Magento 2 Latency Matrix Report
Store Manager offers you to generate Magento 2 Latency Matrix report and determine Magento order statistics and the period of time that took those customers between making a specific number of purchases. Such information can help you figure out the factors affecting your customers behavior and in some way forecast their activities.
Let's try to create Magento 2 Latency Matrix report and study its content:
Start Store Manager and enter 'General reports' section on the main toolbar. On the right select the storeview you would like to make the report for and double-click on Latency Matrix report type.
Magento 2 Latency Matrix Report Components
So, what have we got here:
Order Count row values stand for the total number of orders made by specific customers group: 1 means 1 order, 2 means 2 orders and so on.
Order Count column values designate the order of purchases sorted by date.
The 1(column)x1(row) value shows the number of days between customer’s registration and the first order he/she made.
The 2x1 value shows the number of days that took a customer to make his/her first purchase after the registration. The 2x2 value is the number of days between the first and the second purchase.
The last value of each column can be used as a forecast for the previous customer group column. Consequently, 2x2 value is the forecasted number of days that will take customers who made only one order to make next purchase, when 3x3 value is forecasted period before making the next purchase for those “2-orders-customers” and so on.
Such is the count system of Latency Matrix report. As you could notice, the number of values in every column corresponds to the number of orders. Thus, column 3 displays the periods of time between the registration and first purchase, between first and second purchase and between the second and the third purchase.
Underneath we have a table containing the number of customers analyzed (Customers Count), expected orders within an undetermined period of days (Expected Orders), number of clients requiring attention (Requires Attention) and the number of customers who haven’t made any orders within at least 12 months (Potentially Lost).
It would be a good idea to make some offers for customers belonging to last two groups, especially those requiring attention. Though, potentially lost customers are very likely to be one-time buyers, so you shouldn’t spend much efforts and money to make them buy something more from your store. It would be enough to offer them buy a related or cross-sale product.
Magento 2 Latency Matrix report displays the average customer behavior and is a perfect assistant in determining the best approaches to your customers. It is recommended to make such reports every half a year to get the most truthful numbers.