E-commerce has seen a big-bang effect with its growth in the last 8 years courtesy big data analytics. From personalizing customer experiences, displaying related products through cross-sell opportunities, inventory management, strategizing promotions and big discount days, to optimizing pricing for maximizing sales and profits, advanced analytics has elevated e-commerce to its true potential. However, what it means for e-commerce professionals is a need to upskill and learn analytics to empower themselves in the digital economy because while there is a lot of progress already made, a lot of potential yet needs to be channelized from e-commerce through analytics. Here are 4 case studies of analytics works of wonders to the e-commerce domain:
- Improved the seller experience for a leading e-commerce platform – The client, a global technology company, wanted to stem seller dissatisfaction and proactively protect genuine sellers from abusive buyers. Mu Sigma worked on a series of initiatives to enable the client achieve this goal which involved, to name a few, creating a framework to define a bad selling experience, formulating rules to identify and auto-suspend abusive buyers, as well as create a seller trust score to filter out genuine sellers. Read this interesting case study here.
- Operational Excellence in B2B eCommerce – LYONSCG (Parent Organization: Capgemini) worked with EXLTUBE to develop a digital strategy and a tool that enables EXLTUBE customers to clearly identify the products that fit their needs and place orders from any device. LYONSCG built a customized load builder leverages product data, available inventory, production schedules, and logistics rules to maximize efficiency, giving EXLTUBE a competitive edge in the market. Read this case study here for more details.
- Flipkart uses Analytics to Boost Sales – Flipkart leverages ‘seller insights’ to enable sellers on their platform to be able to react to consumer demand better. They help sellers understand what products are popular and have high demand which enables sellers to keep them in stock. Each seller can access these insights through a personalised dashboard that tells them what products to stock up on.
- SnapDeals’s ‘Grow my Business’ initiative – Similar to Flipkart, SnapDeal has also had a seller initiative called ‘Grow my Business’ that enables their sellers to stock the products that sell well by providing custom business advice and consumer insights to over 300,000 sellers, helping them to bring a large assortment of products that are spread over multiple verticals to their consumers. This initiative had helped Snapdeal to increase their assortment size 25% at the time.
Sources: Mu-Sigma, Lyonscg (Parent Organization: Capgemini).0