You open your laptop or mobile phone and search for that company with a great sale going on so you can make a purchase over a great deal. As you click around, or perhaps even search for other retailers and sales, online retailers are leveraging your every click. Big data has drastically changed retail, e-commerce, and innovation within both industries. Techniques and strategies to boost sales are implemented all of the time without users even realizing it. Have you ever searched for a product in Google, exited out of that tab and then later on opened Facebook showing an ad for the exact item you recently searched for? That’s big data.
In recent months,, Amazon’s earnings were made public — making Jeff Bezos the richest man in the world. Although we can’t bestow all of the success here to big data, with Bezos understanding of the power and potential of this new-age technology, Amazon was able to quickly change the game of their sector.
Much like Amazon, online purchases weight much more on data collection and user experience than you think. Today, millions of people around the globe make purchases online every day. Translating the things we do on the internet into information is how companies like Google, Facebook, and major retailers are able to determine what their users want and what the best way to provide that is.
User experience is huge in terms of big data. This is how companies and ads can provide product recommendations that are personalized to each user. By tracking user shopping patterns, developers are able to determine recommendations. Moreover, they’re tracking browsing history, clicks, and more.
In the same sense of providing you with current recommendations, big data allows businesses across various sectors to predict future patterns and trends. Companies are then able to come up with innovative strategies to increase sales, reach their target audience, and provide better customer satisfaction.
The clever strategies that emerge behind big data are what account for price optimization, pattern detection, and even enhanced customer experiences. As third parties track your browsing history, clicks and shopping history, big data is then capable of recognizing each user as individuals. From there, big data creates a personalized experience.
Clickstream data and online behavior monitoring is the new way businesses are able to get ahead of the game and know how they can continue to give their customers and target audience what they want.
So next time you’re adding items to your online cart and making purchases, remember how you’re helping companies gain useful information in the world of big data.