Coremetrics, one of the major providers of web analytics technology to online retailers, released today Coremetrics 2009, the annual fall upgrade to its software suite. The new release contains more standard reports and more ways for retailers to compare their performance against that of competitors.
“As we’re facing the harsh realities of the economy today, companies are coming to Coremetrics looking for the ability to be much more intelligent and accurate about how they target their customers,” says Mike Hulme, senior director of product marketing at Coremetrics. “Our customers have a lot of data, sometimes too much data. They want data in context so they can see how they’re performing versus competitors and the market, and they want to get that information more quickly.”
Among the new features in Coremetrics 2009, which builds on the spring update of the company’s analytics tools, are the following:
Benchmark is the new name for a service called LiveMark that allows marketers to compare their performance to that of other companies that Coremetrics serves. The number of metrics tracked has roughly doubled to about 30, including such new metrics as percentage of sessions by new vs. returning customers, page views per session, and comparison of page views per session of new vs. returning consumers. Coremetrics publishes some of this data on its web site and provides a richer set to companies that contribute their data for analysis.
The Explore reporting tool, introduced this spring, now has standard reports designed to get marketers going more quickly. Among them is a report that breaks down mobile users by such factors as pages viewed, products purchased, geography and carrier. With the new version of Explore, a marketer can run a query against a set of data, and then easily repeat it across other data sets. In addition, a custom report can be dragged and dropped into a marketer’s dashboard.
The Analytics module includes new annotation functions so users can flag important data points and trends.
The Search tool enables marketers to take into account data such as inventory levels and cost of goods sold when bidding on keywords for search ads. That would allow a marketer, for instance, to bid more aggressively on keywords that help sell items that are heavily stocked, while pulling back on items that are running low.
The Intelligent Offer tool has been enhanced to allow more granular up-sell and cross-sell offers. For instance, instead of just being able to offer items in a particular category, the marketer can specify which specific product to offer a customer based on purchase history, potentially boosting sales of higher-margin or overstocked items.
Coremetrics typically releases two major upgrades to its technology each year.