Amazon has revealed its strategic initiatives for the next couple of years which include developing tools and toolsets to help consumers across the business community. Amazon uses big data to run efficiently in a highly competitive and fast-changing e-commerce environment in which online advertising and price dominate. Leading companies such as ESPN have also got onto the big data wagon. Top sports brand Nike Leverages big data analytics to produce dynamic, environmental designs for its products.
The company is also working on data systems using natural language processing, text processing tools and an artificial intelligence web application called Amazon Web Services (AWS). Data from these web applications will help it improve its algorithms for predicting what customers want to buy, when they want to buy and how much they are willing to spend. Amazon uses its predictive analytics system to make smart buying decisions and sell items that are in high demand at the best prices. It is also using big-data analytics to monitor customer satisfaction levels and trend data for making its product offerings more attractive to customers. Amazon has also developed its own predictive shipping model that helps it manage its supply chain.
Amazon has developed its own application called Eaze which provides an online shopping experience using an intuitive and easy to use interface. It offers a complete range of consumer and specialty goods, combined with the ability to earn commission through its marketplace partner merchants. Its other applications include its integrated digital marketing services, its in-game and social shopping options, its mobile phones, tablets and televisions, its web store and its digital photo products. The company’s foray into the cloud computing market is its bid to be the number one eCommerce platform in the world.
To understand how Amazon uses big data applications, it is important to understand how eCommerce works. Retail stores rely on recommendations from their customers to purchase the products they want. Ecommerce websites make use of web-based tools that help it build an interactive website based on user activities. These tools make use of the recommendation technology provided by Amazon Web Services (AWS) and combine it with complex algorithms and artificial intelligence techniques. This approach enables the system to generate more targeted traffic, resulting in more sales. For example, when a visitor enters a search term and clicks the ‘buy’ button, Amazon’s Eaze system will analyze the browsing history of the visitor and compare it to similar searches conducted by its partners to make an accurate recommendation.
The major benefits of using this approach include faster and better product sales. Since users can browse through similar products without having to spend time in researching similar products, they will most likely spend more than if they were to search for the same product using traditional methods. Since users are not limited to what they can see on the screen, the result will be faster search results and a more efficient buying process overall. As a result, the company can provide better services to its customers in terms of fast delivery and personalized customer service.
Amazon also leveraged its own e-commerce architecture to create its own tool, called the Amazon Payments Processes, or AMP. The AMP is a standardized payment gateway that provides a flexible method of payment for online shopping. It eliminates the need for customers to carry cash, therefore decreasing the risk of fraud and improving customer security. The AMP allows for secure credit card transactions, which further reduces costs for online shopping companies.
The final piece of information about how Amazon uses big data to improve its e-commerce platform relates to its dynamic pricing. Dynamic pricing refers to charging different prices at different times based on the observed traffic. This method makes use of complex algorithms in order to detect the right time to charge products. Amazon has made its AMP open for developers interested in making their e-commerce websites dynamic. The Amazon Payments Processes has been developed by Jambool, a London-based developer.
The information about how Amazon uses big data to improve its e-commerce platforms comes from Amazon’s own website. The website explains in detail how the e-commerce company utilizes predictive analytics in order to provide its customers with the best experience possible. The website states that it continually seeks to improve its e-business tools and services. By combining technological innovation and massive research investments, Amazon seeks to provide its customers with the best online shopping experience possible. In short, Amazon uses big data to make e-commerce more effective and profitable.