The Commerce Reporting Standard

The project website at commerce-reporting.com is still under construction.

We are working on building a platform with full project information, a commerce reporting glossary, an area for publishing the project results and – first of all – a blog that will host the articles and discussions about single project topics around commerce reporting.

Until the website is ready, you’ll find some key information about the project here.

Why are we Doing This?

About The Commerce Reporting Standard

The Problem

Today, very few commerce companies work in a data – driven way. Actually, 9 out of 10 organizations don‘t even have a clearly de ned system of metrics and attributes to use for reporting and analytics purposes – and there is no public standard that they could adopt. This not only prevents companies from maximizing e ciency and performance by making better, data-driven decisions, but also, it turns industry benchmarking into a huge challenge.

The Solution

We want to ll this gap and, together with experienced partners, develop a Commerce Reporting Standard that covers eCommerce, brick-and-mortar and, above all, omni-channel business models. Every commerce company will be able to access this standard and bene t from the shared best practices – independent of which technology is used for the implementation of a speci c reporting and analytics solution.

The Project

To work out the Commerce Reporting Standard, we are searching for quali ed industry partners who will be actively involved in the discussion and regularly meet in workshops to drive the project forward. Also, we are in search of project supporters who help with promoting the initiative and we call on everyone who is interested in taking part in the online discussions!

To host the discussion and publish the results, a web platform will be established at commerce-reporting.com.

The Background

Dealing with commerce companies that strive to become data-driven every day, minubo and Project A both recognized the urgent need to establish a standard for commerce reporting and joined forces to launch this initiative.

minubo is the Commerce Intelligence Company for omni-channel brands and retailers. // minubo.com

 

 

Project A is the Operational VC for early-stage companies from the digital technology space. // project-a.com

Build the Standard With us: Become a Partner or Supporter!

Just enter your information, if you want to stay up to date with the latest project news.

Also, we’re searching for all kinds of partners – just indicate in the form, which kind of partner you’d like to become (or if any at all):

Partner: Be actively involved in discussions and workshops to drive the project forward with your expert knowledge.
Supporter: Support the project by sharing discussion topics and results on your platforms.
Community Member: Take part in the online discussions whenever you want to – without any obligations.

Also, don’t hesitate to contact us directly! Please reach out to Lennard Stoever, minubo CEO:

  +49 (0)40 – 398 06 75-101
  lennard@commerce-reporting.com

The Commerce Reporting Standard

Project Outline

Project Scope

The Commerce Reporting Standard will be the standard metrics system for commerce organization to monitor and increase business performance in a data-driven way. Its scope is defined by the following aspects:

  • Tailored to commerce businesses – brands and retailers
  • Focused on B2C commerce
  • Applicable to all sales channel models – online, brick and mortar, multi-/omni-channel…
  • Limited to transaction-related processes – i.e. distinguished from corporate (financial) reporting

The motto: Included is what helps to improve business performance – monitor processes, measure success, discover potential!

Project Phases

The project will go through several phases until we have the nal Commerce Reporting Standard as a result. Nevertheless, all partial results will be published during the course of the project, so organizations will be able to work with what has been achieved from day 1 on.

  • Phase 1: Develop a comprehensive, consistent system of commerce metrics and attributes
  • Phase 2: Define a basic set of key performance indicators (KPIs) from the full metrics portfolio – tailored to company type and stage
  • Phase 3: Define role-specific report templates for strategic and operational purposes

Scope Overview: Metrics

The Commerce Reporting Standard will cover the metrics clusters that are shown in the figure. The definition and systematization of the associated metrics will take place cluster by cluster – starting with the core of all commerce reporting: transaction metrics.

Transaction Metrics
All metrics that model and measure transactional performance: revenues, margins, discounts, fees, cancellations, returns etc.

Journey & Acquisition Metrics
All metrics that are related to customer journeys and/or acquisition: click-throughs, costs per click/t impressions, number of touchpoints etc.

Customer Metrics
All metrics that are directly related to the customer(s): lifetime values, interpurchase times, distribution of new/existing customers etc.

On-Site & Funnel Metrics (mainly online)
All metrics that model the buying funnel between acquisition and conversion: time on site, product views, conversions at various stages, bounces etc.

Product Metrics
All metrics that are directly related to the product(s): sell-through, predicted sales, days since last purchase, deviations from competitor prices etc.

Operations Metrics
All metrics that are related to purchasing, inventory and ful llment: inventory turnover, purchase order quantities, open shipments etc.

Scope Overview: Entities & Attributes

Besides the needed metrics, the Commerce Reporting Standard will also de ne the entities and attributes that should be available for reporting and analytics purposes. Only by drilling down or aggregating metrics to those entities and attributes can companies gain full business insight.