There is no doubt that e-commerce is one of the fastest-growing industries in today’s date. And if you don’t believe, have a look on Amazon, Flipkart, Myntra, Snapdeal and many such over the internet. Yes, e-commerce is one such platform that getting rapid growth in today’s date. And guess what due to numerous advantages, people are focusing greatly on e-commerce because they can get everything over the internet, just at their doorstep within 3 to 4 clicks, without wasting so much of your time in 5 days, with huge discounts. Just like you order your favorite stuff and get it delivered in the promised time along with huge discounts. But have you ever wondered how they can provide so much at a particular amount of time? Because we all know, sometimes there are at least more than 1000 purchases at a particular time.
This is only possible because of so much analytics involved in this process, along with so much experience. Yes, you heard it right. Data Analysts play a very crucial role in the success of any e-commerce because they have to deal with tons and tons of data, like the number of purchases, the transaction of finance, generation of the invoice, positive and negative feedbacks, the best experiences for the customers. One business analyst is never sufficient for the entire process, so the companies are proactively looking for business analysts in various job portals available such as, indeed, Naukri and social networking sites for professionals such as LinkedIn.
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Function Of Data Analytics In E-commerce
Supply Chain Management
Supply chain management deals with managing the data as well as the products, right from the warehouse to the customers. The e-commerce industry uses analytics extensively to manage such large inventories.
Merchant/Customer Fraud Detection
There is a lot of fraud that takes place in online marketing on e-commerce. You may even find some premium phones of mac at just 35000K. This is not possible, and these things can be detected by using analytic. So business analyst plays a very crucial role in e-commerce.
Merchant Analytics
Analysis of merchants is very important stuff in today’s date, no matter how big or reputed you are. Because e-commerce platform tie-ups with so many merchants to deliver products to the customers. For this reason, if a merchant having good feedbacks, it matters about building good relationships as well as services.
Product-specific analytics
Products-specific analytics is very important for e-commerce because this gives ideas about which are on the hot-selling in the market. So that e-commerce companies can keep everything before the products get out of the stock.
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