The use of Big Data in E-commerce

Data Collection and Analysis in E-commerce

Modern technologies allow e-commerce companies to collect huge amounts of data from various sources. This data includes customer activity on social media, geolocation services, website browsing history and abandoned shopping carts. However, collecting data is just the beginning. Proper e-commerce data entry ensures that this information is accurately recorded and structured for effective analysis. The analysis of this data is crucial, as it allows companies to understand customer purchasing behavior and adapt marketing activities to current trends.

Machine learning and Big Data

Collecting data itself, scraping from competitor websites, price comparison websites or market places is one thing, but organizing the data is another. In the process of the so-called "matching" we find similar auctions and offers, which can then be compared with each other, drawing appropriate conclusions regarding their price, quantity or other parameters of the purchasing process. Additionally, a number of things may not be identical, but comparable. For example, derivative products from another brand form a product category that should be considered as a whole. Machine learning tools allow you to understand the relationships between products and compare them so that the user can analyze a specific assortment.

Segmentation and Personalization of Offers

Data segmentation and offer personalization are the foundation of success in e-commerce. Thanks to Big Data, companies can precisely track user behavior on their websites. Analyzing clicks, adding products to the basket or completing the purchase allows you to create personalized offers that meet the individual needs of customers. This strategy not only increases sales, but also builds customer loyalty.

Creating New Products

Data analysis allows e-commerce companies to create products that respond to current customer needs. Collecting and analyzing information about user preferences allows you to predict market trends and introduce dropshipping products that will gain customers' recognition even before they have a chance to identify them. This is a key element of gaining a competitive advantage in the dynamic e-commerce market.

Customer Service Optimization

Big Data also plays a key role in optimizing customer service. Analysis of data from social media, online forums, opinion forms and online chats allows companies to quickly identify customer problems and respond to them in real time. Thanks to this, it is possible to adapt the offer to the individual needs of users, which significantly affects the level of customer satisfaction and building their loyalty to the brand.

Pricing Strategies

Data plays a key role in shaping e-commerce pricing strategies. Thanks to advanced algorithms and analytical tools, companies can monitor competitors' prices and adjust their offers to stay competitive in the market. Precise data analysis allows you to quickly respond to market changes and optimize your pricing policy, which translates into increased margins and profits.

Introduction to Price Monitoring

In the digital age, where competition is just around the corner, monitoring competitor prices becomes crucial for every entrepreneur. Dealavo, as an advanced tool, offers unique opportunities to track and analyze market prices, which allows companies to maintain competitiveness and optimize their pricing strategy.

Pricing intelligence platform in Dealavo, source: www.dealavo.com

Why is Price Monitoring Important?

• Understanding the Market: Find out what prices are like in your industry.
• Price Optimization: Adjust prices in response to market changes and competitor behavior.
• Increase Profits: Smart pricing strategies can significantly increase profitability.

Dealavo - Your Price Monitoring Tool

Dealavo offers not only basic monitoring functions but also advanced repricing options. This enables dynamic price adjustments based on current market data and competition activities.

Dealavo - a program for monitoring prices of any platforms - both Marketplaces and individual online stores. Source: www.dealavo.com

Dealavo Key Features:

1. Market and Competition Analysis: Collect and analyze price data in real time.
2. Dynamic Repricing: Automatic price adjustment to changing market conditions.
3. Easy Integration: Dealavo cooperates with popular e-commerce platforms.
4. Price Alerts: Alert you about sudden price changes and price wars.

How to Use Dealavo Effectively?

1. Select Products to Monitor: Determine which products require special attention.
2. Set Pricing Rules: Define a pricing strategy tailored to your business.
3. Analyze and Optimize: Regularly review collected data and adjust your strategy.

Dealavo pricing rules:

Dealavo offers a variety of pricing rules that allow for flexible price management:

• Pricing between two competitors: Automatically set prices between two selected competitors.
• Margin with amount/percentage mark-up: Ability to set a price with a minimum specified margin.
• Prices relative to the competition: Generate prices lower or higher than selected competitors.
• Price change by a specific amount/percentage: Adjust prices by a set amount or percentage over a set period of time.
• Cost-based pricing: Set prices on a cost-plus basis.
• Prices based on market position: Set prices relative to your competitors' market position.
• Prices with low stocks: Automatically reduce prices at end-of-series and sales events.
• Optimizing profits from AI: Use AI to optimize prices according to market data.

Dynamic Pricing and its function automatic price change with competitor price tracking available in Dealavo allows you to use automatic price repricing to adapt to the market situation, source: dealavo.com

Case Study

Dealavo is not just a price monitoring tool, but a comprehensive price management platform, providing entrepreneurs with an advantage on the market. Thanks to intelligent solutions and a flexible approach to pricing, Dealavo is the ideal partner for companies seeking to optimize their profits and maintain competitiveness.