5 Tips to Increase Sales using Big Data E-commerce Analytics - PowerPoint PPT Presentation

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5 Tips to Increase Sales using Big Data E-commerce Analytics

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Today, the Business Intelligence landscape is dominated by Big Data and online retailers are rapidly adopting Big Data analytics solutions. Let us understand how Big Data analytics is making an impact on the retail landscape and how online businesses can use e-commerce data analytics to increase sales and user engagement. – PowerPoint PPT presentation

Number of Views:25
Date added: 6 December 2018
Slides: 10
Provided by: deepakiqlect
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Title: 5 Tips to Increase Sales using Big Data E-commerce Analytics


1
5 Tips to Increase Sales using Big Data
E-commerce Analytics
2
Big data and online retail business
  • Retailers who leverage the full power of big data
    could increase their operating margins by as much
    as 60
  • 1.7 MB of data will be created every second for
    every person on earth by 2020
  • Today, the Business Intelligence landscape is
    dominated by Big Data and online retailers are
    rapidly adopting Big Data analytics solutions
  • The immense variety of data available to
    e-commerce businesses has positively impacted
    business efficiency

3
5 Ways to use big data analytics in e-commerce
  • Intelligent Marketing and Advertising Strategies
  • Optimize Sales Funnels
  • Optimize Product Listings
  • Inventory Management
  • Futuristic Customer Support

4
Intelligent marketing and advertising strategies
  • Big data analytics can paint a complete consumer
    picture which helps businesses to come up with
    intelligent marketing and advertising strategies.
  • Shopify is one of the online e-Commerce platforms
    that primarily rely on the drop shipping model.
  • Intelligent and strategic marketing efforts do
    certainly make an impact on sales and
    conversions.
  • Big data can help in effectively optimize
    advertising to reduce costs and boost sales. It
    also helps in making consumer engagement better
    on store.
  • Retargeted advertising is one of the most
    successful e-Commerce advertising strategies and
    big data analytics helps a lot in this.

5
Optimize sales funnels
  • Big Data analytics solutions have built-in user
    tracking tools that effectively track various
    actions of users.
  • This allows e-commerce business owners to
    identify the pain points in the existing
    conversion process and take actions to rectify
    errors.
  • E-commerce stores can gain actionable insights on
    clickstream data received from users, as well as
    find out which products and categories are
    popular.
  • This data can also be utilized to enhance the
    functionality of the e-commerce sales funnel and
    encourage visitor engagement.

6
Optimize product listings
  • Optimizing product listings on e-Commerce
    websites has rapidly become a widely adopted
    practice in the industry to enhance landing pages
    and overall store performance.
  • Big Data analytics has played a pivotal role in
    this optimization process by introducing various
    automated tools to optimize product listings on
    several pages. These tools provide reports and
    insights on how to further improve product pages
    for e-Commerce stores.
  • Using automated optimization tools and solutions
    to gain a deeper understanding of their product
    listings can help e-Commerce businesses boost
    conversions.

7
Inventory management
  • Several e-Commerce stores find that keeping track
    of inventory is a big challenge as there is no
    unified process that allows them to track their
    inventory.
  • Use predictive Big Data analytics to identify
    inventory trends
  • Big Data analytics for e-Commerce businesses
    allows store owners to accurately predict
    inventory trends in order to optimize store
    listings and see an improvement in revenues.

8
Futuristic customer support
  • The introduction of chatbots in the e-Commerce
    industry is rapidly making it possible for
    e-Commerce stores to automate customer support.
  • Now, in this age of instant communication,
    customers are increasingly expecting real-time
    responses to purchase related queries.
  • Chatbots created with built-in Artificial
    Intelligence and Natural Language Processing
    capabilities can respond to trigger words or
    transfer the queries to human customer
    representatives.
  • Tap the potential of Machine Learning and
    Artificial Intelligence to enhance the customer
    support experience.

9
Final words
  • Big Data analytics is strategically poised to
    revolutionize the e-Commerce industry in the
    coming years.
  • Big Data analytics has quickly become a necessary
    ingredient of a successful e-Commerce business
    strategy.
  • Learn more at IQLECT
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