In our previous article, we learned about why big data is integrated into the eCommerce business. In this article, we will learn about the benefits, reasons, and challenges of integrating big data in an eCommerce business. To start with, let us first learn about the benefits of integrating big data into the eCommerce business.
The Benefits of Integrating Big Data into the eCommerce Business
- You can collect, save, and manage data from many channels and information sources, such as central company CRM, supplier lists, inventory management systems, etc.
- Fewer errors and faster access to the information within your company and when sharing it with third parties (distributors, retailers, marketplaces).
- Always based on data, not speculation, through data mining and predictive analysis.
- More satisfied with correct information and orders in order.
- Prediction of buying patterns.
- Use of specific software that brings together many tasks and data sources and simplifies information management processes.
- Personalization of the consultation and purchase experience.
- Analysis of data from the competition and adjustment of the price offer.
- More clarity in stock data, dates of orders to suppliers, multi-channel coordination, and data of shipments to customers.
The Challenges of Integrating Big Data into the eCommerce Business
- Big Data brings with it great complexity in several areas (and which will get worse if you don’t take Big Data organization actions).
- Handle a huge volume of data. We are talking about thousands of SKUs, product data, customer databases that are expanding, and regulations that must be complied with. Given so much information generated every day, it is essential to know what you must have under control and what is generating noise.
- Quickly access information to speed decisions, from sales to customer service.
- Need for access to adequate data to measure the ROI of marketing actions.
- Coordinate and organize information from many scattered sources, and of a very different nature. Product information will not need to be processed and analyzed in the same way as visitor behavior data on a web page.
- Apply Big Data for precise, not general, customizations that are unique to each user.
- To get the right answers, it is necessary to ask the right questions first. What exactly do you need to know through Big Data? What should you reinforce in the day-to-day of your company?
- Having the right software tools that are easy to use on any team and don’t require complex training or time-consuming installation, like Sales Layer’s PIM software.