E-commerce is currently grappling with several challenges, including the ever-growing competition in the global market, the heightened expectations and volatility of customers, a surge in orders, and the utilization of big data.
The question that e-commerce operators must address is: How do I meet my client’s expectations and still stand out from the competition? There is only one answer: Data, the most valuable ally in this intense battle.
The Cambridge Dictionary defines Big data as a very large set of data that are produced by people using the internet, and that can only be stored, understood, and used with the help of special tools and methods.
In an article, Bloomco’s consultants highlighted the trends of Big Data in E-Commerce.
It appears that data allows to :
Nowadays, in order to be more competitive, companies must capitalize on these trends. But, the trend we are most interested in focuses on Big Data and its application in the Supply Chain.
According to a study led by Pitney Bowes, 136 billion parcels were distributed worldwide. A number likely to double by 2026 ! It is true that the sanitary crisis greatly contributed to this rise, but the trend of online sales was initiated long before the pandemic. With the number of parcels growing every year, automation and dematerialisation of logistics processes are becoming major challenges for all e-tailers. And Big Data is pretty useful to achieve this.
With intelligent data resources and predictive analytics, it becomes possible to predict inventories, which therefore enables cost reduction. Hence, data is essential to track demand peaks and optimise inventories.
In order to satisfy the customer, optimizing the process of shipping and delivery of parcels is essential. Through the analysis of supply chain data, it is possible to improve the tracking of parcels and define the most appropriate itinerary. The exploitation of data offers a real-time analysis, which considerably improves supply chain management.
Data can also be useful for product & quality control or even machine maintenance.
The offer of big data is tempting: Better control of costs, more transparency, and more efficient supply chains. It’s the holy grail for e-commerce operators to meet clients’ expectations and stand out competition. It became a true vehicle for process optimization and, therefore, for business growth.
As big data enables predictive analysis, it is revolutionising the approach of stock planning systems. An intelligent software like Flowlity’s will allow you to anticipate the demand and gain visibility and control of your supply chain. Basically, everything you need in this race toward digitalization.
Ultimately, data and artificial intelligence are serving consumers and their convenience. Isn’t convenience the backbone of e-commerce?
To learn more, read our most recent article on convenience and e-commerce by clicking here. >