Market analysis and competitor monitoring reporting provide useful insights for pricing decisions, such as cost, profit and growth information. Reports provide important details that can be used to develop future forecasts and marketing plans, guide budget planning and improve future decision making.
Reports are a tool commonly used by eCommerce business owners to monitor development, spot trends, and point out any anomalies that may require further investigation. Furthermore, see if your competitors are raising prices or selling out and take action on these important indicators. Prisync’s automation is designed for e-commerce merchants of all sizes to be able to track this insight without the extra time and effort.
You can use several reporting methods, such as using our dashboard to check your overall price performance, or drill down with specific brand and category data. Receive email notifications and use our API to do much more.
It’s very easy to complete all these tracking steps using Prisync. You don’t need any complicated technical setup or integration. To solve your digital struggles, simply follow all the information in one dashboard to track, measure and analyze your data.
Benefits of having reporting automation
1. Reduce manual tasks and save time
No matter how skilled your team is, extracting, processing and analyzing report data takes a lot of effort. Use a dashboard that can automate your reporting to combine these time leaks; you decide what to do with all your new free time.
On top of all that, you can export your data to an Excel file at any time with the Prisync panel.
2. Improve accuracy
Errors may occur when tracking manually. With automated reporting, the possibility of inaccuracy is eliminated. Prisync users can modify their reporting data as they wish. This saves a ton of work, money and time. Daily automated reports will keep you informed of the latest changes in your market and your closest competitors.
3. Manage ever-changing workloads and focus your pricing efforts
We can answer questions about the future, even if we can only partially eliminate the burdensome and unpredictable nature of e-commerce. With Prisync’s detailed reporting features, you can now slice and dice existing data to answer all those tough questions about your pricing plans, competitor and product analysis, and more.
4. Increase productivity and reduce costs
Let’s be realistic for a moment. Time is cash. When it comes to reporting, time can be saved by consolidating all your reports (competitor analysis, price changes, etc.) into one dashboard. Consider being able to scale your reporting and analytics structure into a single dashboard. You can receive daily emails for your Excel reports and regularly see updated changes every day.
Excel report of Prisync
Prisync’s service allows you to have all reports as an Excel document. You can export all your reports through your dashboard. Your reports will include your general brand, category and product information. This way you can monitor your competitors’ stock availability, price changes, your brand’s performance and market position, all the sites you follow and your index value.
You can export all your data to an Excel report by clicking the export button on your dashboard/product page. Next, you will see a green export button at the top of the product page. Just click a button and get your comprehensive report on your Prisync account. For businesses, formal notices are very popular. For this reason, Prisync has the option to prepare your analysis as an Excel file. Your Excel report will be generated in seconds. You can download your file from the ‘reports’ section of your dashboard.
Your Excel report will also show the product name, category, brand, lowest price, highest price, average price, and the prices of all competitors in the market.
Our daily email notification feature allows you to have your Excel report automatically every day. So now it’s easier to track all the changes in your market and determine your profitable pricing strategy.
Price Change and Map Report Emails
Once you’ve synced your products and competitors to your Prisync dashboard, you can receive daily price change emails. These emails will include competing companies, their old and current prices, the status of price changes, and stock information.
Additionally, if you specify your SmartPrice rules, you may receive SmartPrice offers with calculated updates.
Prisync has two types of price change emails: The first is that Daily price change email. This is an email that will be sent to you every morning, every day. The second one Instant price change email. Because Prisync has three different loops to update competitors’ price changes, instant price change emails are repeated three times a day. Each is sent after three different daily price tracking updates by our engine.
If you apply MAP policies to your vendor and want to track them, you can get a daily newsletter MAP monitoring report email to check the sellers of all your products. In the mail, you may see red sellers who have different pricing policies than you expected. This way you can easily monitor and control your vendors.
Prisync Brand and Category Report
Prisync can provide you with a detailed report on your company’s brand and category analysis to see if your product is performing well.
The index information on your dashboard gives you a quick estimate to compare your pricing to that of your competitors. Furthermore, consider this. the average price index value is 100. The product index value is determined by the Prisync engine by multiplying the price of the product by 100 and dividing it by the average market price of that product.
Let’s say your index score is 90. This indicates that your product prices are 10% lower than the average panel prices charged by your competitors. You can check your index numbers via the overall dashboard, brand/category reports and Excel exports.
Finally, you can look at data like your closest competitors and which sellers are losing sales compared to other sellers with category/brand performance data.
At this stage, brand reports have a good added value. This way, it’s easier to keep control of your price. Additionally, you can explore the analytics on your dashboard provided by Prisync software if you want to align your pricing with competitors or set dynamic pricing.
Monitoring and reporting over time can not only identify problems, but also provide opportunities for improvement or progress. Automated reporting can also be a good tool for tracking past performance and establishing prospects for future growth by pointing to past performance or potential future actions. You will have a distinct advantage in determining your strategy if you keep track of changes in the market and competing products, including prices, stock information and market positioning.
e-commerce strategy reporting automation