How Data Science is Revolutionising e-commerce(Rank Princess-SEO)

In the digital world that we live in, there is more data than ever.  That means more information about everything that surrounds us. Now, this information can be used to do some pretty amazing things, and the present e-commerce Industry is a shining example of that.

About Data Science

Data Science refers to the interdisciplinary study of the scientific methods and processes used to manage the source of data, understand its representation and convert it into useful information.

Every organization generates a lot of data from the consumers through the services that they use. Data scientists can help those organisations use that data to serve those consumers even better.

e-commerce Supercharged

In the business world, it is a self-evident fact that for any business to serve its customers well, it has to know those customers and their preferences and then craft their business plan accordingly.

Traditionally, this was done by the store operators and other executives who directly interacted with the customers. They had a pulse of the market and the direction in which the wind was blowing. But this method was inefficient and barely useful in the long run, and not to mention unusable in the e-commerce industry. This is where Data Science comes in.

  1. Knowing Customers

The biggest aid Data and Data Scientists provide to e-commerce businesses is in knowing the customers. Companies gain this knowledge through the online behaviour of the consumers: their interests, the product they often view, their possible needs, etc.

This helps the companies to know the consumers as well as they see themselves and simplifies the purchasing process.

  1. Selling Better

Data scientists have revealed that consumers’ buying pattern and brand loyalty is ever-changing and not as predictable as previously thought. This has made gaining consumer insight even more crucial for any e-commerce business.

Data sciences have provided the answers to various questions that have enabled the companies to sell better, such as:

  • What demographic of people are buying your products?
  • Which products interest your consumers?
  • How can you contribute to the shopping experience of your consumers?
  • What encourages the consumers to buy the products that they do?
  1. Marketing Done Right

Data Sciences has revolutionized marketing as a whole. With information collected from users about their spending habits, browsing and shopping patterns, more personalized marketing campaigns can be implemented.

These things have helped the businesses with advertisement retargeting, channel mix optimization and have increased the overall attentive time spend by the consumers on the company’s adverts.

This means more specific commercials for the end users and more effective marketing campaigns for the businesses.

On the Flip Side

Whenever the topic of collecting information from the public comes up, questions of security and privacy emerge. This is only natural as cyber security is a pivotal part of the digital lives that we lead.

Companies ensure users’ privacy through ever-updating encrypting technologies and firewalls. And to further enforce security, it is made sure that the sensitive data of users are stored locally on their devices and not on the cloud.

To say that the world of e-commerce has changed forever by Data Sciences would not be an understatement. And with more data scientist working together to further enhance our shopping experience, the future is only looking brighter.

LSI Keywords

Data science in e-commerce

Applications of data science

Online retail and data science

Data science and marketing

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How Data Science is Revolutionising e-commerce(Rank Princess-SEO)

In the digital world that we live in, there is more data than ever.  That means more information about everything that surrounds us. Now, this information can be used to do some pretty amazing things, and the present e-commerce Industry is a shining example of that.

About Data Science

Data Science refers to the interdisciplinary study of the scientific methods and processes used to manage the source of data, understand its representation and convert it into useful information.

Every organization generates a lot of data from the consumers through the services that they use. Data scientists can help those organisations use that data to serve those consumers even better.

e-commerce Supercharged

In the business world, it is a self-evident fact that for any business to serve its customers well, it has to know those customers and their preferences and then craft their business plan accordingly.

Traditionally, this was done by the store operators and other executives who directly interacted with the customers. They had a pulse of the market and the direction in which the wind was blowing. But this method was inefficient and barely useful in the long run, and not to mention unusable in the e-commerce industry. This is where Data Science comes in.

  1. Knowing Customers

The biggest aid Data and Data Scientists provide to e-commerce businesses is in knowing the customers. Companies gain this knowledge through the online behaviour of the consumers: their interests, the product they often view, their possible needs, etc.

This helps the companies to know the consumers as well as they see themselves and simplifies the purchasing process.

  1. Selling Better

Data scientists have revealed that consumers’ buying pattern and brand loyalty is ever-changing and not as predictable as previously thought. This has made gaining consumer insight even more crucial for any e-commerce business.

Data sciences have provided the answers to various questions that have enabled the companies to sell better, such as:

  • What demographic of people are buying your products?
  • Which products interest your consumers?
  • How can you contribute to the shopping experience of your consumers?
  • What encourages the consumers to buy the products that they do?
  1. Marketing Done Right

Data Sciences has revolutionized marketing as a whole. With information collected from users about their spending habits, browsing and shopping patterns, more personalized marketing campaigns can be implemented.

