Merchant Innovation

Magento Merchants Gain Access To Real-Time Analytics

eBay Enterprise’s Magento platform has expanded a partnership with New Relic that will provide its merchant customers an in-depth look at the key metrics they may need for savvier business decisions.

Magento announced yesterday (Aug. 19) that it has extended that relationship to include the New Relic Software Analytics Cloud. That specific software is designed to help merchant customers gain a better sense of their customer engagement level. Through the terms of this new deal, Magento merchants now can tap into the software and business analytics that are provided via custom, real-time dashboards from New Relic Insights.

This technology also enhances site speed and stability using the New Relic APM (Application Performance Monitoring). Magento merchants can simply add an extension that’s available on the Magento Connect marketplace.

“There is no question that website performance is a key factor in driving transactions and inspiring customer loyalty. By reducing website page response times by one second alone, a site’s conversion rate can increase by 7 percent, according to The Aberdeen Group,” said Steve Yankovich, Chief Product Officer for eBay Enterprise. “Our partnership with New Relic gives retailers using the extension a crucial line of sight into their business, performance and environmental data, which allows for better informed decisions to drive higher conversion rates, and ultimately generate more revenue.”

By using the New Relic APM and New Relic Insights to monitor their business analytics in real time, Magento merchants can now gain a better understanding of how daily performance is impacting their overall business performance.

“Real-time performance is a critical consideration for online retailers,” said John Gray, New Relic’s SVP of Business Development. “Our partnership with Magento brings the power of software analytics to Magento users, including real-time, customized dashboards that show customer engagement data and other elements impacting their business. With New Relic, Magento customers can make data-driven decisions to improve performance and business results.”

As for the future of eBay Enterprise, eBay announced in July that it has officially found a buyer for the struggling unit. According to reports, a consortium of buyers including Sterling Partners and Permira Funds will pick up the business for $925 million.

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