7 Ways Big Data is Changing E-commerce


Title: 7 Ways Big Data Is Changing E-commerce
Blog #9
Name: Devina
Student ID: D0731576
Written by: Stacey McDaniel 

As we all know and aware, E-commerce is the leader in digital universe, accumulating the customer’s social media activity, geolocation services, web browser histories, and abandoned online shopping carts. Analyzing the data giving the companies such as Amazon, Alibaba, and eBay a distinct benefit. It gives them an understanding of customer's behavior of the current market trends.

Here are the seven ways big data can foster positive change in any e-commerce business”
1. Elevated shopping experience
Every customer that signed up, the companies can gain their information to analyze the demographic, age, style, size, and socioeconomic information.
The eCommerce companies use predictive analytics that anticipates how customers will behave in the future. They also tract the number of clicks per page in the websites, an average number of products added to the shopping carts, and the average length of time spend. Predictive analytics help companies to develop new strategies and predict inventory needs.
2. More secure online payments
big data can recognize atypical spending behavior and notify customers as it happens. Companies can set up alerts to customers for various fraudulent activities.
3. Increased personalization
360-degree-view of customers allows e-commerce companies to segment customers based on their needs while giving them customized emails and discounts.
4. Optimize pricing and increased sales
big data can help businesses to pinpoint the fairest price for specific customers.
5. Dynamic customer service
Customer satisfaction is the company’s top priority, big data can reveal problems in product delivery, customer satisfaction levels, and even brand perception in social media. It is easier to make sustainable change to customer service when a company have defined areas of improvement
6. Generate increased sales
Big data can give recommendations and coupons to fit customer desires.
7. Predict trends and forecast demand
Big data can help companies to prepare for emerging trends, slow, or potentially booming parts of the years by evaluating data from the previous years.

Comments

Post a Comment

Popular posts from this blog

How Big Data Can Boost Weather Forecasting

張岳庭 D0741017 Source:  https://www.wired.com/insights/2013/02/how-big-data-can-boost-weather-forecasting/ Considering the number of variables involved and the complex interactions between these variables, weather forecasting has always been extremely challenging. The significant increase in data collection and processing capabilities has greatly improved the ability of weather forecasters to pinpoint the time and severity of hurricanes, floods, snowstorms and other weather events. Globally, more and more evidence of climate change is prompting governments and scientists to take action to protect people and property from its effects. But to take effective measures, they need to know more about the weather-from everything that will happen tomorrow to what will happen next year. According to the professor of economics and finance , Alan Anderson, PhD , “Example of an application of big data to weather forecasting is IBM’s Deep Thunder. Unlike many weather forecasting systems...
Read more

How Big Data is Changing the Production Industry

Blog#4 : How Big Data is Changing the Production Industry Name : Aileen 蔣慧玲 Student ID : D0726917 Source :   https://www.productionhub.com/blog/post/how-big-data-is-changing-the-production-industry Information technology plays a major role in Hollywood. Producers have to use big data analytics to get the right consumers and communicate with them well. Big data technologies will help filmmakers figure out the best ways to share their ideas and deliver messages, develop movies and content that involve ethical and societal issues. Therefore, information that we can get from the help of big data can help filmmakers make key decisions. Big Data is Changing the Production Game Big data technology can help filmmakers to connect and engage with consumers more directly using social media, mobile devices and traditional advertising outlets. Using this technology, producers can develop promotions that reaches the right consumer at the right time. It is not enough just to mainta...
Read more

Big Data case study: 5 relevant examples from the airline industry

D0740712 Connie  吳霈晴 Website: https://blog.datumize.com/5-relevant-examples-of-a-big-data-case-study-from-the-airline-industry With the summer vacation coming, travel is the one that people love to do during vacation, especially long vacation, going abroad may be the first choice for many travelers. So this makes me think of what is the relationship between big data and airplanes? How will it apply on the airline industry? This article tells about the benefits of big data on airlines, which covers three main advantages. 1.      Smarter maintenance 2.      Safer flights 3.      Improve service The first one includes the fuel of airplane, by analyzing and predicting, the article takes some specific airplane company as an example, giving the real number and how much they save the cost. Second, safety. Like this kind of transportation has a higher risk to take, if have the big data’s help, th...
Read more