Big Data – An Essential Tool To Boost eCommerce

Big Data, an essential tool to boost eCommerce

The use of Big Data will allow eCommerce to improve decision-making, control of operational processes, and understanding of customers, as well as a reduction in costs.

A correct use of Big Data is a fundamental tool to grow an eCommerce channel. And, in order to manage the large amount of data available and to be effective for the operation of electronic commerce, it is necessary to focus on the circle of competition and on the way the world works, taking into account an unpredictable context and having the necessary adaptability.

Today, in the e-commerce market, there is fierce competition and less customer loyalty to the brand. Therefore, it is necessary that eCommerce is constantly looking for new ways to retain customers, as well as to improve their experience.

Electronic commerce is agile and allows the possibility of reaching a global market. In this sense, as mentioned, it is key to operate within the previously established competition circle with the aim of taking advantage of its experience to amplify its production. The correct use of this knowledge of the market can entail a greater benefit than that which acts outside its circle, using the same level of effort.

The importance of Big Data

Through Big Data analysis it is possible to reveal patterns and trends in consumer behavior, allowing a series of decisions to be made based on these data; however, less than 0.5% of the available data is used for this purpose.

A BARC study points out, as some of the benefits that can be obtained from the use of big data, better strategic decision-making (69%), better control of operational processes (54%), a better understanding of the customers (52%) and cost reduction (47%).

Likewise, that eCommerce that is driven by data analytics, measure and enhance buyer analytics, customer service, customer experience personalization, provide a more secure online payment process and enhance targeted advertising.

Use of Big Data

Through data analysis, a consumer analysis can be carried out, preparing their profile, and reflecting their preferences and buying habits, which will allow improving eCommerce operations and even reveal unexpected purchasing behaviors.

Also, keep in mind that customer service plays a very important role in electronic commerce. In this sense, 71% of online customers expect to access the online help service in five minutes. In addition, it must be taken into account that 13% of customers who are not satisfied will transmit their opinions and / or feelings to a minimum of 15 people; while, if their experience is positive, 72% will share it with at least six people. For their part, online retailers can use Big Data to analyze the customer service experience, detecting the speed of their response times, as well as identifying and solving potential problems before the customer gets involved.

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