In this age of information-overload, online retail industry has been experiencing an unprecedented rise in the volume of data. Today, online stores gather and capture enormous data, from multiple touch-points, making the warehouses bigger, but not necessarily better.
Since, (raw and random) business data has surged in volume; it has become a cumbersome task to dig out relevant information to achieve useful insights and a complete perspective of the market. As per an estimate, eCommerce giants like Amazon and eBay generate approximately 50TB data daily. With such massive set of information, analyzing which products were to be sold or which are more in demand, becomes one tedious job for the sales managers and the retail stores managers as well.
Since, this huge quantity of data requires thorough processing, which not being a core area of expertise for these eCommerce retail stores, it becomes cumbersome and time-consuming. Hence, it often gets ignored and the valuable data, eventually losses it value by being locked up in the silos.
Often ecommerce sales manager find themselves tangled into a labyrinth of unprocessed data, subsequently losing on many lucrative sales opportunity. Therefore, intervention of a professional data processing service provider, becomes essential.
These adept professionals collect and crunch the massive, random and unprocessed information into relevant, coherent, updated, and comprehensible information-sets. These data processing service providers, expert at data conversion as well, help you convert your scanned images to desired Text formats.
- OCR conversion from & to PDF or Word – Scanned Barcode image files into readable product description format
- XML conversion from & to CSV, Excel, XSD, HTML, PDF for the queries executed on servers for fetching relevant data points
- Excel conversion from & to PDF, for data entry done in form of excel sheets maintained by customer touch points
- PDF to Word, Excel, PowerPoint, for reports, feedbacks, suggestions and other such documents that are scanned to PDF can be converted for further utilization or data analytics.
This further enables the sales and marketing managers to immediately respond to the varying purchasing preferences of the online buyers, devise effective strategies and understand market trends.
Data processing for eCommerce giants – Deriving valuable insights from unstructured information
Deriving data can become overwhelming, especially when the data-sets are all shattered, random and unprocessed. Data processing expert picks up relevant information, process it and convert it into easy-to-understand formats like table or charts. This makes it quicker and simpler for the online sellers to catch the pulse of the market. Moreover, it even proves helpful:
1. Enables personalized marketing
In an industry where customer sentiments play a very decisive role, taking a data-driven approach becomes imperative. Ecommerce giants can utilize the processed data to analyze customer preferences, further making it convenient for them to give product recommendations.
Whenever a registered user logs in to their favorite online store, they see product recommendations. This is displayed based on their browsing history or their previous purchases and even what they constantly searched for on the site. This is a common occurrence on big eCommerce platforms. Interestingly, it is observed that personalized experience; eventually stimulates customer to buy more.
2. Enables to stay focused
Ecommerce big-wigs like Amazon, generally gather extremely massive volume of data, per second. Given the rate with which the data is captured it is apparent to lose focus on which data can and should be used, and of course purpose of gathering it.
Since, several big players in the online retail industry find it overwhelming to handle the continuous data influx, they often overlook it, resulting into several missed out opportunities. Professional data processing plays a very strategic role, here. They are proficient in gathering data, dig out relevant and latest information from the tons of gathered data.
In addition to this, they crunch massive rows of data and transform it into easy-to-comprehend formats as mentioned above. Any market-related data can be easily retrieved and used to derive actionable insights for well-informed business decision. Additionally, if you hire data processing experts, they will ensure that you stay regularly updated and relevant in the continually changing market.
3. Leverage data to bring in innovation
Let us take an instance from Amazon, considered to be one of the most successful eCommerce companies today. It sells almost anything and everything. The reason behind its rise is often attributed to create optimum value out of the data. Following its footsteps, eCommerce giants are now approaching data processing professionals to leverage data and bring in more innovation.
Information, when presented in easy to comprehend charts and dashboards, enables well-informed decision-making, helping sales managers to turn challenges into opportunities.