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How Big Data is impacting the eCommerce industry

A few years ago, the likelihood of eCommerce stores using Big Data to ensure its growth seemed unthinkable. However, this has now become a necessity due to the rising popularity of customers visiting websites through mobile devices and the need for eCommerce businesses to reach them.

In order to retain their customers and maintain a good competitive advantage, large corporations have turned to using Big Data Analytics in order to maintain their position in the growing eCommerce market. With this in mind, it is about combining the experience of physical stores with the purchase of products online.

Evaluating User Navigation

Monitoring how customers navigate within your eCommerce website, including clicks and purchases, is possible thanks to the use of Big Data. With segmentation based on the combination of purchase and interest patterns, you can get enough accurate information to help guide the direction of your marketing campaigns. These follow-up actions tend to intensify before and during festive seasons due to a change in the latest data trends that are generated by certain queries.

As an eCommerce store owner, this type of information helps you prepare for the following:

  • Stocking your inventory
  • Providing discounts for products and/or shipments
  • Including coupons to use on a purchase (or future purchases)

Companies depending on the accuracy of Big Data analysis, as well as investing in campaigns and tools that digitally enhance their management, have allowed them to have a better receptivity of their audience.

The Influence of Big Data on Small, Medium and Large Businesses

With data that reflects market behavior, companies can maximize their sales by taking action to attract new customers. Many of them choose to use referral systems to influence purchasing decisions based on searches, social profile actions, and past purchases made by the audience. This allows them to recommend specific products and increase the chances of closing a sale.

On the other hand, Big Data for eCommerce allows the dynamization of costs when analyzing the prices of the competition, the time they have spent on your website, and even the origin of the most recent purchases in order to set up adequate offers based on the appropriate time and place.

In addition, the use of Big Data helps you:

  • Know the statistics of the most visited pages
  • Analyze where users’ attention is directed
  • Study testimonials about your products on social networks
  • Examine the number of abandoned purchases and when it happens
  • Analyze which products sell the most and which ones sell the least
  • Customer Feedback

The growth of your company is usually proportional to the level of satisfaction of your customers, so having an analysis that provides data about your experience within the company may be the key to improving the products or services offered. Big Data helps you identify and classify the positive or negative opinions of users to provide clear ideas about the issues that need to be addressed for their convenience.

The real-time analysis of Big Data is part of the great number of advantages that companies obtain when using it since it provides solutions to specific issues almost immediately. In addition, when the data is used properly, it is an extraordinary tool that allows eCommerce stores predict when and where to find potential customers.

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