Why You Must Leverage Big Data to Boost the Success of Your E-commerce Business


Student Name: Praewwanit Tiwasing (倪婉欣)
Student ID: M0798633

 Blog#3: Why You Must Leverage Big Data to Boost the Success of Your E-commerce Business 
Website: https://datafloq.com/read/leverage-big-data-boost-ecommerce-business/6454

 This blog provides information about how to leverage big data for the success of your businesses. It is crucial to know how to use big data analytics. It is divided into 4 main parts as followings;

 (1) Provision of a personalized user experience
Big data tracks visitors' behaviors on the website. It tracks products which visitors have searched or bought in the past. Then, it personalizes recommended products to satisfy customers' experiences. 

 (2) Trends prediction
Big data analytics includes the use of trend forecasting algorithms. The algorithms tracks browsing behaviors and social media posts of audiences. Then, it predicts the next trends. It is very important for entrepreneurs to know about new trends as the businesses can utilize the information to compete with their competitors.

 (3) Price optimization
Big data helps businesses to identify the appropriate price for the products. The data depends on products costs, competitors product price, transaction cost, and so on.

 (4) Demand forecasting
The businesses utilize historical data to forecast customers' demands.


 (5) Optimization of customer services
The businesses collect data from social media platforms with full information about customers' reviews, needs, and preferences to enhance their customer services.

 (6) Increase sales
Big data can enhance customers' experiences when you use it properly. It is a game changer in e-commerce industry. For example, big data helps you to understand more about your customers. The businesses can offer more personalized shopping experiences and offer suitable products or services which fit customers' needs.

 The blog is suitable for businesses which operate in e-commerce field. The businesses should consider to utilize big data in order to maximize their business capabilities. Eventually, big data can lead businesses to be successful in the future.

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