Big data analytics is a valuable tool for e-commerce firms. The insights from these analytics can be used to create social media campaigns and identify future trends. This data can also be used to improve customer service. The results of big data analysis will enable e-commerce companies to make better decisions about their customers’ preferences. Using big information for customer service will help you make informed decisions about your marketing strategy and improve the overall customer experience.
This type of data analysis can help e-commerce firms figure out what works and what doesn’t. A company can use Big Data to analyze competitor pricing, adjust pricing accordingly, and understand customer sentiments. Using this kind of data, a business can make informed decisions about how to improve their products. Furthermore, consumers are likely to read reviews of products on social media before making a purchase. With this information, e-commerce firms can improve their products and services.
Using big data can provide actionable insights to e-commerce firms. However, it can also cause a paradox between privacy and social media. Although consumers want to protect their privacy, they will trade that for free apps, promotional offers, and social media incentives. Nunan and Di Domenico argue that privacy concerns have been outpaced by the rise of social networks. Even with the privacy issues, consumers continue to share personal information across e-commerce sites and on social media.
