Master the possibilities of applying Big Data at every step of the buyer

How can Big data technologies affect retailers?

Advances in digital technology have completely changed the way we shop. Now it's natural, because shopping is what consumers can do anywhere, anytime and on any device. And if your product does not appear when they search for it, you have lost the sale. Getting the right information about your product has never been more necessary for you and your customers than it is today.

Retailers and brands often seek to exploit the potential for customization, capitalize on inventory or improve marketing costs and return on investment. However, without too much product data, the most incredible user experience in choosing a product will not help customers find what they are looking for. Product content is one of the most overlooked assets of the retail business!

Robert Chatwani, Director of Marketing at Atlassian

You must be able to adapt to this ever-changing world of retail. For example, the "work from the inside out" approach will be more effective. This means that instead of allowing customers to independently search for something in your inventory, you need to move your inventory where your customers are.

To implement this approach successfully, you need reliable and comprehensive data about your products. For example, customers may start by looking for "black shoes" and then add an additional description to indicate exactly what they are looking for. For example, "Black High Heel", "Black Pointed Toe", "Black Closed Bottom Shoes on a Flat Sole" and even those shown in the picture below.

If one of these keywords is missing on your product page, perhaps again, you have lost the sale.

The next important step in improving your customers' online travel is to combine your product data with your customer data (obtained through CRM, SEO, paid acquisitions, Internet behavior, loyalty programs, etc.). You need to understand how they found you, what keywords they were looking for, and then use that data to contact that customer again with the right offers at the right time. You can also analyze these keywords (and refine them) to attract more buyers. In this respect, these technologies can be useful to you.

The result of this combination of data (and a better understanding of your customers) will be the experience of "deep commerce", which will soon make classic research superfluous, because the best companies will already know what their customers want, even earlier than their customers.

A good example would be Netflix, who will soon receive a gold medal when he can automatically play a movie his client wants to watch, including a TV show.

An analysis of the progress of this journey to an exceptional customer experience will help you decide what you need to do to move forward.

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