If there is one thing that puts online marketing and commerce ahead of most things offline its the ability to track to see where business comes from and if there are any problems with the sales process, to put it into context, if you had a shop it would be like understanding how the people found your shop, what they did once through the door, what they looked at and did / did not buy. It would even tell you just how good your sales staff were (these being the pages in your Ecommerce site).
The biggest problem is probably the amount of data that Analytics provides, there are masses of it, which all makes the job of understanding it that much more difficult. At Rouge, we have found the key here is to understand what questions you want answered and then look at the data that will provide the data you need.
Google's analytics is however not as useful at it used to be now that they have 'hidden' the keywords used to find a site via an Organic Search, ie on Google, but the data is still very very useful and we always recommend installing it on any Ecommerce site we create.
Tracking Ecommerce Transactions in Google Analytics
This video is an interesting tutorial on how to install ecommerce tracking with transaction data on your ecommerce website.
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