Big Data: The Future of E-Commerce


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Big Data: The Future of E-Commerce

Greetings, friend.

It gives me great pleasure to introduce Alex Trinidad to you. Alex is a risk and security advocate in one of the world’s leading cybersecurity solutions. He has committed to providing valuable information on the importance of cybersecurity through diverse topics on security solutions like endpoint protection for enterprise, internet security suites, mobile device security and a lot more.

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Big data has become more popular in recent years as businesses have learned to tap it into making crucial decisions. Big data has helped in seeking and fixing problems, in telling how the business fairs, and in justifying causes for action.

We believe that there is more that we need to understand when it comes to big data. And when we do learn more, there are lots more we can do with it. We further believe that big data is the future of e-commerce.

E-commerce is the sweet spot of business and technology, making it an ocean of Big Data. Some of the information that flows to and from an e-commerce business includes inventory, sales data, payment data, delivery information and others. Consider just how much transactions happen in one day and you’ll see just how much overwhelming all the numbers would be. Without an efficient big data processing system, it would be a complete nightmare!

Big Data also opens a lot of doors for an e-commerce business. It opens the opportunity for the analysis of sales, for the efficient tracking of transactions with issues, for forecasting demand and supply, for planning out expansion, and a lot more things. Big Data truly has a lot to offer for e-commerce and that is why its understanding essential.

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What are Concrete Examples of Benefits that Big Data Provide for Ecommerce?

One of the most known e-commerce companies is eBay. There are around 164 million active buyers in eBay daily – imagine just how much data that would lead to! One of the biggest challenges for eBay is not only having a data warehouse system that can store that much data but to give meaning to these data and use this intelligence in order to drive sales even more.

For eBay, big data serves as a tool that helps them improve and personalize user experience. With big data analytics, eBay is able to recommend similar items to the one a guest is searching for. eBay is also capable of detecting fraud thanks to predictive machine learning that roots from the analysis of previous transactions. eBay has placed a lot of time and effort in understanding big data and to make actions about the knowledge that can be taken from it.

Alibaba is another key player in the e-commerce industry. One of the purposes that Alibaba uses big data for is the assessment of credit risk for its small-loan business. This is done through the analysis of cash flow, of the behavior of suppliers and customers, and of sales growth.

Big data has surely played a huge part in keeping these two e-commerce giants on the forefront of the e-commerce industry. Making use of big data to understand their businesses better has given them the ability to know the right thing to do in order to keep them at the top of their game.

How Can Big Data Help Your Ecommerce Site?

Big data can serve you in a lot of ways. We already know how some of the e-commerce giants have made use of big data to their advantage. There are some more ways on how big data can help you out. Thanks to the effective analysis of big data, you will be able to do the following:
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1. Provide a Personalized User Experience for Your Site’s Visitors

The e-commerce experience used to lack personal touch, preventing the user from having any connection with the business. A buyer will have to go through all products, without highlighting the ones that he is most interested in.

Thanks to big data analytics, you will be able to recommend items that the user usually looks for. You will also be able to send personalized promotions for the user, giving him those that really mean something for him. For example, a user usually searches for gadgets, then he will receive recommendations and promotional materials related to smartphones and laptops but not those for clothes and shoes.

READ: 5 Ecommerce Tips to Improve Your User Experience and Increase Conversions

User experience does not end on our websites, but on security as well. While big data has the potential of skyrocketing our sales, it is also prone to security mishaps if not used properly. As of this moment, our best bet in securing ecommerce transactions lies on SSL certificates, which AltusHost also provides.

2. Be Agiler when it Comes to Pricing.

Your pricing strategy is one of the key determinants on whether or not a consumer would buy from you or from your competitors. It will be all too easy for your visitors to check other ecommerce sites in search for the best deal. It is just illogical to pay more for the same item when it is offered cheaper on another site.

Checking your competitors’ prices every now and then would be too tedious. With big data analytics, you will have the ability to check how much your competitors tagged their products so that you will be able to respond accordingly.

3, Turn Visitors Into Actual Buyers.

The ultimate goal of spending time, effort, and resources into understanding big data is to help you improve your business and this is evident when you attain a higher conversion rate or turning more visitors into actual buyers.

With big data, you will be able to know more why certain visitors end up leaving, as well as why certain others decided to buy. This way, you will know where you need to improve so that more visitors will make purchases.

4. Manage Your Inventory Efficiently.

Big data will help you manage your inventory better. You will be able to automatically deduct products that went through the sales process successfully, as well as to add those products that have been returned.

Big data analysis also allows you to predict demand so that you can get the right amount of supply. By determining how many of certain products are needed for certain periods, then you will not waste money on having too much, nor would you lose potential sales by turning down transactions because you are out of stock.

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WHY NOT NOW?

We have mentioned a lot of good things about big data but there is one more thing that we should say: you will still have to wait a little more before jumping into big data analytics. Lots more are needed to be done before big data can be fully understood. Smaller payers in the e-commerce industry must let the giants spend resources on utilizing big data until it comes to the time where there would be big data processing systems that can provide clear results all the time for everyone.

In a bigger sense, big data is also controlled by the company that handles the data from your ecommerce website. If you are a small to medium-sized business that’s into big data analytics, consider using an endpoint protection service for your company to protect the data from being compromised.

True enough, big data is the future of e-commerce. It is safe to believe that this future is not too far away. As e-commerce leaders try to dig deeper into big data, more can be discovered on how we can better utilize this valuable resource. Soon, the entire ecommerce industry can tap into it.

