Ecommerce and mobile-based transactions are growing exponentially, but with this welcome progress, concerns are no less.
Unless these concerns are addressed at the earliest, internet retailers are not likely to provide continued support to the digital marketing domain.
Harnessing Big Data
While there are so many challenges facing ecommerce, one area needs special mention, and that is Big Data. Today, ecommerce is on the verge of a big transformation driven in no less ways by Big Data and intelligent technologies.
This shift is because entrepreneurs have realized that success of digital marketing needs efficient, personalized, and an even automated customer drive.
Presently, the trend is not just customer acquisition. Online marketers are using key data metrics to comprehend and predict consumer behavior.
Are we not seeing branded products being linked with certain smartphone applications?
This approach is helping companies to use data collected by the application to fine-tune their products for future.
It may sound bizarre, yet we cannot escape the fact that computer-based recognition networks have become a reality. By recognizing languages, speech patterns, and other customer behavior, highly complex networks are enabling product discovery.
A word of caution
While Big Data can deliver benefits, Michael Dadoun recommends that digital entrepreneurs must tread this domain carefully.
Consumer can be wary of stalking and intrusions. So, it is important that consumers be allowed to choose the level to which ecommerce merchants adopt customization.
Michael Dadoun at UpClick made online payments simple. Now, he has diverse challenges.
Michael Dadoun is presently CEO of UpClick.com, a leading full payment processing solution. He is also associated with Kutoto Inc and Lavasoft.