Hidden Gems

Welcome

In this module, you will learn how to interpret the data on the Reports Hidden Gems to unveil product opportunities.

After completing this module, you should be able to:

• State the purpose of the Product Opportunities report

• Interact with the various components to view your product data and uncover opportunities

What is it? / Why use it?

This report helps you identify top-performing products by showing the relationship between a product's views and its sales. It focuses on products that have been viewed and sold at least twice in the last 30 days. ODP uses data science to automatically assess insights and observations for an account with the available underlying data such as products, orders, customers and page views.

Understanding the Report's Data

The report uses two key metrics:

• Visibility score: This indicates how often a product's details page is viewed. A score of 100% means it's the most viewed product.
• Sales score: This represents the number of product purchases (in units). A score of 100% means it's the most purchased product.

An efficient product will have similar scores across both metrics. The report helps identify:

• Compelling opportunities: Products with strong sales relative to their visibility, which could benefit from promotions or merchandising.
• Inefficiencies: Products with weak sales compared to their visibility, which may need addressing.

Each product also has a Gem Rank, which is the rank of the product in the full product set when evaluating the difference between the sales score and visibility score. It can be calculated using the following formula:

Gem score = Sales score - Visibility score

The products with a Gem Score closest to 1 are Hidden Gems, which are compelling products that drive sales beyond what their views would suggest.

Get acquainted with the demo below on Hidden Gems: