Data Analytics Archives - Page 2 of 2

Yashica Chopra
May 06, 2024
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11 Top Ecommerce Development Companies in India

Indian ecommerce businesses can achieve their goals and expand into newer markets by investing in digital technologies. We’ll discuss the best ecommerce development companies in India and their role in assisting merchants and retailers in adopting the digital-first approach. Ecommerce is a flourishing business industry in today’s world. With the right kind of ecommerce analytics services, you can take your business to new heights by making proactive data-driven decisions. As per Forbes, the Indian ecommerce market is expected to be INR 4,416.68 billion in 2024 and is estimated to touch INR 7,591.94 by 2029 with an annual growth rate of 11.45%. Moreover, Boomers and Millennials, Gen Z, and Gen X are active on the internet, doing their bit to drive the global online shopping rate. While the Millennials are likely to contribute around one-third of the total global social media shopping expenditure by 2025, Gen Z will contribute 29% and Gen Z 28%. The mobile ecommerce rate has also gone up to constitute 60% of the total ecommerce transactions. Partnering with the best ecommerce development company in India can give the much-needed competitive edge and boost sales for your ecommerce business. Let’s find out more about the leading ecommerce development companies in the country. What is an Ecommerce Development Company? An ecommerce development company is much more than a website builder. The company offers a diverse range of services, like strategy formation, technology adoption, third-party application development, customization, tracking ecommerce analytics trends, and long-term managed analytics solutions. So, what is an ecommerce developer? In short, it is an end-to-end ecommerce analytics company that provides your business with the necessary support to effectively navigate the ever-changing digital markets within the country and around the globe. Indian ecommerce sites can streamline their products and services, improve operational efficiency, and amplify revenue(MRR) by hiring an ecommerce development company. Top 11 Ecommerce Development Companies in India DataToBiz DataToBiz is one of the top ecommerce development companies in India offering tailor-made and end-to-end managed analytics solutions in the industry. From strategizing to implementation and maintenance, the company provides an array of services based on your business requirements. Data warehousing for ecommerce data integration and management, business intelligence tools and dashboard implementation, real-time report sharing, etc., are some services offered by the company. DataToBiz is a certified partner of Microsoft, AWS, and Google Cloud. It has worked with many businesses in the digital commerce industry and has the expertise to develop data-driven decision-making models for varying specifications. The company specializes in working with diverse technologies to build a powerful and reliable analytics engine for establishments from various industries and sectors. Mu Sigma Mu Sigma is a data science and analytics solution provider that offers various business intelligence services. The company provides in-depth commerce sales analytics and builds intelligent customer experiences for retail and online sellers. It helps you with tailored solutions for effectively managing pricing, operations, promotions, order fulfillment, etc. The company’s AI-driven support enables ecommerce businesses to combine technology and traditional knowledge to become successful. Fractal Analytics Fractal Analytics is an AI analytical company with a presence in many industries. It is also one of the ecommerce development companies India with adaptive and scalable solutions like customer analytics, merchandise analytics, store operations analytics, supply chain analytics, and many more. The company combines data platforms, data governance, and business intelligence to promote better decision-making based on actionable insights. It has partnered with fifteen leading tech providers, like Microsoft, AWS, SAP, Oracle, etc., to provide comprehensive services to various clients. Quantiphi Quantiphi is an award-winning AI analytics and digital engineering company that specializes in solving complex business problems through cloud and data engineering services. The company offers e-commerce analytics to help revolutionize the retail experience for businesses and customers. It helps completely re-design and transform the ecommerce business to unlock the power of data and analytics in growing your business. Customer behavior, omnichannel marketing, operational insights, churn prediction, etc., are some solutions provided by the company. It also emphasizes modernizing security and surveillance by building reliable AI and ML models for data engineering and governance. Genpact Genpact is an ecommerce development company in India that offers innovative solutions for businesses to achieve their goals by adopting advanced technologies. The company uses generative AI and analytics to help retailers and online stores enhance customer experience, increase sales, and streamline the supply chain. It helps ecommerce businesses provide personalized experiences to the customers at every touchpoint and use data to understand their behavior, preferences, etc. The company works with small and medium ecommerce establishments and provides services for financial crime risk management, automation, etc. Happiest Minds Technologies Happiest Minds Technologies is an IT company offering digital transformation services to clients from several industries. It helps retailers implement e-commerce category analytics, sales analytics, etc., to reduce operational costs, increase the conversion rate, and reduce cart abandonment to boost sales. From setting dynamic pricing to gain a competitive edge to personalizing user experience for customers, the company offers customized services to all businesses from the ecommerce industry. It also provides services like big data analytics, DevOps, omnichannel transformation, etc. LatentView LatentView is a digital analytics and AI company offering end-to-end analytical services to help businesses gather meaningful insights from data and make more effective decisions in real time. It is an ecommerce development company India focusing on faster innovation, improving operations, and increasing business revenue. From forecasting sales demand to predicting customer needs, optimizing prices, and identifying seasonal trends for promotions, the company offers assistance to ecommerce businesses in many ways. It has developed a solution, AccuPromo to optimize retail promotions, inventory, and demand at any time. Course5 Intelligence Course5 is a transformative intelligence company offering pure-play data analytics to help businesses with digital transformation and AI adoption. The company’s services are designed to solve complex business problems by leveraging the latest technologies available in the market. It helps many ecommerce sites India to implement cloud, data engineering, and business intelligence technologies to overcome various challenges. The company builds reusable frameworks to provide long-term value to ecommerce and other businesses. Course5 Discovery is an augmented AI solution for ecommerce businesses to derive actionable insights about products, customers, market trends, etc. Nihilent Analytics Nihilent is a global data analytics consulting company with a presence in industries, such as retail, manufacturing, banking, etc. It is one of the ecommerce development companies helping traditional businesses transform their processes and take advantage of digital commerce to boost their revenue. The company

