5 Ways to Improve eCommerce With Big Data
Big Data can be used for a lot of different things these days. This article takes a look at 5 ways that Big Data can help to improve the eCommerce industry.
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Big data has been a hot buzzword in almost every industry as companies’ frantically attempt to use software and information analyses to their advantage. Big data involves collecting large amounts of customer material and then uses that information to uncover patterns and insights within human behavior. The collected interactions allow the opportunity for eCommerce franchises to learn and adapt to the input of their patrons, operation changes, and marketing.
Enhancing Customer Service
A huge majority of online shoppers will leave websites without making any purchases due to poor customer service. Offering online self-services, text, and email push notifications and other social media services are just some of the ways that eCommerce companies - from companies selling physical products to software providers and even niche sites offering comparison of movie and TV streaming services - can improve their business. Taking this process a step further with big data allows the business to coordinate services across these various channels of communication and collect data from customer input. Using data to understand which issues clients are concerned with can help you focus in on what user feedback is important and how to properly allocate your resources to fix unhelpful features.
Creating a Personalized Experience
Browsing click patterns, customer purchase history, and loyalty programs all help to provide access to customer data. Companies with eCommerce can collect and segment this data to determine the most efficient ways to put purchasable items in front of each user. Amazon is one of the most widely known companies to have a huge success by adjusting user’s search results and recommendations based on purchases and browsing.
The personalization of a customer’s shopping space brings a connection between the user and company. Loyalty and repeat customers are more accustomed to shopping in spaces that feel modified and tailored towards their needs. You can add an extra touch to the shopper’s experience by mentioning previous purchases in recommendations and individual marketing advertisements. Offering special promotions such as discounts and free shipping to loyal customers is a way to bring back those who have previously abandoned shopping cart items.
Predicting Future Industry Trends
Keeping track of popular customer preferences helps to analyze future industry trends. Being able to preemptively adjust your supply through the use of big data technology can keep you ahead of the curve. If your customer is interested in the latest swimwear or trending jumpsuits the business can avoid the loss of revenue through preparing the right items and avoiding out-of-stock situations.
Social media is a huge resource to help analyze what customers are interested in and buying. Having real-time views of demand, sales, and sourcing helps to analyze where retailers need to avoid back orders. Doing comparisons based on purchase history, product leads, and other factors such as weather changes helps to avoid any unexpected situations in the market.
Keeping Track of Delivery Management
Big data has helped to improve tracking of delivery shipments through real-time analytics of weather, traffic, and geological location. Sensors can be placed within the packages to help determine the conditions and delivery time of the package and relay that information back to the customer. These statistics are important for clients with high-priced, perishable, or time-sensitive goods. This analysis is easy to implement without adding any significant changes to your currently existing supply line.
Keeping Up Your Brand
The image and reputation of your company is the eye of your business within the realm of personal opinion. In this era of social media and technology, your online presence and reviews of your business have a huge financial impact on your establishment. Being able to protect your intellectual property and gain insight into your customers’ opinions about your company are all tasks easily handled by big data. eCommerce companies use analytics for emails, cell phones, and social media accounts to help spot early warnings signs and spot interesting collections of customer behavior and activity.
Using big data analytical software to improve eCommerce has a lot of important and influential information behind it. Being able to predict industry trends, staying on top of your supply and demand, and curating customer opinions are all vital ways to improve the efficiency of your company. Grabbing large quantities of quality information and being able to properly analyze the data is vital to keeping your company alive and thriving within the eCommerce industry.
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