These things have helped the businesses with advertisement retargeting, channel mix optimization and have increased the overall attentive time spend by the consumers on the company’s adverts.

This means more specific commercials for the end users and more effective marketing campaigns for the businesses.

On the Flip Side

Whenever the topic of collecting information from the public comes up, questions of security and privacy emerge. This is only natural as cyber security is a pivotal part of the digital lives that we lead.

Companies ensure users’ privacy through ever-updating encrypting technologies and firewalls. And to further enforce security, it is made sure that the sensitive data of users are stored locally on their devices and not on the cloud.

To say that the world of e-commerce has changed forever by Data Sciences would not be an understatement. And with more data scientist working together to further enhance our shopping experience, the future is only looking brighter.

LSI Keywords

Data science in e-commerce

Applications of data science

Online retail and data science

Data science and marketing

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How Data Science is Revolutionising e-commerce(Rank Princess-SEO)

How Data Science is Revolutionising e-commerce(Rank Princess-SEO)

In the digital world that we live in, there is more data than ever.  That means more information about everything that surrounds us. Now, this information can be used to do some pretty amazing things, and the present e-commerce Industry is a shining example of that.

About Data Science

Data Science refers to the interdisciplinary study of the scientific methods and processes used to manage the source of data, understand its representation and convert it into useful information.

Every organization generates a lot of data from the consumers through the services that they use. Data scientists can help those organisations use that data to serve those consumers even better.

e-commerce Supercharged

In the business world, it is a self-evident fact that for any business to serve its customers well, it has to know those customers and their preferences and then craft their business plan accordingly.

Traditionally, this was done by the store operators and other executives who directly interacted with the customers. They had a pulse of the market and the direction in which the wind was blowing. But this method was inefficient and barely useful in the long run, and not to mention unusable in the e-commerce industry. This is where Data Science comes in.

  1. Knowing Customers

The biggest aid Data and Data Scientists provide to e-commerce businesses is in knowing the customers. Companies gain this knowledge through the online behaviour of the consumers: their interests, the product they often view, their possible needs, etc.

This helps the companies to know the consumers as well as they see themselves and simplifies the purchasing process.

  1. Selling Better

Data scientists have revealed that consumers’ buying pattern and brand loyalty is ever-changing and not as predictable as previously thought. This has made gaining consumer insight even more crucial for any e-commerce business.

Data sciences have provided the answers to various questions that have enabled the companies to sell better, such as:

  • What demographic of people are buying your products?
  • Which products interest your consumers?
  • How can you contribute to the shopping experience of your consumers?
  • What encourages the consumers to buy the products that they do?
  1. Marketing Done Right

Data Sciences has revolutionized marketing as a whole. With information collected from users about their spending habits, browsing and shopping patterns, more personalized marketing campaigns can be implemented.

These things have helped the businesses with advertisement retargeting, channel mix optimization and have increased the overall attentive time spend by the consumers on the company’s adverts.

This means more specific commercials for the end users and more effective marketing campaigns for the businesses.

On the Flip Side

Whenever the topic of collecting information from the public comes up, questions of security and privacy emerge. This is only natural as cyber security is a pivotal part of the digital lives that we lead.

Companies ensure users’ privacy through ever-updating encrypting technologies and firewalls. And to further enforce security, it is made sure that the sensitive data of users are stored locally on their devices and not on the cloud.

To say that the world of e-commerce has changed forever by Data Sciences would not be an understatement. And with more data scientist working together to further enhance our shopping experience, the future is only looking brighter.

LSI Keywords

Data science in e-commerce

Applications of data science

Online retail and data science

Data science and marketing

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How Is Data Science Revolutionising e-commerce? (Rank Princess- SEO)

Geoffrey Moore once compared companies without data analytics with deaf and blind deer on a freeway. And Moore was quite right too!

 Any online transaction between a shopper and a seller is a negotiation. And in every consultation, knowledge conjures power. Right kind of information about the other party gives you leverage. And leverage lets you squeeze a better deal where you reap the benefits.

 As a shopper, the sites you visit, the products you browse, the models you put in your cart only to dismiss the window and buy the same item from some other website- that data is significant for a seller. How? Let’s see!

 Business Analytics in e-commerce- Can You Optimise Conversion?

 To guarantee a sale, the seller must:

  • identify the influenceable section of the target shoppers

 

  • figure out what’s important to them, and

 

  • present them with an apt product-deal combination

 

It’s tough! Buyer’s intent is hard to spot. It’s where data science, analytics, & e-commerce    based machine learning come into play.

 Data Science in E-Commerce- How Is the Revolutionising Happening?

