Analyzing the Relationship Between E-commerce and Big Data

Global sales are expected to reach the mark of 2.35 trillion(USD) by 2018. The figures are enough to testify the fact that e-commerce sales are skyrocketing at an unimaginable pace. If you are a business owner thinking to start your e-commerce startup? Or an e-commerce entrepreneur looking to expand your base further in the industry? It is really the high time that you should making your move and increasing your revenue generation.

In this blog, we are going to cover the relationship between big data and e-commerce industry. There are various benefits big data for the sector. So let us get started:

Improved optimization of portfolio of the product

The large amount of structured data can be perfectly analyzed which gives way to a more detailed analysis of the targeted group. Depending on the results, website, and its offerings can be customized according to the specific user-section.

Improved Customer service

With a stockpile of data available, Big data enables you to utilize the customer history that can be used to improve your customer relation at a considerable extent. Because you know the higher the quality of your support, greater will be the competitive advantage.

Online advertising like never before

Last but not the least, with big data you can easily target the customers with ads specific to them. Not only that but real-time advertising is cheaper and efficient than ever before. An ecommerce web development company can play an important role in this regard.

Upselling

When it comes to upselling, Amazon is second to none. When the company started the recommendation feature with “Customers who bought this item also bought…”, it astoundingly increased the sales by 35%. So, to take note, upselling for your brand can also prove to be beneficial in your case for engaging your customers. As a result, this customized experience can help you make a drastic impact on the CX (Customer Experience) of the customer and the overall sales generation. Fraud Prevention

Implementing Big Data and analytics solutions provide valuable insights into the areas where there are scams related to credit cards and dishonest COD (Cash On Delivery). By conducting a careful analysis of these regions, ecommerce brands are able to make required changes in the shipping process for preventing such fraud and cut down related loss.

To conclude, Big Data is one of the most innovative developments of the 21^st century. And this development has been drastically changing each and every sector around. Ecommerce industry is no exception. In many ways, this is just the beginning of a new way of defining the relation between customer and the brand.