Yashica Chopra
May 01, 2024
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Ecommerce Analytics in India – An Overview

Ecommerce is an active and budding industry in the Indian market. Thousands of Indians buy and sell products online every day. Here, we’ll discuss what ecommerce analytics is and how it can promote better results for online store owners in the country. The ecommerce industry in India has been growing exponentially for the last few years. Many Indians prefer online shopping and home deliveries, be it groceries, electronics, furniture, or high-end items. According to IBEF (India Brand Equity Foundation), the Indian ecommerce market is expected to reach 350 billion USD by 2030. We currently have 125 million online shoppers and another 80 million are estimated to add to the count by 2025. The Digital India program has nudged many businesses to expand their stores to electronic marketplaces. With such growth in the ecommerce industry, it’s no surprise that business owners are investing in online analytical tools to derive useful insights from data and make better decisions to boost sales. SMBs and large online retailers are partnering with ecommerce analytics service providers to digitally transform their businesses and increase ROI. In this blog, we’ll read more about e-commerce analytics and its role in the Indian markets. What is Ecommerce Analytics? Ecommerce analytics is the process of collecting, analyzing, and interpreting data from online marketplaces, digital stores, electronic transactions, etc., to make data-driven decisions. The data is collected from various internal and external sources like website traffic, social media reactions, ad clicks, online sales, product/ brand searches, and much more. There are many tools for Ecommerce analytics providing in-depth insights and graphical reports for retailers and store owners to easily understand customer behavior and market trends. From creating a robust marketing strategy to forecasting market demand, analytical insights can help an ecommerce business in many ways. While tools like Google Analytics are helpful, an ecommerce business needs tailor-made solutions to derive actionable insights in real-time. Partnering with reputed Ecommerce development companies in India helps business owners streamline their data (and data sources), create seamless workflows, automate recurring tasks, monitor daily activities, and enhance customer experience Types of Data Used in Ecommerce Analytics Data is crucial for analytics. In the ecommerce industry, four types of data are used by businesses to gain a deeper understanding of the target audience, markets, customers, and competitors. Zero Party Data Zero-party data refers to the data a business directly collects from the target audience. It could be in the form of surveys, quizzes, feedback, etc. The audience voluntarily shares this data with the business, which is then analyzed using an ecommerce tool. First Party Data First-party data belongs to the ecommerce business and is extracted from website traffic, in-store visits, interactions with customers (online and offline), etc. The customers are aware that their data (preferences, behavior patterns, interests, etc.) are collected by the business. Second Party Data Second-party ecommerce data is collected and owned by other organizations which share the data with the businesses. This includes data from affiliates, business partners, etc., and provides a sneak peek into customer behavior, purchase habits, and market demand for different products. Third-Party Data Third-party data is collected by organizations that are not connected or affiliated with the ecommerce business. It includes market research firms, analytical service providers, data brokers, etc., who sell customer data to businesses. KPIs for Ecommerce Analytics When implementing data analytics in ecommerce and retail, KPIs (key performance indicators) have to be selected carefully. These metrics help store owners know how their business is performing and find ways to improve the results. While an ecommerce business has many KPIs to track, the following is a must. Discovery Rate The discovery rate is the percentage of users who discover or visit the ecommerce website for the first time. It shows whether the efforts to attract new customers are being successful. It also helps determine which channels are delivering the expected results and where the business can find more opportunities. Acquisition Rate Acquisition rate is another important KPI for digital commerce analytics. It shows the number of visitors who completed the necessary actions on the website. It is derived by dividing the total number of people who became customers from the total audience. This puts the customers in the sales funnel. Conversion Rate In some instances, the conversion rate is the same as the acquisition rate. However, conversions are considered subjective, while acquisitions have specific criteria. This changes from one marketing campaign to another and what the business wants. Customer Retention Rate As the term suggests, the customer retention rate is the percentage of customers who remain with the business and initiate multiple purchases over time. ecommerce analytics helps find ways to improve the retention rate by creating customer loyalty programs, referral schemes, etc. A higher retention rate implies greater success. Use Cases of Ecommerce Analytics Customer LTV By using the analytical tools of ecommerce, businesses can process customer data to determine their value over their lifetime (interaction with the store). A high-value customer is someone who generates more sales and repeat purchases and adds value to the business. Retailers can create highly targeted campaigns, deals, and offers for such customers. Customer Behavior Customer behavior analytics deals with understanding how a customer interacts with the business – website visits, products they check often, factors that influence their decisions, CTAs (call to action) they respond to, and so on. It helps in product development, better marketing strategies, and showcasing the right product to the right customer. Customer Segmentation Segmenting customers based on demographics, interests, age, gender, purchasing habits, etc., can be done through ecommerce analytics. It helps in developing personalized marketing campaigns for each segment and reaching out to them through their preferred choice of communication channels. Sales Performance By investing in the best sales analytics software, businesses can get comprehensive insights about the sales generated for the given period, estimate sales for the coming times, the difference between targets and achievements, and how to improve sales. Fraud Detection ecommerce analytics is also helpful to minimize the risk of fraudulent transactions by analyzing customer and sales data. The software will send alerts for potential risks, which help in devising strategies to safeguard the business and the interests of genuine customers. Revenue Management ecommerce businesses can rely on the best revenue analytics software to track their earnings and expenses. Store owners can get insights about where most money comes from and where it is being spent, the soft areas for improving MRR,

Yashica Chopra
April 24, 2024
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Cloud Transformation Solutions- Future Proof Your Enterprise