 Insights

Sellers use technology to track customer behaviour without disturbing said customer. If a shopper logs into a store Wi-Fi, the software monitors the sections where they linger longer. Marketing teams look at social media and browsing patterns to gather information on trending items.

  1. Prediction

Algorithms study the existing data like product attributes, shopper behaviour, and correlations. They try to infer future trends. They make assumptions based on the data they’re fed about the shopper.

  1. Strategy

Algorithms work to predict what the company should sell when and at what price. The product design, supply-demand forecasting, window of sale, promotional schemes, and personalised shopper targeting are strategized using the learnings of the machine.

  1. Personalisation

As per a 2014 Infosys report, 78% of consumers respond to targeted ads that focus on their specific interests with a successful purchase.

Sellers use the data and patterns to revisit their retargeting plan, reach to a client of a particular age, interest, gender, and demographic and offer a deal that suits their present concerns.

Why Is Predictive Analysis in e-commerce Needed?

Shoppers often have the advantage of information over sellers. They know the product details and the shopper credentials. They have market reviews and ratings to turn to. They have options from different sellers for one product.

The seller has no way to know what drives the shopper- price, availability, or delivery window. It has to rely on guessing, and that doesn’t work out well in all cases.

Predictive analysis & e-commerce analytics allow the seller to gather fact-based ideas extracted from previous consumer behaviour using machine logic and data science. It helps them optimise conversion, and offer a better customer experience.

Basic Advantages

  • Cross-sell- I see you bought an iPhone 7 recently. Can I interest you in an iPhone case?
  • Up sell- I see you browsing a Full HD LED TV. Here, this 4K is the next version and fits your expected price range too.
  • Personalisation- I have your location. Would you like to see where our nearest store is? Or if we express deliver to your place?
  • Opportunity- I see you are in this country right now that has this upcoming festival that’s apparently a huge thing. Can I interest you in this relevant product that you may need during the said festival?

And That’s Just the Front End

Data science can help e-commerce websites by allowing consumer retention via heightened levels of perception and recognition. But, it can also be used for web analytics, fraud detection, payment, delivery, and other post-purchase aspects that build customer experience.

LSI: business analytics in e-commerce, ecommerce analytics data science, Data Science in ecommerce, predictive analytics in ecommerce

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How Data Science is Revolutionizing e-commerce(Rank Princess- SEO)

Data science as the name suggests is data driven by science. It is a method to extract relevant data or insight from the data in various forms which can either be structured or unstructured. It is kind of similar to data mining.

If we talk about business terms, it helps businesses provide a richer understanding of the clienteles’ by capturing and integrating the information of the prospect’s online behaviour. At this period, e-commerce is the essence of almost every business. The world at this time is immersed in data from many sources. Data science and ‘data scientists’ have revolutionized modern business. With the boom of e-commerce, the aspect of Analysis (“A” from the DMAIC theory) has broadened by leaps and bounds. Before, we talking about the benefits, let’s talk about how it is used in e-commerce.

In the field of e-commerce, customer and sales data are integrated into a database which is further linked with the email marketing and ad platform data. A thorough analysis of these gives a data scientist a 3D view of (i) Customer lifetime value, (ii) Personality analysis, (iii) Churn detection, (iv) Customer segmentation, (v) Cohort analysis, and (vi) Trend analysis. This helps the business to work and forecast new and beneficial acquisition and retention strategies. This is exactly the evolution it has brought to the modern business.

Let me explain it this way – assume you’re on a shopping app/website browsing. You scroll downwards and see that the app/website has recommendations based on your browsing/shopping history. Did you ever ponder as to how the app/website know your preferences and suggests products that you might end up buying? That, my friend, is data science. This method can be classified under Acquisition strategy. You might initially have logged in to the website just to browse, but recommendations have a probable chance of triggering a sale. Another example of it is boosting cross-selling (selling a different product to an existing consumer). Once you select a product, most websites/apps recommend a bundle option of similar or related products. Statistics say that cross-selling is a major part of today’s e-commerce business. As a matter of fact, websites/apps these days also recommend items based on perceived customer journeys. This is also a part of the acquisition. The technique just tells you what other customers have loved so far and thus intrigues a prospect increasing the chances of a successful sale. Retention strategy is when businesses use offers, promo codes, discounts, etc. to a prospect and flash sales to retain market. Big brands use data science and scientists to monitor stock and manage promotions accordingly.

Apart from the above, data science can help a new online business to determine strength and impact of the online vs. physical brand. It can help provide detailed analysis to a retailer on physical shops vs. online sales. Also, the inclusion of data science in online business will help sellers offer personalised deals per customer based on individual browsing habits and patterns. It helps a company to anticipate customer behaviour and understand connections of customer’s product reviews and shopping behaviour with other customers further leading to successful Prediction model (surfing behaviour vs. % deal-making).

