Big Introduction What is Big Data? *The term “big

Transcript:Big Introduction What is Big Data? *The term “big:
Big Introduction What is Big Data? *The term “big data” refers to data So large Fast Complex *Difficult or impossible to process using traditional methods *Types of Big data- Structured Unstructured Semi-structured *Big data as the three V’s: Volume Velocity Variety Big Data Analytics in E-commerce Big Data Analytics the process of- Examining Analyzing Uncovering Using Big Data Analytics, you can uncover various critical pieces of information such as Hidden data patterns from Big Data Market Trends Customer Preferences Customer Loyalty Types of big data used in E-commerce Transaction or business activity data Customer profiles maintained by the company The occurrence of customer complaints Click-stream data Web and online advertisements Social media content Video data Live images Live video Voice data Phone Calls Call Centre Amazon eBay Zappos Alibaba Netflix To predict viewing habits To evaluate the quality of experiences To use and track data related to call center activities American Express To predict customer preferences and tastes Aims of this article To identify definitional perspectives of big data analytics To distinguish the characteristics of big data within e-commerce To explore the types of big data within e-commerce To illustrate the business value of big data in e-commerce To provide guidelines for tackling the challenges of big data application within e-commerce. Research approach The study was grounded in a literature review to identify and appraise the knowledge on- Definitional aspects Attributes Types Business value of BDA In e-commerce Global Growth of e-commerce BDA Applications in E-commerce Needs identification (18%) Market segmentation (11%) Decision making and performance improvement (36%) New product/market/business model innovations (17%) Creating infrastructure and transparency (18%) Big data and their distinctive characteristics Voluminous BDA encompasses large volumes of data used by decision makers for making strategic decisions Variety The analytic model used by e-commerce firms could comprise a variety of customer information Veracity These data demand massive verification, requiring full compliance with quality and security issues Benefits of Big Data Processing Businesses can utilize outside intelligence while taking decisions Improved customer service Early identification of risk to the product/services, if any Better operational efficiency Business Value of Big Data Analytics Personalization Personalizes service or customizes products Dynamic pricing Monitors competing prices and send alerts Monitors product sales, actions of customers, and any regional or geographical preferences Customer service Customers feel valued when they call the service center Predictive analytics Prediction of consumer behavior and preferences Supply chain visibility