The science of data in digital commerce
Ever wonder how commercial sites know what you might like?
Boomers and generation X may be frightened by the technological alchemy. Most millennials (that’s Gen Y and Gen Z) aren’t, because this is their normal.
For them, the technological alchemy is just structured databases and algorithms running in the background of whichever site you’re on. And a lot of businesses don’t realise that they can harness the same power and yield, respectively, similar or lockstep results as larger organisations. They are thinking like boomers while the market is increasingly becoming millennial.
Data science and AI have been the driving force behind the proliferation of digital commerce. The ability to predict purchases, profits, losses and even nudge customers into buying additional products based on their behaviour are necessary tools in the arsenal of the modern-day business looking to stay competitive. Moreover, these reseller tools can help position the market and assist customers in gaining a continued competitive advantage.
These tools will help organisations create contextual profiles of customers, and the profiles enable organisations to serve customers better and drive customer loyalty, and by extension, increase revenue.
Digital commerce, as the pandemic has revealed, is the new normal. The purpose of data science and AI in the retail space is to give customers personalised experiences, and for the retailer to make digitally informed decisions. Previously, only a few privileged large enterprises had access to the data, but with digital transformation the world is currently experiencing and at this trajectory, the laggards will soon be outdated, outplayed and outsold.
Making the information accessible to small and medium businesses. Large vendors like IBM, Oracle, Cisco and HPE all have analytics tools and AI product offerings that can change any business, at literally anytime.
Depending on the needs, wants and preferences of the client, an organisation can have a flexible, secure, scalable and automated strategic, operations and marketing enhancing tool to make their business data-driven. All these insights are generated in mere minutes of practical application. Our job as Axiz is to not only distil and promote the salient value points of vendor product offerings to the local market, but help partners position, sell and distribute these to empower businesses to adopt emergent technologies, no matter their size.
Almost every business has a digital transformation roadmap, and it should include the use of data analytics on a digital platform. Data analytics is all about improving relationships with customers and being able to run multiple functions of the business in a manner that promotes customer retention and longevity. You, as a partner, have an obligation to your customer to enhance their go-to-market strategy and, more importantly, their client’s user experience. Axiz can help guide you on your chosen path. We achieve this through our years of experience and our investment in forward-looking technologies from vendors that are second to none. It’s what we call being channel scientists.