Big data, analysis of large volumes of data that cannot be treated in a conventional way, is having a significant impact on eCommerce
The innovation trend in Bigdata focused on electronic commerce is revolutionizing the business world. Big data, massive data or data intelligence, is a concept that refers to the network storage of volumes of data. And they are of such a magnitude that traditional computer applications are unable to process all the information in a reasonable time. This volume of data grows exponentially day after day, and constitutes an advanced tool when it comes to increasing the competitiveness of a company .
Big data analysis enables the possibility of knowing the demands of the market and responding to them almost in real time, with an agile retail model . The goal would be to respond faster to customer needs . In this way, the company in a few days can generate the products of its branch that meet the requirements of its clients or potential clients. Profit risks are reduced, because everything is based on what people say they want.
Big data: a 10-day cycle
Innovations in this field, focused on e-commerce, have changed the production and distribution cycles of the companies that use them. The most innovative, manage in approximately 10 days to complete the cycle of production and distribution of what their customers request. A good example of these companies is Lesara, a German macro-company that settled in Spain with the new agile retail model . Lesara’s model, which caters to direct-to-consumer retail, is based on Big Data analysis focused on e-commerce. This operation was unthinkable in the traditional system.
General objectives Bigdata
From Bigdata focused on electronic commerce, a company achieves:
- Detect a trend that shows the needs and tastes of consumers.
- Develop new products according to the information received.
- Produce in their own factories, if they have them, or transfer this production to third parties.
- Sell online in the world.
- Send the product to the buyer, the final consumer.
- Receive feedback to improve the product, if necessary.
By eliminating intermediaries, these companies that work with this type of model are able to attend to trends and bring their products to their customers immediately.
What benefits does it provide to the customer?
You can access in a short time innovative products, always renewed, that respond to the changing interests characteristic of this century. Through the information they receive from the Bigdata analysis, businesses have surely anticipated the moment of purchase and will already have their product or service available . You do not need to go to a special physical space, or queue to buy.
From the comfort of your home, at any time of the day you can make the purchases you want. In the case of digital products (books, software, music, movies), which are very short-lived in the market and, therefore, always renewed, the purchase and reception are instantaneous. In the case of material objects, the delivery will be received in a few days .
What benefits does a company find?
Reduce costs . Maintaining a virtual store is much cheaper than maintaining a traditional store. Companies grow with fewer resources , avoid paying local rent, services, various salaries. They also save resources in advertising, since the advertisement on the Internet is much cheaper than the guidelines in the traditional media and a greater reach of clients.
The ecommerce intervened by the information of the Bigdata, allows access to any diner, regardless of the geographical place of residence. Undoubtedly, the possibilities for expansion offered by the Internet far exceed those of traditional commerce. Elimination of intermediaries. The treatment is direct company-client , which allows to know first-hand the feedback regarding the product or the purchase process, and restructure it according to that information.
The production cycle is shortened . The need in the market is detected and the product or service that satisfies it is immediately generated. The risks of failure of the product or service in the market are reduced, since the starting point was the information obtained from the Bigdata, expression of the tastes and needs of the clients.
If the product arose from the manifestations of the wishes of the target audience, it will surely be well received in the market. The Digital Transformation that is revolutionizing the world is here to stay. Companies that wish to survive must be included in it and take advantage of the benefits that technology offers. This is your great challenge.