Big data is indeed the future of ecommerce.

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YOU – The Most Important Ingredient in Your Content Strategy

As I already wrote dozens of times on this blog – content marketing is a long game that cannot really be hacked or automated. Every time you’re producing something for your brand, you have to invest 110% of yourself.

If you want people to convert through your content, you cannot fool around and keep piling up generic texts and posts that don’t offer any real value to your audience.

Nope. It doesn’t really work like that.

There are no cutting corners here.

It doesn’t really matter if you’re creating just another blog post, infographic, or a video for your company – if you don’t really apply yourself, you won’t see any significant results from your content.

Even if it generates a couple of shares and likes, it will still suck, and everybody will know it.

Why? – Well, because your readers will immediately see that there’s no real passion behind your work. They will instantly recognize it as another post whose sole purpose is to fill in an empty space on your site and social media accounts.

This sort of thing could break your brand and drive all your customers away.

That’s why most online companies go out of their way to figure out how to please their readers and serve them with content that’s actually important to everyone who comes into contact with their brand online.

Story Beats Data, Every Single Time

Even though most marketers praise data and call it our lord and savior when it comes to content marketing, the truth is – data means nothing if you don’t know how to leverage it right.

When it comes to creating content that sparks user engagement, a lot of marketers are prone to trying everything and anything before they take the time to deal with their best asset here – themselves.

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It doesn’t really matter how well you understand your niche and market, and how good you’re with turning data into results, you’re the only one that can make some difference here. Everything you are, like, know, and believe in – that’s the only thing that will sell your content.

That’s your honey pot. The only thing that can truly set you apart from your competitors.

How come? – Well, because most people remember stories far better than numbers and stats. And as we all know, the best stories are the ones that come from personal feelings and experiences.

Listing down important information in your messages without a proper flow, tone, persona, or story around it isn’t really content marketing. In order to make the most out of your data, you need to wrap it around a meaningful and engaging story that truly explains the power behind your insights. That’s why I do my best to insert as much of myself as possible in my writing. 

Presentation Is Everything

Through the years, we have seen numerous examples that masterfully showcase just how important storytelling and personalization is to marketing. The way how people will process your information is solely dependent on how you lay it down in front of them.

You need to share a real, living, and breathing face with your readers and offer them a scenario in which they can actually picture themselves if you’re interested in making the most out of your efforts. And what better face to present to them than your own?

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Stories are extremely powerful – they put everything into context and helps us digest certain information on a more personal level. Naked data cannot do that. Stories dig deep into our being and trigger those emotions and memories that inspire us to take certain actions.

But not all stories. What kind of stories help people truly relate with what’s being laid down in front of them? – Those that have real, colorful and likable protagonists.

Putting Your Audience In Your Own Shoes

People best learn by example. That’s a fact. That’s why we need to keep producing all sorts of different case studies that present our targeted audience with real life success scenarios.

Case studies are content marketer’s best friend. When you build something that works, take it apart, and put it back together in front of your audiences eyes – your value and worth instantly becomes undeniable. Nothing really influences your audience to go on and try your service like a detailed record of certain practices and principles used to reach real life goals.

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However, content writers often find themselves in situations where they cannot disclose certain information or company metrics, and yet, their (my) job still demands that they keep up coming up with new material that will continue to grow their brand’s audience, stimulate engagement, and keep those conversions piling up.

Back in the day when I was still new to this content marketing game, this sort of thing often stressed me out. There was a lot of pressure on me to generate some serious results, even though I had basically nothing to work with.

But then I started thinking: What can I do to make my users recognize the value in my products and service? – Paint a picture with me, as a relatable protagonist in it, of course.

The “This Could Be You” Method

In order to go for something, people first need to see themselves in a certain story. They need to feel like your proposal is something that can surely work for them. A well-told story pulls people in and persuades them to go ahead and chase that sweet picture that you painted for them. In order to complete a certain action or pay for a specific product and service, they need to see the future, to even the tiniest of details and feel good about it. The only one who can help them do that is you.

Naturally, you cannot just write shameless suck up content, and expect from your targeted crowd to buy your story just because you’re giving them everything they want to hear. No. You need to humanize your story and show the struggle, as well.

That’s what I do, and so far – it’s been going great for me!

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Even though most of my colleagues don’t really practice this sort of thing in their content, I focus on making my texts sound in my reader’s head like we actually met for a drink, and I opened my heart to him (or her). I share a lot of personal information in my writing and I think this sort of thing really helps my crowd sink into my words.

But, before you start to blab on and on about yourself in your content, you need to know that 90% of your readers don’t really care about you, as a person. Moderation is key here. Your audience only cares about themselves and how to get the most out of a certain deal. That’s it.

Sure, this isn’t something that most of us who work hard on sharing great stories want to hear, but hey – that’s how it is. And it’s ok. It keeps us grounded. Your role here is to serve as an avatar, with real problems, interest, and flaws, to help them connect the dots and see themselves as a person who can replicate your success. Nothing more, and nothing less. That’s why it’s of crucial importance to figure out how to keep your content concise, relevant, and personal and entertaining at the same time.

A little too much of anything can drag you down here. Allow people to meet the man behind the words, but make sure that you don’t turn your company blog into your diary. Stay on track, follow your goals, but remember that people buy stories, not products.

Thank you for taking the time to read this blog post. I hope it helped you breathe some new life into your content. If you have anything to add or ask – feel free to write your thoughts in the comments sections below.

This is where we part ways.
‘Till next time – take care!
Goran @ AltusHost B.V.

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