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How Does Data Science Application in eCommerce Work?

Data science applications in eCommerce help digital commerce providers extract customer insights and secure data-driven growth across endpoints.

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How Does Data Science Application in eCommerce Work?

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  1. Downloaded from: justpaste.it/94igv How Does Data Science Application in eCommerce Work? Capturing their audiences’ attention and converting them into paying customers is paramount for online businesses in a fiercely competitive e-commerce market. Most eCommerce brands are turning to custom eCommerce application development services, which have proved to be game-changing. Driven by the need to succeed, more and more companies are turning to artificial intelligence (AI) and data science applications in retail e-commerce software development to maximize customer retention and conversion. According to a Gartner report, 30% of all B2B companies will employ AI to augment at least one of their primary sales processes by 2020 by hiring a reliable eCommerce development company. Using AI in e-commerce sales brings more efficiency to business processes, driving the conversion rates up, as per Gartner. Data science applications in eCommerce help digital commerce providers extract customer insights and secure data-driven growth across endpoints. What is Data Science? Data science uses AI in its core operations and is the current reigning technology that has brought about the “Fourth Industrial Revolution”. Data science addresses the growing need of online businesses to rely on data to acquire new customers and retain existing ones. Every single click on the internet generates data. Data science techniques help e-commerce businesses make sense of this data with the help of machine learning algorithms. Data science involves proficiently using underlying fields such as statistics, mathematics, and programming to develop an understanding of trends and patterns in structured and unstructured data. This data is deciphered into actions for defining customer acquisition and

  2. retention strategies by e-commerce businesses. The insights on user behavior provided by analytics help target the right set of customers since increasing conversion propensity is the bottom line for e-commerce businesses. Here are a few key e-commerce data science projects enabling e-commerce platforms to deliver unmatched user experience (UX); and increase customer conversion and retention. Read more

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