Technology in Retail - Data at heart of Ecommerce

Ecommerce as a channel is not necessarily always profitable. Customers can easily compare competing products/pricing and make choice in seconds.

Earlier times businesses doing data analysis post-facto was sufficient. Today they need a real-time data infrastructure and applications that enable AI and machine learning. Unlocking, analyzing & acting on data is at the heart of digital transformation.

Businesses are putting their data to work in order to acquire customer at lower CAC, improve customer experiences for high NPS, streamline operations for profitability.

Some of the data use cases that help grow profitable revenues are:

• Effective Promotions & ROI

• Better pricing based on customer behavior and real-time analysis

• Improved customer propensity analysis & targeted marketing

• Accurate demand forecasting

• Anomaly detection to protect customers and business

• Personalized search and recommendation, effective cross/up sell

• Sentiment analysis

• Voice and image-based search