Technology today is helping e-Commerce businesses make stronger connections with markets and achieve a deeper understanding of their customers need. The impact that innovation is having on the e-commerce world is fast and durable: three technologies, in particular, represent a fundamental support for developing a successful business strategy and achieve invaluable advantages over the competition.
Big Data is a disruptive technology when it comes to e-Commerce since it can make savvy businesses increase profits and achieve a greater success over the next years.
There’s a good reason for its popularity: business owners have realized that it can provide a significant support for making critical decisions.
The applications of Big Data in e-Commerce are quite unlimited and they relate to the capability of analyzing the information that flows to and from an online store.
Inventory, sales data, payments, visitors behavior, product recommendations: consider just how many pieces of information you can collect in one day and you’ll see that you need Big Data muscles in order to get the most out of them.
Big Data opens the opportunity for the analysis of this information since it provides the right architectural solutions for processing huge amount of data.
Advanced e-Commerce features, just like personalized user experience on your website, dynamic pricing, and real-time recommendations are simply unfeasible without a solid Big Data platform.
Running a growing business, with a large inventory and a multichannel selling strategy, means dealing with an increasing volume of things to do. The same way, inventory and labor costs are destined to increase. Especially in a growth phase, automation is the mindset for your competitiveness. The more you can automate, the more you can reach your goals in terms of efficiency, cost reduction and sales.
You need automated solutions for doing much of your time-consuming and repetitive work.
Demand estimates, purchase orders issues, products management across channels, shipments: these are just some examples of jobs where automation can definitely make you save time and money.
If Big Data provides the platform and automation improves your workflow, Machine Learning is the technology that strongly affects the quality of your decisions.
Learning algorithms are the only way to deeply understand sales trends, customer behaviour, and competitors: this knowledge is fundamental when it comes to making the right decisions.
Predicting a product demand, forecasting new items, estimating the impact of promotions and market campaigns, classifying products and identifying keywords for your copy are tasks that a Machine Learning engine will do better than any human.
Advanced Demand Forecasting and Inventory Optimization tools use Machine Learning for both predictive and prescriptive tasks: once they extract valuable insights from your data, they can suggest decisions with respect to your goals: preventing out of stock, avoid excess inventory, maximize your purchases ROI. Intuendi.com, in particular, delivers the advantages of predictive and prescriptive analytics in a completely automated solution that runs Machine Learning algorithms on top of a Big Data platform. All the technologies that will make your e-Commerce grow.