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E-commerce

How to gain a competitive advantage in small e-commerce with big data

Analyzing the data offered by Big Data and their use could present a significant competitive advantage to merchants in the e-commerce sector. Term Big data is applied to both structural and non-structured data sets that are so large that it is difficult to follow traditional database and software techniques. In contrast, it may seem at first glance that big data is only accessible to large retailers. In reality, all e-commerce can benefit, no matter how small.

made the data Big data in the data field are fixed inside the base, for example, users personal data or date of purchase. Unstructured data They refer to emails, tweets, “likes,” or “shares” votes on social media. None of this unstructured data stored in a fixed database that retailers can access. However, they are a very powerful research tool for companies.

Traders can use large amounts of data in many different scenarios. This may include comparing the traffic received by a particular product to the sales volume of that product. If a product receives a lot of visits but some sales, the analysis of the data obtained can explain that leads to a change in strategy or detection of some kind of error.

4V big data

The challenges are summarized in relation to the big data called 4V’s: volume, speed, variety, and value.

  • The challenge  Volume why most companies developed their systems much more data than it exists.
  • The challenge of accelerating is a challenge when data analysis or storage is slower than its generation (for example, when you have many transactions at once without an online store).
  • Challenge  Type  the desired vision (social media data, customer service calls, visit data, purchase ratio, etc.) This is due to the need to take action on the data to produce different varieties.
  • The challenge of value is how we develop insights that make data valuable because only by asking the right questions will we find useful answers.

How a small eCommerce can handle big data

Most retailers think that big data analytics is only available to big companies. However, data analysis is very important for small businesses and electronic devices and must be competir with the biggest people, especially those who can truly interact with their customers.

Take advantage of the use of big data to allow small retailers to personalize their use functions, create dynamic pricing, offer better customer service, manage fraud, actual product availability, and the status of purchases made. I should report and predict the future.

Personal

Buying differently from each buyer. Real-time data helps you provide a personalized experience that refers to both content and promotions, including rewarding the most loyal and returning customers.

Dynamic pricing

Achieving this is a big advantage in the market when competing for price. They need to keep in mind the competitive price, sales volume, client preferences by region, and so on.

Customer

Excellent customer service is oxygen to the success of e-commerce at all stagesThe chat can quickly improve the services offered to customers by the contact form or through comments on social networks. The solution will be faster, and buyers will feel better offered.

Fraud management

Big data makes it possible to detect fraud in advance, even in real-time. The infrastructure required will transform this online store into a safe environment for business growth and improve your profits.

Visibility of product data and purchase status

Consumers are waiting to be notified about the availability of the original product or what you will have to wait for and, if so, how long. In addition, it is important to inform the client about the status of your purchase, so you can always know where your products are and make sure they are in control.

Future predictions

A business needs to predict the maximum level of its stock and even the level of ready-made supply.

Result

This look like a daunting task, but technological advances and fierce competition between e-commerce and marketing solutions providers mean that these challenges can be met with small e-commerce. The key is not to frustrate a small business because it is online. Take advantage of its small size, especially to stand out where the greatest difficulties are. But for that, you have to enter the biggest game of the game and use their weapons.

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