“In eCommerce, your prices have to be better because the consumer has to take a leap of faith in your product.” (Ashton Kutcher)
Big data has become one of the greatest lead generations yet for certain businesses only. A number of businesses are unable to take profitable advantage of big data thereby there business is relatively restricted and has prohibited route to success. According to a research conducted, 80% of the retailers are well aware of this word but they are unable to utilized and incorporate the efficiency of big data as they lack the guides of doing so.
Queries
One such query of handling the big data is not how to collect the data but rather how to sort the collected data or how to identify which data is relevant for the business and which data should be discarded. This is the main query that we know what the data is but how to use it or apply it for the propagation and growth of business.
Big data
The research conducted recently, revealed the statically calculated percentage of big data’s evolution and it is now know that big data was evolved and introduced two years back and still now we have been learning its incorporation. However, ecommerce industries and websites have perks in this case as they are working with it. Big data can be understood as a magic wand, for all those companies willing to mould and transform themselves so as to bring prosperity to their businesses big data seems to be an ambulance for the dying pupil.
Types of big data
Big data is of two types; structured big data and unstructured big data.
Unstructured data contains more or less discontinuous and segregated information like twitter and Facebook posts etc. whereas structured data contains authenticate, exact and continous information as name, address etc.
Price
Price has always been one typical and digital option for all including the customers as well as the salesmen. Online websites and online shopping can have great advantage over the price rack as the prices can be reasonably amended depending upon the season and the ratio of purchases being made. On the other hand, online ecommerce websites also provide an easy way of price comparison which can bolster the customers in the long run.
“Yes, e-commerce is a strange situation for an old guy like me. You can buy a TV online, OK, but to buy a dress or shoes? Ugh. The customer has to go back to the store and breathe and smell and have a good time because shopping is a good time - like going to a nice restaurant.” (Max Azria)
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