The ecommerce tech startup Tradeswell recently made its one-stop data tracking tool for online marketplace transactions available to the public on the Shopify app store.
This product launch is the culmination of Tradewsell’s $ 15.5 million Series A, funds from which supported the development of artificial intelligence, quantitative trading and ecommerce integrations for the platform. The application helps direct-to-consumer brands and sellers by aggregating data from ecommerce channels like Amazon, Target, Walmart and Shopify. It then maintains all that sales data at a stock-keeping unit (SKU) level and uses AI to combine marketing platforms with logistics and sales data. The subsequent analyzes help businesses steer growth and react to increasingly algorithm-dictated marketplace activity. Overall, the platform ultimately offers any small business the data analytics capacity of a large company, which helps it pinpoint which online marketplace is most worth its time.
“By servicing these actionable insights, [ecommerce businesses] do not have to spend hours or days putting together spreadsheets to come to the same conclusion, ” Kathleen BoothTradeswell’s senior vice president of marketing, told Technical.ly.
Moreover, by building what Booth called an “operating system for real-time commerce,” Tradeswell’s platform aims for perfect data unification, alignment across disparate platforms and market adjustment speed. National stats on ecommerce suggest that such an intervention can help a lot of sellers.
“What shows up at the top of an Amazon search result is 100% driven by the Amazon algorithm, and you have to be constantly optimizing for that,” Booth explained. “To be able to really compete and win in an algorithmic space, you have to move quickly.”
Donte Kirby is a 2020-2022 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Robert W. Deutsch Foundation. -30-