Data Science & ECommerce
INDIA: World’s 6th Largest Economy will have the Youngest Population by 2020
400 Million Millennials – 1/3rd of population and 46% of Workforce
Challenge for Ecommerce: Consumer Churn | Fraud | Improve Customer Service
Since its arrival in 2001, Ecommerce has changed a lot. In initial days, one could sell anything and make good profit. Competition was least and everyone could not afford technology. Limited access to the product, left end consumer with almost no choice.
With affordable technology reaching everyone through smart devices has turned the game on its head. With so many Millennials buying online from small home essentials to large apartments to luxurious cars, competition has limited choice. Data Science for Ecommerce is essential to remain ahead of the consumers and competition, both!
Today, a larger share of consumers is purchasing online which is resulting in generation of multiple data points at various nodes be it customer data, delivery data, logistics data, inventory data among others. With data science, this data can be managed to offer customized products, deliver products in the best optimized route and better inventory management, help companies to cut costs and generate more revenues.
Here are the top 8 key E-Commerce Pulse you can know immediately after implementing Data Science tool(s) in your selling platform:
Ecommerce is all about staying ahead of the competition. An upskilled force implements latest Data Science tools and techniques that help Ecommerce businesses get actionable insights based on the “Data of Sold” to know “What to Sell Next”!