The benefits of Big Data for E-Commerce businesses

In this era, those who have more “data” about customers have an advantage. Therefore, Big Data about customers is being used in many businesses, especially e-commerce businesses, which are growing rapidly due to the current trend of online shopping that is unstoppable.

Now, let’s see how using Big Data in E-commerce can be beneficial.

The benefits of Big Data for E-Commerce businesses

1. Predicting consumer demand.

By collecting and analyzing Big Data in a retrospective manner, businesses can understand what customers are likely to be interested in and what types of products they want. This information can help businesses to better manage their inventory and plan their distribution, which can help to reduce the risk of stockouts. Businesses can also use this information to improve the speed of delivery to customers.

2. Understanding who the customers are, where they are, and how much demand they have for products.

After analyzing the data, you will be able to see who the customers are, where they are, what types of products they are interested in in each group. Then, divide the customers according to their interests to present advertisements that are in line with the needs of the customers in that group. Then, plan the distribution and delivery of products efficiently.

3. For product and service development

E-commerce businesses greatly rely on using historical data or statistics to enhance and create new products and services. This involves anticipating the future needs of customers and reinforcing a positive shopping experience.

4. Big Data helps businesses set prices appropriately

Analyzing Big Data provides businesses with real-time data on customer spending, which helps businesses track changes in demand. By analyzing the selling price of products in each period or the purchase behavior of customers in each period, businesses can conclude what the appropriate price should be set in each period and the price that will generate the most profit for the company.

5. Personalized customer experience

Big Data helps businesses communicate and create offers that are tailored to each individual customer. This is done by collecting data on customer behavior on the website and then analyzing it to find patterns. This information can then be used to determine which customers are most engaged with the website and what discounts they should receive. For example, some customers might receive a 20-50% discount on shipping, while others might receive a 50 baht discount on the product itself. This helps businesses to see what types of promotions are most effective at converting one-time buyers into repeat customers and building customer loyalty.

In the business world, the data trend is coming and is believed to stay for a long time because it is a real tool. In organizations that have these databases, they can analyze data and use it effectively. There is also the possibility of upgrading data usage to be more efficient in the future, such as using it in conjunction with IoT (Internet of Things), which is still something that many companies are experimenting with and investing in widely.

Data is not out of reach. Your business can have data too! Collecting customer data is not difficult. It can be done through our entire QR Code system. Don’t worry if you don’t have basic knowledge or don’t know how to start. We can help you.

Collecting data and running promotions through QR Codes is something that any business can start immediately. You don’t have to wait. The system is not as complicated or expensive as you might think.

If you are interested in Birth Note’s QR Code to boost profits significantly for your business, feel free to call for a discussion or inquire for more information at 099-564-5947, 096-142-9547or email us at [email protected].