EXE CU TIVE E D G E
Six ways of value-creation
through analytics in
E-commerce
It has become imperative
for organizations to be
on the customers’ online
radar with respect to
new products or services
and to be able to
influence their choices.
BY ROHIT TANDON
AND SHRUTI UPADHYAY
8
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Increasing popularity and access to the Internet
has changed the way marketers are interacting with
customers. These customers are smart, well informed
and empowered, as Internet connectivity is available
to them at their fingertips and on the go. It has therefore become imperative for organizations to be on the
customers’ online radar with respect to new products or
services and to be able to influence their choices.
Not surprisingly, according to one study, 34 percent
of marketers are generating leads through Twitter. India’s online retail market grew at a staggering 88 percent in 2013 to $16 billion and continues to grow. These
examples are a testimony to the growth of e-commerce.
The Internet deluge has opened an assortment of opportunities. Customers are able to buy high-end fashion
and designer shoes, book hotels, buy movie tickets and
you-name-it.
Therefore, an opportunity exists for business research to capture, compile, churn and store colossal bytes of information about customers, suppliers
and operations. This is what we call the age of “big
data.” We believe that this age is a natural progression in online business and is here to stay. We are already seeing a surge in adoption of digital channels
such as social media, e-mail marketing and display
ads in e-commerce. Imagine the amount of data this
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