Tips For Using Big Data To Build An eCommerce Store

Online shopping was already growing incredibly quickly before the global pandemic hit. But since it did, eCommerce has become even more popular. It’s a field you can get into from home and start small, making it an excellent new business idea for entrepreneurs wanting to start out in the self-employed arena. 

The drawback, though, is that you now also have more competition than ever when selling online. There are not only dozens of huge players in the market to contend with, but thousands of smaller operators, too. This means that to achieve your goals, you need to be strategic, find ways for your venture to stand out from the crowd, and continually concentrate on growth and refinement.

One way to do this is via the use of big data. This term describes the vast array of information compiled and used by both individuals and organizations every day. All the details flowing around digitally can be tracked, analysed, extracted, stored, and otherwise utilized for many different purposes. 

Having access to such data can help you improve your business in multiple ways. Read on for some handy tips you can follow to incorporate big data more often and more effectively into your eCommerce operations. 

Conduct Shopper Analysis

It’s tough building your business if you don’t know enough about the people who buy from you and those you want to target. As such, conduct shopper analysis so you have a better understanding of what products to stock, price points to sell goods at, how to design your website processes, the information to provide, and more.

Also, you can use big data to make it quicker and easier to gather all the details you need. Use a quality web analytics tool on your website to capture pertinent data as people browse and buy online. You’ll be able to see how people arrive at your website, how they move around it, and what attracts their attention or turns them off, among other things. The more information you can track and analyze, the clearer you’ll be about satisfying customers.  

Lower Shopping Cart Abandonment

One of the most frustrating elements of operating an online store is seeing people put items in their shopping carts but fail to finalize their transactions. There are many reasons why this happens, some of which you can change and some you can’t. Big data can help you work on the former. If you lower the shopping cart abandonment rate for your business by even one or two percent, this will add up to significant increases in sales and profits annually. 

Use analytics tools and the data you get from them to get an idea at what point people tend to click away without purchasing and what you can change on your site as a result. For instance, you might notice people abandoning their carts due to shipping or return fees and timeframes, or return policies they don’t feel comfortable with. 

They might also leave because of an inability to contact customer service, a laborious or confusing checkout process, or lack of product information or visuals. It may be one big issue causing havoc for your sales, but often, it’s about making minor tweaks here and there, testing and measuring to see what can lead to small but mighty positive changes. 

Increase Personalization

These days, consumers are used to receiving and rather expect personalization when they shop. As such, you may miss out on sales and on engaging with people if you don’t look for ways to personalize their experience. Big data can help. Data can give you insights into who your clients are and how they shop. 

Use this data to provide more individual browsing and buying processes. Look for ways to give consumers content, goods, services, and offers that make them feel special, valued, and seen. For instance, take note of when people have shopped with you multiple times and what they bought. Then, send them information about new products you think they might like or special deals at the times of the year when you know they typically browse. You might also create a loyalty program that taps into the idea of personalization. 

Other ways to use big data to grow your eCommerce store include improving the customer service you offer people and planning more effective marketing campaigns. Big data can also assist you with forecasting and planning your inventory, and in making better and timelier decisions. 

Consider how your business operates and who your top customers are, and you’re sure to think of additional ways to utilize big data effectively.