Cloud transformation is the use of remote cloud applications, platforms, and IT infrastructure in an enterprise. Here, we’ll discuss how cloud transformation solutions can future-proof a business and empower it to achieve its goals and objectives. Cloud has become a keyword in today’s global scenario. Businesses don’t just store data on the cloud but also build their entire IT infrastructure on a remote cloud platform. Cloud transformation is a vital part of digitally transforming a business. It makes the systems more robust and efficient. In fact, cloud transformation solutions are considered a sure way to future-proof a business and gain a competitive edge. According to Gartner, the public cloud services spend was around $600 billion in 2023. A report by Synergy indicated that the cloud infrastructure services generate revenue of $178 billion per year. Amazon S3 owns 24.61% of the enterprise cloud storage market. These statistics show that many enterprises are partnering with digital transformation companies to invest in cloud technologies and revamp their business processes. So, how do you see the future of cloud computing? How can you strengthen your business and be ready for future challenges by adopting cloud solutions? Let’s find out in this blog! Is Cloud Computing Future Proof? Yes, cloud computing is considered a future-proof solution for businesses to maintain their IT infrastructure with greater data security, more flexibility, scalability, and ease of use. Cloud computing is the process of digitizing the daily operations and business processes in an organization. It involves services like SaaS (Software as a Service), PaaS (Platform as a Service), and IaaS (Infrastructure as a Service), where businesses subscribe for specific solutions/ applications/ tools, etc., from third-party vendors and service providers. The IT systems, network, and applications are hosted on remote cloud servers rather than in-house. Cloud digital transformation empowers the business to unlock its full potential through data analytics, real-time insights, advanced tools, collaboration, etc. Top 5 Capabilities of a Cloud That Enable Transformation A report shows that 71% of organizations use multi-cloud infrastructure to streamline their processes. Digital transformation cloud adoption can make a business more efficient, proactive, and successful. This relies on the five core capabilities of the cloud that make way for transformation in an enterprise at all levels and verticals. Speed and Agility Cloud solutions have accelerated many processes by eliminating unwanted steps. For example, businesses don’t have to procure new hardware to build the systems from scratch. The software applications, tools, APIs, etc., can be accessed remotely and stored on another server. That way, any employee with access credentials can use the software even if it is not loaded on their personal computer/ laptop. Cost Savings No enterprise can ignore the cost of building, maintaining, and upgrading the IT infrastructure. Moreover, the business should also consider sudden breakdowns and issues which lead to delays. However, with cloud digital transformation services, there’s no need to buy any software or application. Enterprises can subscribe to access and use the tool for as long as they need it. No need to invest in technology that goes obsolete after a while. Faster Recovery and Rapport Technology cannot be separated from technical glitches and errors. Even the best systems and tools tend to cause trouble at some point. However, with cloud services like Microsoft Azure, AWS, or Google Cloud, it is easier to identify and resolve the issue. The infrastructure comes with monitoring features and can be rectified from remote locations. No more waiting for a technician to arrive at the office and physically upgrade or re-install software. Scalability Enterprises have varying requirements based on factors like market demand, project specifications, business growth, etc. So, the technology used should also be flexible and scalable to suit the changing needs. Cloud solutions support scalability and dynamically adjust the parameters based on pre-defined triggers. It is also easy and cost-effective for a business to upgrade or downgrade the subscription plan for a limited period. Access to Advanced Technology Cloud platforms spend millions of dollars on innovation. New applications, tools, frameworks, etc., are regularly added to the marketplaces. For example, Microsoft Azure offers over 41,000 products in its marketplace. Enterprises that use Azure Cloud can access these products and use the ones that are helpful for their businesses. Moreover, the products are compatible with the platform’s features and minimize the risk of glitches. Reasons to Invest- In Cloud Transformation Solutions Many SMEs and large enterprises are partnering with digital transformation companies to take advantage of the various benefits provided by cloud solutions. Check out the following reasons to invest in cloud transformation. Operational Efficiency With cloud solutions, there’s no need to rely on individual data silos in each department or wait for other departments to share the necessary information required by an employee. The team members can access data in real-time with a single click, run queries, and get near-instant analytical reports. This speeds up their work, increases productivity, and enhances operational efficiency. It also facilitates the automation of recurring tasks. Cost Management One of the core concerns of collecting and storing business data is cost. Data management costs can be high as the enterprise grows. However, that doesn’t have to be the case with cloud transformation. Cloud data storage is more easily scalable and cost-effective in the long run. Additionally, the maintenance expenses will also be reduced as there’s no need to maintain a physical data storage unit. Data Security Storing data is just one part of the process. Keeping it secure and preventing data theft is a major task for business organizations. Cloud transformation services include security measures, data governance, and compliance which empower the enterprise to determine who gets authorized to access the datasets. Furthermore, cloud platforms have multiple security layers and offer multiple backup options to minimize the risk of data loss and downtime. Seamless Collaboration Several establishments have adopted hybrid workplace cultures which combine on-premises and remote teams. Employees can work from the office or from their locations and anywhere around the globe. These collaborations can be streamlined by cloud native transformation services. Remote employees can just as easily access the data and applications on

Ankush Sharma
November 21, 2019
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Kickstart data analytics for e-commerce business with unbelievable $299 Budget

How we at DataToBiz helped ecommerce start-up in kick-starting data analytics journey with unbelievable $99 budget by using freemium and open source tools

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