it very appropriate for small scale businesses.
- Financial statement analysis
With the help of standard configurations, Profit Bandit helps you calculate your Amazon business's profit and loss.
- Competition analysis
Profit Bandits has various components attached to it, which enables you to conduct competitive analysis.
Sellerboard provides access to multiple useful tools to aid in the pursuit of improved selling potential and higher profits.
The PPC Dashboard helps you analyze the results of your PPC campaigns. It also gets the results of ad groups and keywords on the same dashboard. The Profit and Loss View feature helps calculate your data, including the parameters for sales, shipping, and refunds. The Cash Flow tool is excellent at assisting manage expenses and income forecasts.
In-depth information about Amazon fees, return costs, PPC expenses, and more are available on the Live Dashboard.
Customizable charts and reports help in easy usage and increase in profits. Unique marketplace and product filters help show results quickly.
You can customize all their charts and filter the reports by marketplace or product. Sellerboard provides you the exact important analytics you need to save time and increase your Amazon profits.
Key features and benefits of using ForeCastly
- Detailed analysis
The product breakdown feature allows you to get detailed analytics on all your products for any time duration. It enables you to see sales, determine profit and expenses incurred for a product listed on Amazon.
- Expenditure tracker
SellerBoard helps you track your fixed and variable costs identifying areas where you can save. It also enables you to gain detailed information on the fees that you pay to Amazon, your PPC expenditure, and other variable costs.
- Inventory tracker
SellerBoard sends out notifications whenever you are about to run out of inventory, keeping you prepared for sales.
Price Blink works like a simple browser add-on. It helps by obtaining the lowest price available for any product by searching for multiple websites. As an Amazon FBA seller, you can use this facility to your advantage.
First, you can analyze the different listing prices for your product. Second, if you require raw materials, it can help you obtain the most competitive rates for it.
Key features and benefits of using Price Blink
- Facilitates pricing strategies
Price Blink analyses all the brands available for your products and gets you their prices. Based on this information about your competitors' prices, you can develop your pricing strategy to gain the maximum from the market.
- Competitively priced raw material
With the help of the price generation feature, you can search for the raw material that you need for your products. You can determine the supplier who supplies the raw material at the lowest price and reduce your manufacturing price.
- Easy to usePrice Blink is easy to use. The user interface is fairly simple and helps save a lot of time.
- Price-efficientPrice Blink is very economical. There is a chance that one of these tools might burn a big hole in your pocket. Price Blink helps you avoid this by providing efficient solutions in economical prices.
Why do you need an Amazon Analytical Tool?
An Amazon seller with a nice portfolio of more than two or three products, it is essential that you invest in one of these analytical tools. Doing a manual analysis of a couple of products is still feasible. It doesn't take much time and effort on your part. But, if the number of products that you sell on Amazon is more than two or three, it becomes painstaking to handle the analytics yourself.
If you are a seller partnering with Amazon, it is even more crucial to invest in these various analytical tools. It is essential to keep track of how your products are faring on this digital market platform. These tools help you understand which strategies are working and which are not. These insights enable you to improve upon the various policies and help grow your business.
Data analytical tools have made life simpler. Here are some of the reasons you should consider one of these analytical tools to be an essential part of your brand strategy.
Benefits and feature of an Amazon analytical tool
- Manage complete portfolio
Amazon's analytical tools help you manage your entire collection. It doesn't matter if you have one product or a thousand.
- Comprehensive analytical reports
These Amazon analytical tools provide you with detailed, easy to understand, and actionable reports. These reports help you monitor your product's performance. Based on these reports, sellers can understand which strategies are working and which strategies are not.
- Keep track of your business transactions
Keeping track of your business transactions when you have an extensive portfolio can be a troublesome task. These analytical tasks help you keep track of your purchases, like sales, cash inflow, inventory, etc. These tools take care of many vital business functions allowing you to make better use of your time.
- Business strategies and plans
Amazon analytical tools help you determine the current status of your business goals and objectives and help you develop them. These tools help businesses drive business objectives, as well.
- Real-time status
Some of these tools help you monitor the real-time status of your business listings. They update the reports on an hourly or daily basis, helping you in book-keeping.
- Ease of access
You can access these analytical tools on the go. Most of these tools support smartphones, which make them accessible without having a computer system nearby. This accessibility helps keep up to date about any changes that might happen when you are away from your office.
- Interactive and smart user interfaces
These analytical tools are designed, keeping in mind the convenience of the sellers. The user interface defined in these tools is user friendly and interactive. These AI-based tools help you find the desired solutions in the quickest of manners.
After one understands the benefits these Amazon analytical tools bring, the next question to come to mind is which tool to choose. There is no shortage of business analytical tools in the market. This list of options makes it challenging to choose one. Well, you don't have any more reasons to worry. Here is a list of top Amazon analytical tools available in the market with their key benefits and features.
Quick Links:Conclusion: Best Amazon Analytics Tools For Amazon FBA Sellers 2020
No matter the scale of the business that you operate, you cannot ignore the economies that these tools bring to the company. The features that these tools provide are undoubtedly useful. But more importantly, these tools are the means to survive on Amazon, where the competition is cut-throat. All the sellers are coming out with different and unique strategies. You must keep up to date with those strategies. The Amazon analytical tools help you in doing precisely that.
Optimum use of available data has always been a concern for the Amazon sellers. While Amazon is trying to solve these concerns through its inbuilt tools, it has its limits. If you are looking for limitless solutions to your business needs, we advise you to select one of these tools.
