In today's day and age, the role of data analytics is widespread and plays a huge role in the mechanism of shopping websites like Flipkart, Amazon and others. The Hollywood movie "The intern" captures this aspect quite well.
2. AREAS UTILIZING
ANALYTICS TO
IMPROVE
EFFICIENCY- WHAT?
• USER EXPERIENCE
• SUPPLY CHAIN MANAGEMENT
AND INVENTORY
• SALES AND BRAND PRESENCE
• DIGITAL MARKETING
• PRICING MODEL AND PROFIT
MARGINS
3. NEED FOR
ANALYTICS- WHY?
1. BUILD ENGAGING AND USER-FRIENDLY INTERFACE TO
ENHANCE CUSTOMER ENGAGEMENT AND A RESPONSIVE
CUSTOMER TECHNIQUES TO CREATE A LOYAL USER BASE
2. CURATING PRODUCTS BY MAKING ACCURATE
PREDICTIONS ON GROWING TRENDS AND DEMAND TO
MAKE TIMELY LAUNCHES, ASSEMBLE AN INCLUSIVE
INVENTORY AND IMPROVE LOGISTICS AND TRACKING OF
GOODS
3. STUDY CUSTOMER HISTORY AND BEHAVIOR PATTERN TO
PROVIDE EXCLUSIVE DEALS AND OTHER ATTRACTIVE
INCENTIVES (like coupon offers for restaurants or
recharge packages)
4. CONDUCT QUIZZES WITH GAME LAYOUTS WITH MINOR
REWARDS TO PROMOTE BRAND AND GAIN LARGE USER
BASE
5. KNOW THE ABILITY AND WILLINGESS TO PAY OF
CUSTOMERS BY TRACKING NAVIGATION THROUGH