Thus, data science helps to gain sales/conversion providing optimized information about customers. Numbers speak, isn’t it?

Keywords:

Data science

Data mining

Online sales

e-commerce

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Stripe Hits A Strike With Third Acquisition- Indie Hackers (Content Princess – SEO)

US technology company Stripe has announced that it has made its third acquisition in March 2017 with Indie Hackers, a knowledge sharing community for independent start-ups.

 

Reason for the acquisition

 

In an attempt to build and grow relationships with the ever-expanding independent start-up scene, US digital payments company Stripe has recently acquired Indie Hackers for an undisclosed sum.

Patrick Collison, co-founder of Stripe said about the acquisition in March 2017: “Our goal in the acquisition of Indie Hackers is to ensure that the site becomes as successful as possible.”

With Stripe’s revenue upwards of $111 million and the current valuation of around $9 billion, the acquisition seems to be a move towards increasing its customer base.

 

About Indie Hackers and its Founders

 

You may not have heard of them, and that’s because Indie Hackers was founded less thana year ago, in July 2016.

Courtland Allen, the founder, set out to create a space where both entrepreneurs and successful business owners could come together in a community for advice and inspiration.

 

Allen is quoted as saying, on the company’s website, that “he is impressed by Stripe’s aspiring mission of making it simpler for entrepreneurs to establish and grow their businesses.”

With business increasing and recently bringing in a reported $6,000 per month, Allen found his attention was being diverted away from producing content and increasingly towards filling ad inventory.

Why Buy A Knowledge Sharing Community Company?

So, what was the interest for a digital payment company in acquiring a company like Indie Hackers? Stripe, based in San Francisco, already has a significant percentage of new companies choosing their product. Their aim in the acquisition of Indie Hackers, they say, is not to increase that fraction but to increase the overall number of sales.

Stripe hopes that their new acquisition will “strengthen the relationship with the start-up community and further increase the GDP of the internet.”

Stripe’s Fortunes

Stripe has received more than $355 million in funding, with names such as Elon Musk and Sequoia Capital contributing to that fund. The company provides payment processing services for mobile and online payments. It supports credit card payments in more than 135 countries.

In March 2013, Stripe acquired Kickoff. RunKit was purchased in September 2016. Both were bought for a similar reason to Indie Hackers – to benefit Stripe’s customers

The online payments firm understands that if it supports and nurtures smaller, knowledge- sharing communities, it will have a knock-on effect. It will ultimately filter through to Stripe’s potential customers.

What’s In It For Everyone?

Courtland Allen now goes by the official title of ‘Indie Hacker at Stripe’.

Now that Stripe has relieved him of a financial burden, Allen can continue with his first intentions for the entrepreneurial community. Soon, the team plans on developing the Indie Hacker community and working on more original content for the website.

Stripe has an aim to make it easy for entrepreneurs to develop and nurture their businesses. And this is where Indie Hackers will turn up. In turn, Stripe will also benefit as more customers will sign up for their product.

No doubt, this acquisition has created a win-win situation for both companies.

Keywords/LSI

technology company, online payments company, digital payment company, internet payments, payment processing service, online payment service, online payments firm, credit card payments, online payment firm

References

https://www.indiehackers.com/blog/acquired-by-stripe

https://www.owler.com/iaApp/100441/stripe-company-profile

https://www.wsj.com/articles/stripes-valuation-nearly-doubles-to-9-2-billion-1480075201

http://www.cbronline.com/news/verticals/fintech/stripe-buys-indie-hackers-push-entrepreneurs/

https://venturebeat.com/2017/04/11/stripe-acquires-indie-hacker-in-bid-to-strengthen-relationship-with-entrepreneurs/

 

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Droom Is Vrooming Ahead With Plans For $60 Million Investment In 2017 (Content Princess – SEO)

India’s largest online automobile marketplace is driving forward with visions to globally expand the car buying and selling sector with a huge investment planned in 2017.

Massive Investment ForDroom

Indian company Droom is accelerating forward at an impressive speed as CEO Sandeep Aggarwal announced to PTI plans of a $60 million investment for 2017.

He stated the funds raised would be to fuel international expansion and assist the development of new products

Aggarwal is keen to point out that these funds are not to plug losses in the company. Instead, this money will let Droom “dominate the market in future with new products and enhanced market share”.

Droom’s Current Presence In The Automobile Market

Starting back in April 2014, in less than two years, Droom became India’s largest hyper-local automobile marketplace. Having a presence in 500 cities across the country, it is currently the fifth largest e-commerce company in India with a workforce of just over 200 employees.

