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Big Data Analytics can help e-commerce Firms during Diwali
Diwali is the festival of light that celebrates good times. The same can be applied for e-commerce companies which are operating in India. It can be a festival of profits and good times.
Companies can give away huge discounts and deals to push sales. In addition they can use celebrities to advertisement their online store. Diwali can be some sort of America’s Black Friday or the Cyber Monday when huge discounts are offered in the United States. We will try to look into the ways and means Indian e-commerce companies can adopt some of the best global practices in big data analytics to make their customers celebrate Diwali with greater joy.
The common areas of concerns are mentioned as follows: -
1. Big Data Analytics for predictive discount based on the consumer click behaviour, their historical behaviour, their social network media data appends, and not than their reactive behaviour of going off with the competitors. In this process, analytics could help by creating a more proactive approach for recommendations totally based on statistical association analysis, the time spent on the online store, their browser cookie behaviour , mode of accessing the e-commerce platform, instead of offering a straight discount. For e.g if Ratan Tata visits FlipKart to buy a smartphone, he would get see the same search interface like anyone else and get the same discount offer as shopkeeper from Delhi. The question we can ask ourselves: Is it possible to make better use of analytics so that the offers could be more personalised.
2. Big Data Analytics for good catalog management than just creating a clutter of goods/products that will overwhelm users with bad user-experience. This process should be done in an ongoing basis. In India during Diwali, people clean their houses and the same can be done with your website – make it look neat and tidy. Remember the story about goddess Laxmi who prefers to enter homes that are cleans and with zero wastes lying around.
3. Better marketing campaign on emails, mobile phones and other marketing channels. The campaign analytics must be able to help in predicting warnings besides creating a trigger for spotting some interesting customer behaviour with regards to clicks, conversion and payment. We should be able to identify which channel should the client be incentivised and in what way. If the e-commerce data technical team has already integrated the company’s business operations systems, the customers will be seeing a UniChannel irrespective of the platform they come from.
4. Proper infrastructure planning for your e-commerce digital assets. The most common problem in many of India’s e-commerce IT team is that, on big sales days, they failed to prepare of crashes, hanging and frozen screens. Here analytics can play a vital role to the development team to properly plan whether there is need for setting up virtual machines and extra bandwidth.
5. Mobile Analytics vs Digital Analytics vs Big Data Analytics. Businesses must be clear about the differences and features of these analytics. Mobile Analytics gives different set, but unique IDs, than the browser cookies. As a result, you get different set of information and data for analysis even for the same client. Website Analytics on the other hand generates different volumes of data and Big Data Analytics involves a totally different technology for better analysis, storage & scoring of data on models which are based on streaming flows. The Adobe Omniture and the Google Analytics, both, have APIs which can be leveraged with the use of statistical software for far richer decision making process.
For businesses to have a happy Diwali, they should seriously look into their data and conduct proper analysis by adopting global practices. A win- win situation for customers and e-commerce promoters is possible if all stakeholders use data analysis in the most efficient manner. Woops ecommerce management system also makes it easier for your business to introduce Big data analytics tools in a very simple manner. Since this extra tool is available only on the Enterprise version, you will have to reach out to the customer care if you are keen on reaping the benefit of Woops Big Data Analysis.
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