Big data is changing the way we shop

Big data is making waves around the world in all aspects of business.

This is especially evident in retail and online retailers.

The tool of big data is something that businesses across the world realize they can utilize in order to research consumer buying behaviors, as well as for data analysis in order to benefit themselves. Big data has created many changes throughout the business world, and retail is no exception.

Here are some ways that big data has changed the way we shop.

It has changed the way marketing works

Big data has given businesses the ability to analyse data in order to see consumer buying behaviors. This allows marketing to be developed that directly targets certain demographics based on their buying habits. An example of this is if a consumer views an item online but decides not to purchase it, marketing advertisements can be targeted towards them based on that specific product, prompting them to buy the product.

More efficient and effective reporting

Before big data, many retailers would rely on out-of-date monthly reports on buying behaviors and statistics, which would make them miss their window of opportunity to market towards consumers. Big data delivers this information in real time, allowing retailers to capture these opportunities very quickly, and capitalize upon them. This ensures consumer demands are met and sales are not missed out on.

Logistics is easier for retailers

By being able to see what is being bought and what is in demand in real time, retailers are able to increase or decrease stock in accordance to this.

Thereby, logistics is much easier for retailers, being more effective and efficient in its operation.

In summary, big data has changed the business world, and especially so in the retail business world.

Zoe Drennan
Zoe Drennan is a local lifestyle writer and mental health educator based in Melbourne. Her articles about lifestyle and health have been featured in HuffPost, Allure, Bustle, Healthline, NYLON, The Salt Lake Tribune, and more. She sits on the board of Aia's Disability Law Center, as well as the National Harm Reduction Coalition. In recognition of her work as a journalist and advocate, Zoe was the recipient of the Substance Abuse and Mental Health Services Administration's Young Adult Leadership Voice Award in 2019.

More from author

Related posts

Latest posts

4 best types of earrings for a party

Earrings have been one of the most essential accessories for centuries. They are known for their versatility and range as there is no limit...

Reliance Beta-testing ‘Jio SecureID’ Digital Sign-in System: Report

Reliance Jio is believed to be working on a new sign-in system as part of its efforts to create a secure digital authentication and authorization...

Are media streaming platforms are better than cable TV?

Media streaming platforms such as Netflix, Stan and the like have risen in popularity not only in Australia, but across the world. Netflix originally...

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!