The consumption of data is growing at an accelerated pace. Deep Learning as a phenomenon associated with and related to artificial intelligence, able to define, recognize and distinguish different patterns. It is a powerful tool for marketing. Google, Facebook or Amazon, among other giants of the network. All are betting heavily on this type of technology, capable of generating new opportunities.
Specifically and in the field of electronic commerce, these techniques are being used to carry out a new level of strategic marketing and provide better user experiences.
The online retail sales obtained the last year 2016 a total of 1915 billion dollars worldwide. Although retail represent almost 9%, this percentage is expected to reach 14.6% in 2020.
How to use big data in E-commerce?
Data are currently missing from more than a third of the vendors and must admit that lack of communication is the main obstacle to having this information.
The panorama is the following. 51% are unable to access this data, so it is difficult to measure ROI. 45% do not work with data and personalize marketing communications. 42% do not have the necessary technology to link customer data. 39% rarely collect data.
In this case, what elements should we take into account? The data algorithms of social network publications and browsing habits and behaviors to detect which actions are generating the most noise.
Analyze ad data to see what marketing actions are working
Find out the opinion or how to talk about a specific product. Are opinions good or negative? This can be used to anticipate and highlight your products for sale by categories
Check and improve the prices.
Big data allows buyers to identify the most competitive price per shipment, competition, and other variables. Through data on a certain demand or drop of a product, price changes can be made in a matter of minutes.
Customize your store
Having stock in warehouses is expensive to maintain. Amazon, for example, uses historical data based on the demand for specific dates. It also works with the brand and reference data along with the number of visits to several product pages, to assess whether it will attract consumers. This data is shared with the sellers.
With big data, you can create e-commerce and dynamic online stores with easy usability that attract the user.
Optimize customer service To improve the purchase process and loyalty. The Big Data allows analyzing the behavior during each purchase process.
It generates more sales
The point of abandonment during the purchase is a challenge for the seller. Big data allows us to analyze these points carefully and prevent potential abandonment by improving and encouraging conversions.
What role does Big Data play in eCommerce?
The eCommerce business is one of the sectors that has benefited most from Big Data. This is because online stores have a large amount of information at their disposal is sometimes used by identity verification services such as Fully-Verified, but more often than not by fellow e-commerce sites. Above all, the possibility of modifying their strategies based on the analysis of that information.
The eCommerce stores track all the information that the client offers them. But how can Big Data benefit the operation of an online business?
As mentioned above, the most important information is to analyze and collect it in databases that are truly useful for the decision making of the company. Big Data allows companies to store all this information and use it according to their interests to organize their operation. Create their strategies and make their own decisions.
Logistics and distribution
Big Data is solving one of the main problems of eCommerce companies: asset control and demand forecasting. Through the information gathered by Big Data systems, different tools can be organized and created to help eCommerce businesses manage the products in stock and their distribution. Also, with quality information and a good analysis of it. You can even predict the demand, following patterns of behavior of different customers or users.
Online businesses are advancing by leaps and bounds, thanks to Big Data, towards the extreme personalization of the user’s purchasing process. Customers want to experience unique shopping experiences. Working in that direction helps to achieve customer loyalty with the brand. All the information that a user leaves through his navigation through an eCommerce business must be processed to facilitate. The customer can enjoy a series of services specifically tailored for him.
Advertising and marketing
As in the purchase process, the different advertising and marketing campaigns of any eCommerce business must be much more personalized to be much more effective.
The Big Data allows from personalized product recommendations, personalized email marketing automation. The recovery of carts or the change of some elements of the online store depending on how the users browse, to give some examples.
Following the line of customization, the Big Data analysis also represents a real breakthrough in the quality and customer service that any eCommerce company can. It must be personalized, but it must also be fast and efficient. So, the processing of data from previous experiences can effectively solve these problems.
Big Data is also a perfect tool to analyze the prices of the rest of companies that compete in the same eCommerce market. In this way, knowing how to process the data well, a dynamic and variable pricing policy can be established. It always places the online store with a significant comparative advantage.
In this way, Big Data provides a large amount of information to eCommerce companies. They are well analyzed and managed, can suppose an important comparative advantage in the markets in which it operates. So that, it will also increase.
Remember that eCommerce is a market that is always evolving. So, you will have to analyze your scope of action with different techniques to avoid losing market opportunities and gain an advantage over the competition.