Global Expansion

Speaking to PTI, CEO Sandeep Aggarwal declared his desire to raise $60 million this year. This investment is meant to expand the car buying and selling platform out of India. Droom’s visions for 2017 are to set up operations first in Indonesia followed further by South East Asian countries shortly afterwards.

Where Will The Investment Come From?

Last year Droomraised Rs. 200 Cr from a mixture of Chinese and Japanese investors such as Beenext and Digital Garage. That was the fourth round of fundraising done by Droom. The current round will, therefore, be the fifth and their largest till date.

Aggarwal has made recent trips to Hong Kong and China. He is quoted as saying “there has been significant interest from China” and the company also did an “investor day in Hong Kong”.

It has not yet been confirmed where the money is coming from or who the investors might be. But with an estimated revenue of $52.7 million, it is clear that Droom is firmly in the driving seat racing forward, which will surely attract some lucrative investors both new and old.

How will this investment impact the revenue?

The massive investment will fuel Droom’s rapid expansion further East in Asia. These foreign enterprises hopeDroom to bring 15-20% of their revenue by March 2019.Eventually, the percentage will go up to 30-40%.

Given the amazingly large potential customer base in India, Aggarwal states: “the local Indian market will continue to have the greater share of our revenues in the coming years”.

Along with operating in Indonesia, Droom is also considering a secondary base in the country.

Where Next For This Rapidly Growing Company?

Currently, the company is accelerating at a rate of 350% year on year. Compare this to India’s e-commerce growth of 20% year on year.

The goal is to achieve $1.2 billion in GMV (Gross Merchandise Value) by the end of March 2018. GMV currently stands at $400 million.

2017 is set to be an exciting year for Droom’s online selling portal. The road ahead certainly looks clear for Droom, and With Sandeep Aggarwal at the wheel, they seem to be continuing this race in pole position

Keywords/LSI

online automobile marketplace, car buying and selling, hyper-local automobile marketplace, automobile market, car buying and selling platform, online selling porta

References

http://news.webindia123.com/news/articles/Business/20170323/3078955.html

http://droom.in/about

http://www.thehindubusinessline.com/companies/droom-to-raise-60-mn-for-global-expansion-product-development/article9642117.ece?utm_campaign=RSS_Syndication&utm_medium=RSS&utm_source=RSS_Feed

http://economictimes.indiatimes.com/small-biz/startups/droom-raises-rs-200-crore-from-a-consortium-of-japanese-and-chinese-investors/articleshow/52543785.cms

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Femme Glorieuse Necklace (Rank Princess)

The literal translation of ‘femme glorieuse’ in French is ‘glorious woman’. A light and delicate necklace made of pearls to add a classy touch to any feminine look. The elegance is elevated by the beautiful starfish pendants made of sterling silver and plated with rose gold.

Gemstone                 

Cultured freshwater pearls

Colour

White

Gemstone size

4 to 4.88 mm

Necklace length

16 inches

Weight

7.86 gm

 

Complimentary Shipping within India

Standard delivery time of 3 working days.

For international shipping, please email us at [email protected] with your city/country for best shipping charges and delivery time.

For further enquiries, please email us [email protected].

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Ammara (Rank Princess)

‘Ammara’ means ‘becomes beautiful’ and beautiful you will be when you adorn this elegantly crafted single line string of high lustre rice pearls that comes with three modern rose-gold starfish pendants that go with any outfit and at any party. All the parts of the necklace including the clasp are made of sterling silver.

Gemstone

Cultured Freshwater Pearl

Colour

White

Gemstone Size

4 to 4.8 mm

Necklace Length

16 inches

Clasp

Sterling Silver, Rose Gold-Plated

Weight

7.86 gms

You will get One freshwater pearl necklace with three ‘starfish’ pendants with sterling silver clasp.

Complimentary shipping within India, Standard delivery time: 3 Working days.

For international shipping, please email us at [email protected] with your city/country for best shipping charges & delivery time.

For other enquiries, please email us at [email protected]

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Baroque Beach Beads (Rank Princess)

A trail of lustrous rice-shaped pearls, strung along with three rose gold-plated, and sterling silver starfish pendants and clasp, live up to the rarity of freshwater pearls.

This intricate stream of elegant white drops will add to the simple and elegant charm of your persona. It can indiscriminately be teamed up in any formal events or cocktail parties.

Gemstone

Cultured Freshwater Pearls

Color

White

Gemstone Size

4 to 4.8mm

Necklace Length

16 inches

Weight

7.86 gms

 

 

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