Relevance of data analytics in the E-commerce Industry
The importance of data in today’s world has reached new heights, where companies are relying on data sets to understand performances and arrive at business decisions.
Data analytics is relevant in the e-commerce and retail industry. Data analytics can predict purchases, profits, losses, and even manipulate customers into buying things by tracking the customers’ behavior. By analyzing who is buying your products and shopping with you the most, you can fine-tune your sales funnel to help drive revenue.
Let’s take Netflix for example. They make use of complex machine learning components and deep learning algorithms which are designed in such a way that they can keep a track record of every customer’s online behavior and analyze the patterns to suggest shows based on this data. That’s why every time Netflix recommends movies or TV series to you, it’s probably something you are going to watch!
At Emmviron, we can help develop Analytics tools to help do the following;
· Grow your business
· Reach out to more customers
· Find areas for improvement
· Tap into marketing strategies to compete in your niche
· Ensure your eCommerce platform is easy to use
· Understand your most popular products and service
· Predict future user behavior
Is your company not looking into data analytics for now? You can also take your business to the next growth level by exploring our other services which include:
· Business planning and development
· Financial modeling and projection
· Market research and intelligence
· Feasibility study
· Market strategy and implementation
· Sales funnel
· Website design and development.
Click here to contact us and get started!