Question

Choose an organization (Amazon, Sony, etc.) and discuss how they manage large data sets including protocol for transferring data. Select one public data set and examine the technical format and how the data is manipulated globally.

Answer 1

Big data refers to a huge size of data which can contain any data types. Handling these data is always becomes more and more challenging when it increases continuously and organizations need to change and manipulate them continuously according to the market need or business need. Capturing, storing, analyzing visualizing, sharing, transferring, all the activities becomes easy for the organization when they use the specific tool for the handling those huge data. In general a data size few dozen terabytes to many petabytes are come under big data.

Big data is helping the e commerce companies and supporting the customers who are shopping from them to improve their shopping experience. It increase customer satisfaction, and boost profits for the seller. The implications of big data are huge.

The online marketplaces are using the big data to upload their products, setting their price, changing the price, helping customer to choose the correct product, helping them to spend less time on purchasing. There are lot of application can be done with minimal investment using big data.

There are many benefits of using big data and some of them are listed below.

1. COMPETE ON VALUE RATHER THAN PRICE

Amazon, Ebay, Flipkart, Shopcues there are many E-commerce companies are using the big data for effective pricing to their products. They can access the price of the same product from the competitors and respond quickly with its own deals. They might change the price of any component for more them 10 times a day in order to keep a competitive atmosphere. This is called dynamic pricing and it means that the companies are not competing with the price alone, they are competing with the other sellers also. The profit on the product also changes with the dynamic pricing. These business grows on the customer satisfaction and reputation, so when the customers find a better price for the same product in some website, they try to come back for their next purchase to the same location. Which improves the business of the company.

1. PERSONALIZE EVERY INTERACTION

These E commerce companies recommend the products to their customers when it is necessary. Amazon is the pioneer in this. They can recommend the products to the user what they might be looking for. These comes from the search the user makes on their website. They come with a tagline that Amazon’s “Customers who bought this item also bought…” . This helps their customer to search for the item and helps nearly 30% when it was first implemented. This is a good way to make the customers look into their website and spend more time there. Customers spending more time will buy more from them.

1. PREDICT TRENDS

Now a days, every second day a new trend is coming into the market and people use social media to track down the trends. These E commerce companied can track down the data from the third party companies and they can understand the pattern of the user’s preference and they can help them accordingly. They project the products to the user according to their choice and preference. And when a user finds his/her choice at the same place they tend to buy more from there.

1. REDUCE SHOPPING CART ABANDONMENT

Different E Commerce companies can also use cross-device tracking in order to reduce shopping cart abandonment rates. As an E Commerce company EBay made a research and found that the average consumer uses as many as three or five devices or platforms during the course of her buying journey. Mapping this journey with data allows retailers to help customers transition from one device to the next and complete their purchases.

1. IMPROVE THE CUSTOMER EXPERIENCE

Customers always find out the retailor they like because they like their way of presentation the way they recommend products to them, the way they support the after sales etc. When a customer buy the product from any retailor, they can send feedback, with these feedback of their buying experience the other users also get affected. So these big data help big time to all the users and retailors to improve their experience.