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The role of Data Science in an E-commerce

August 12, 2020
August 12, 2020 Njla772

More and more stores are entering the world of e-commerce in order to reach more customers. In addition, sales through the Internet have shot up exponentially in recent years, so it is highly advisable to have a Data Science in your ranks to apply techniques Big Data, Data Analytics, Business Intelligence, machine learningetc. In this way we can optimize the strategy and significantly strengthen our business.

Data Scientist is the person in charge of storing, transforming and analyzing data in an e-commerce organization to make product recommendations, optimize customer service, digital and marketing advertising, optimize prices, etc.

Do you want to know more about the field of Data Science? Read on Data Science, science focused on data analysis

Data Science in Ecommerce

Cross-selling

When we think of product recommendations it is very common to think that e-commerce simply presents us with products related to each other, but this is an aspect that goes beyond. Large companies use data analysis to observe behavior among users, and they also use user demographics. In this way they are able to determine the probability that a customer who has bought a product A will end up buying a product B. 

Targeted advertising

Targeted advertising is a very innovative and effective tool when carrying out marketing campaigns. Most products are aimed at a specific audience, so advertising for that product should be directed only to that potential audience, since it is the only one really interested and with a high probability that you will end up buying it. 

Price optimization

Most customers when shopping on the Internet visualize in detail the prices of a large number of stores, looking for the portal where they are cheaper. Setting prices is a very complicated process that depends on many factors and that is why an analysis of this data is a good idea for your business. 

A lot of software from dynamic pricing allow me to set rules such as "to be £1 cheaper than the cheapest competitor", "to be a little bit cheaper than my competitor" or, "to be a little bit cheaper than my competitor as long as I get a 15% profit on all my products".

Using this kind of tools is very simple, we just have to upload our product and price catalog to the application, register the competitors and the system will provide you with a series of reports to identify your position relative to the market.

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Proyecto Cofinanciado por el Fondo Europeo de Desarrollo Regional. Beneficiario: Conecta Software Soluciones SLU. Nº expediente: EATIC2019010001. Inversión Aprobada: 173.800,00 €. Comienzo: 01/04/2019. Finalización: 30/09/2020. El presente proyecto tiene como objetivo el desarrollo de una capa de usuario multilingüe y dashboards para entornos web y windows de solución de Business Intelligence.

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