Abandoned cart: How to track abandoned cart

Hi team,

As per our analysis we are seeing conversion rate is less, so we are thinking of why this happening. I am a technical guy, so thinking of write a code to track the abandoned cart.  So can you please help me here how we can track it?   I am thinking of capturing  ID of cart when it is created for first time, then capture other respective events like cart addition, checkout, purchase...etc..  will this work ?