Big Data In E-Commerce -Use cases-
Introduction We know the creation and usage of data has been increased exponentially all around the globe. This incredible increase in inďŹ nite data sets becomes the root of Deep learning(AI) to emerge as the hottest tech trend everywhere. In the previous article, we have discussed such uses cases of Deep learning in social media especially Facebook, and now we are going to see how big data is being used eďŹƒciently by the top e-commerce industry leaders, and what are the use cases of big data analytics in the e-commerce industry?
Big Data In E-commerce Scenario : Have you ever seen an ad on Facebook, Twitter or on a website that shows a product which you have browsed in an e-commerce website a week before?? If you have seen this, you have become the targeted customer of them for the preferred product item. They used to show their ads again and again, and send you marketing campaigns, or sales pitches through any medium until you made a purchase, or even after the purchase. Why this is happening? How do they know you have browsed for a product?
Big Data In E-commerce Because All our actions on an e-commerce website are kept stored along with cookies and browsing histories, then that information will be transformed into data or data sets. Based on that data, e-commerce businesses will send you enhanced marketing campaigns, sales pitches, special deals, offers and etc. This is one of the big data concepts that e-commerce websites often used in order to strengthen their sales funnels and this will be the main objective using big data in e-commerce.
Big Data In E-commerce E-commerce websites like Amazon or don’t have any option to maintain user retention. So, they just need to track the customers and target them based on their location, age, interests, shopping behaviors and so on with the optimized advertisements. Since this kind of customer targeting brings a huge ROI, they believe data analytics along with advertisements as the backbone of business growth.
Interesting statistics â—?
In 2017, Amazon has become the fourth-largest advertiser in the U.S along with the massive investment of $3.4 billion on advertisements. Reference adage.com
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Also by 2017, the annual marketing of Amazon was $10.070 billion dollars. Reference : spinutech.com
So, it is clear that all the e-commerce sites are believing that, advertisements as the main source for their revenue, But, before executing those optimized marketing campaigns they have to analyze their customers with data analytics. This is how big data works in e-commerce
Big data Use cases in E-Commerce Industry 1. The use of Predictive Analytics 2. Optimizing the Product Price 3.Helps to Forecast the Demand 4.To bring Better Customer Experience 5.To create Personalized Stores 6.To Increase Conversion Rates and sales 7.Can increase the decision making on micro-moments Read out the Detailed Explanation Of this Use Cases @ Bibrainia.com
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