E-commerce seems simple [ taking order and shipping it ], but there is more. In the age of Data, our every action should be data-driven. In this blog, we will see how Data Science helps to grow e-commerce business by making better data-driven decisions. Just to keep your interest high – you can use data for Product Recommendations, Google-like searches within the Website, Price Strategy using Competitor Analysis, and more.
E-commerce Data Science Service in Nepal – 9843613265
Why Data is Important?
People say that data is the new gold. Do you know how Facebook earns money? Using data. Google? Using Data? Amazon’s maximum sales occur using data. Why are you lagging? You can also earn much more using People’s data. Data is very important to make any decision.
Use Case 1: Let’s say you have a list of customers buying similar products. You can make segments and give them relevant offers or show relevant ads to them.
Use Case 2: You can set Price Intelligence. You can do competitive analysis using web scrap and set competitive prices. Or you can give discounts and offer prices to returning customers.
Use Case 3: You can use search Intelligence and set google-like perfect search according to user searches. Your search must be better than Product Search.
Use Case 4: You can capture all the interactions a user previously had with a brand – products viewed, clicks, past purchases, etc. – and deliver personalized product recommendations.
Use Case 5: You can set ad campaigns in accordance with user interaction with the products. You can create Customer Segmentation and run Google or Facebook Ads. And many more.
Use Case 6: You can use Data Science in Inventory Management as well. When will be the demand of product higher and when it’s low?
Do you have any Data Science Work Experience?
We are one of the Leading Data Science and Data Analytics companies in Nepal. We had worked for various E-commerce companies in Nepal for Fraud Detection, Product Recommendation, Search Intelligence, Sales Forecasting, and EDA Reporting.