Data As An Enabler Of Ecommerce

If you want to provide an exceptional shopping experience, clients need to be aware that their payments are fervently secure. Big data analysis can recognize atypical spending behaviour and notify customers as it happens. Companies can set up instant alerts for various weird activities latched on to fraud, like a series of different purchases on the same credit card within a short time frame or even multiple payment methods coming from the same IP address from a gadget.?

Actually, many e-commerce websites now offer different payment methods on one significant platform. Furthermore, big data analysis can determine which payment methods work best for which clients, and can measure the effectiveness of new payment options like pay later. Some e-commerce sites have implemented an easy checkout experience to decrease the chances of an abandoned shopping cart.

Besides enabling customers to make secure, simple payments, big data can cultivate a more personalized shopping experience. The majority of consumers notify that personalization plays a vital role in their buying decisions. Youthful clients are especially interested in purchasing online, and assume they will receive personalized suggestions from a barrage of options.?

By using big data analytics, e-commerce companies can establish a circular view of the customer. This view allows e-commerce companies to segment customers based on their gender, location, and social media presence for a period of time. From this, firms can create and send emails with customized discounts and utilize different marketing strategies for different target audiences that speak directly to specific groups of consumers./customers.

While it is clear that foreign investment can play an important role in generating growth, it is also increasingly evident that countries cannot grow without a vibrant, domestic private sector. Ultimately, it is not foreign aid but rather privately generated profits which are the source of economic growth and poverty alleviation.

For indigenous firms, firm size is very important in determining trade credit access, as is the length of the nrelationship with suppliers. In the absence of good information on indigenous firms, suppliers use size as a proxy for information. Hence, only larger firms get credit. Smaller indigenous firms have to establish long-term relationships with each supplier to get credit. There is coordination failure in the indigenous African business community that inhibits firms from developing an informal credit information system analogous to the ethnic minority business community.