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What is Big Data?
Big data is one of the most used buzzwords uses for modern business management. Big data refers to an extremely large collection of datasets that are used to analyze and reveal hidden patterns and trends in the data to either correctly evaluate your business or leverage the knowledge gained to amplify your output.
Today data generated by people is believed to be more than 4 zettabytes that’s about 40 trillion gigabytes and is expected to keep growing, allowing machine learning models and AI to infer on this can make machines find insights that may have gone unnoticed and stayed hidden otherwise.
Some benefits of using data generated by your store:
- Gaining deeper data-driven insights to make better strategic decisions.
- Improving control of operational processes for your store.
- A better understanding of customers and their behavior.
- Cost reductions and effectiveness.
- Improve customer service and customer satisfaction.
- Personalize customer experience.
- Provides payment anomalies analysis.
- Better targeted advertising.
What does a Data-driven approach mean?
Instead of selecting a strategy you think is maybe best for your e-commerce store, data-driven is a strategy that uses data to make informed business decisions. Information obtained will help you make decisions that involve the process of grouping together historical information to analyze trends and allowing you to make decisions for the future based on what may have worked best in the past rather than making decisions based on gut feelings or opinions.
In addition, to a large amount of data being generated today, the information has become also more complex, making it very difficult for businesses to manage and analyze the data their e-commerce store generates. Cleaning the wrangled data and deriving business analytics from it, is allowing business owners and managers to understand the true dynamics of their business, personalize marketing to customers, anticipate market shifts, and better manage risks.
Big Data with vizB
vizB connects and collects the big data from your eCommerce store using the connectors available on Shopify, BigCommerce, and Magento. The Data is cleaned, analyzed and insights are derived for you and your team to visualize them to make informed decisions and grow your business.
vizB provides information derived from your store to obtain a quick summary of your store performance. With vizB you can better track your goals, observe trends and patterns in your sales, and many more.
vizB extracts knowledge from your raw data to assist you in managing your inventory by using Artificial intelligence to forecast your sales, predict demands for your products, provide prices to bring in more attention from your customers, and provides a range of customer segmentation options. vizB’s email alerts keep you informed of your business goals, anomalies, and performance thereby empowering you to gain a competitive advantage.
Conclusion
Big Data is key to build your business, Business that use data at the core of their decision-making have been able to reduce costs and increase profit. With vizB now you to can make the right use of your data with just a few clicks.
