Overview on How Big Data Works for Ecommerce Business

big data and social media

Big data refers to extremely large sets of that often require computational assistance to disclose hidden patterns and information, specifically those relating to human behavior and interactions. When we say analyses of such big, we point to big data analytics tools that help organizations revealing relevant information and patterns from this giant hub of in a most efficient manner.

A lot of e-commerce businesses today depend on Big Data analytic as it helps them to learn about the customers, their behaviors, and operations. For instance, social media is collecting loads of data about their users behavior. The information about the customers is derived through web scraping by experienced analysts. That being said, it’s really important for us to not only be careful with bad websites but all websites on the internet, in general. 

Based on the data collected, the companies can build their marketing strategies and improve their services. Below mentioned are five ways that e-commerce organizations can use Big Data.

Customization

Some customer data is available, including loyalty programs, previous purchases, and browsing patterns. The online retailers can gather the data, divide their customer base as well as figure out the optimal offer. Also, they can include a layer of personalization in their marketing emails by referencing the previous purchases. Customization or tailor-made services breed loyalty and can lead to repeated purchases.

Dynamic Pricing and Advertisement

A website scraping provider can create a profile for each customer by gathering and processing their behavioral as well as demographic data. The profile can represent the price-point or promotion, which the company needs to offer to their customers to engage them again and persuade them for making another purchase.

Where some can convert with free-shipping offers only, the others may prefer 30% off deals. The e-commerce companies need to spot what works the best for their customers.

uses of big data

Customer Service

Most online customer services leave a site because of bad customer service. It is, therefore, crucial to improving customer services to increase sales. The large set of data can assist in coordinating services across customer communication channels, which includes email, live chat, and phone. Aside from this, identifying when and where the customer support is required will also help you in allocating resources. Doing this, the agency will be able to settle customer conflict within a very short period.

Management of Supply Chain

E-commerce companies are expected to be aware of the importance of supply chain management. Big Data enables the retailers to figure out the patterns, which can forecast potential hiccups so that preventive measures can be taken.

Predictive Analysis

Scrape websites offer Big Data that allows deriving an in-depth picture of various channels in the business, which includes inventory or sales. The companies can use Big Data to examine specific times when sales of a few products are likely to surge. Being able to forecast the future trends will add flexibility in determining the next steps of business operations.

Fraud Prevention

Big Data can identify the regions, countries, and states, where fraud is frequent. Also, it can spot customers who tend to breach COD commitments. The Big Data provides micro-localities where payment defaults take place the most. Analyzing this information will help the companies in taking preventive measures to stop fraudulent activities and monetary loss.
Additionally, based on social media scraping and searches made by the customers can help the e-commerce companies introduce products that the clients may like. While it is beneficial to know about big data, it’s also important and useful to know about real time data. So, if you’re interested to know about data acquisition basics, check out Daqifi’s page.