One of the success secrets of Amazon is its use of Artificial Intelligence in its various processes, customer experience, etc. Amazon recommends products to its customers using Machine Learning. Amazon’s Alexa uses Natural Language Processing (NLP) techniques to understand human instructions. Similarly, your ecommerce store too can benefit from such advanced methodologies to improve Customer Engagement, Service Quality, Support Quality and ultimately Sales.
Check How we leveraged Data Science & AI to build algorithms that perform sentiment analysis on online product reviews and help us understand the consumer sentiments on electronic products available on Amazon.
Ecommerce & AI- A Natural Fit
An ecommerce store has the potential to generate vast amounts of data with every interaction user interaction. At any given moment, a user on an ecommerce store performs any number of actions such as-
- Searching for a specific type of a product by name or description
- Clicking on & or viewing a specific product from a list
- Reading customer reviews and posting reviews
- Raising questions about products
- Going through a checkout process
Harnessing this information can give you a treasure trove of insights that can power your products as well as processes. Analyzing this data using techniques such as Machine Learning, Deep Learning, and AI helps derive Data-driven Intelligence that would otherwise be lost or safely hidden in a data cold storage.
How Can AI Help Your Ecommerce Store?
Intelligence-driven decision making is not new in businesses. Data Intelligence accelerates that process and provides business owners with newer and easier to use tools. Here are a few areas Data Intelligence in Ecommerce can help you with –
- 360-degree customer view
- Personalized Services
- Product Recommendation
- Predict Customer Churn
- Conversational Bots
- Customer Satisfaction
- Optimize in-store product mix
- Price Optimization & Dynamic Pricing
- Demand Forecasting
- Predictive Maintenance
- Creating Buyer Personas
- Hyper-Targeted Advertising
- Understanding customer sentiments
- Sales Forecasting
- Customer Engagement
How Can Qualetics Help you power your Ecommerce with AI?
Our on-demand Data Intelligence as a Service (DiaaS) Platform can help ecommerce retailers realize the benefits of analyzing data they own through their stores. Qualetics incorporates and implements the latest technologies in the Data and AI landscape with the help of a world-class team, to derive and serve Data Intelligence for eCommerce store owners. With rich and easy to understand visualizations for your stakeholders, Qualetics provides a never before seen approach to accelerate the delivery of Business Intelligence to the business owners. Our advanced APIs also allow for easy integration of insights and data-based outcomes into your Products & Systems.
In order to implement a seamless solution to analyze the data captured by your ecommerce store, the following are key components that Qualetics offers –
Secure and stable Data Management
Qualetics has developed its proprietary data ingestion API that can transmit extremely high volumes of data. Our clients are provided with secure credentials and some specific configuration that allows data from the ecommerce stores to be transmitted to the servers.
Data Virtualization to store, clean and transform vast amounts of data
Data ingested through our API is stored in high volume storage after going through several stages of transformation that involves data validation and deduplication. This will provide an in-depth understanding of the intrinsic value of the captured data and transforming it information.
Data Analysis to identify features, build and train models
With the data securely stored in the storage layer, models that are designed and developed, specific to the incoming data structures are applied automatically to analyze the data in real-time and render the results to our output layer. Certain use cases require continuous analysis of historic data as well, which is conducted in the same system.
Data Delivery & Visualization platform
Results generated through the analysis layer are available through our dedicated customer portal which contains several features for viewing results such as filtering, sharing, subscribing to changes in data and also exporting the analyzed results into different formats, thus providing an opportunity to see hidden patterns.
In addition to a visualization platform, the portal also provides an API for developers who wish to integrate the visualizations or raw results natively into their applications. Doing so allows the developer to control the entire user experience of its users to the application features and advanced analytical results natively within a single client application.