Sunday, August 21, 2016

Importance of abandoned order statistics in E-Commerce portal !!!

Higher number of abandoned order in an e-commerce portal reflects the negative performance of the business.  Ideally, after performing lots of investigations through social media information drilling and finding highest number of customers good reviews/ratings, online shopper adds the products to the shopping cart.  But, if user/shoppers left the site before placing the order,  the e-commerce vendor ends up with the revenue lose.  20 to 30% of abandoned orders per month seems to be accepted but if it increases exponentially, the e-commerce vendor has to analyze and take it very seriously to understand the reasons  and subsequently upgrade/modify the e-commerce portal. However, E-Commerce portal has to be technically fit to store abandoned orders details in database as per configurable time period settings.  Here are the few basic clause with remedies to reduce the number of abandoned orders:
1.  Insecurity  in the payment gateway can be improved by providing various famous payment gateways like VISA, Master Card etc with icons. Loyalty points are also another attractive option.
2.  User registration steps should not be too long and it need to be integrated with social media where user can login to portal using his Facebook, LinkedIn, GooglePlus account.
3.  User's email id should be collected from the list of abandoned order so that a detail  email can be sent politely to know the reason for not placing the order and to seek suggestions for  improvement in the e-commerce portal.   

4.  Seasonal greetings emails, various discount offers, new product arrival in the e-commerce should be sent periodically so that those users can be motivated  start placing orders.

Friday, August 12, 2016

Importance of Mobile Apps in today's business world

Starting from small scale business to large one, mobile apps have completely changed the business scenario today.  In coming days, it would be back bone of information sharing/distribution system like the way we are leveraging today with web site launching. Extensive growth of mobile apps developments (can say in billions) is unfolding the new opportunities towards existing business cycles. Why are the businesses demanding mobile apps near future ? Here are the tine

-  79% smart-phones users use their mobile to make purchasing decisions which has direct impact on e-commerce vendors.
-  On an Average, people check their mobile every 6 minutes.
- The average time spent on Mobile Apps is more than 70%
- People use mobile Apps 6-8 times more than the websites.
- More than 50% users make purchase on Mobile within 1 hour as compared to 1 month on Desktops.

- Business owners now a day's started to use Mobile Apps for Customer Engagement.

Friday, July 29, 2016

The massive explosion of data is taking place after the invention of social media like FaceBook, Twitter, LinkedIn, Emails, Blogs etc. As per report, 24 petabytes data are processed by Google per day. On average, the Like and Share Buttons are viewed across almost 10 million websites daily. Photo uploads are total 300 million per day in FaceBook. How can we process those huge volume of data? Because traditional software don't have the capability to store those huge volume of data. Typically we are referring this as Big Data. Parallel and distributed computing is making it possible to process and analyse for which Apache's Hadoop is famous and changing the pattern of business. Organizations are now bound to perform the customer sentiment analysis in order to take the critical business decisions. However, Big Data analysis is slowly entrapping into all the business domains including medical and health care sector.