OCTOBER - 2021retailtechinsights.com8In my opInIonAs more consumers are relying on e-commerce platforms for purchasing their groceries, home decor, electronics and more, matured platforms are collecting data to understand customer behavior and leverage it to generate insights that help improve customer experience leading to higher short term purchase rate, long term customer loyalty and eventually higher market share. Millions of active and engaged customers browsing hundreds of products during their purchase cycle, generates petabytes of data capturing what customers are looking for, how they are finding it and more importantly what's preventing them from making that purchase at that moment; it could range from product selection, pricing, what other customers are saying about the quality of product in the reviews, how quickly it will it be delivered, is the website intuitive to navigate and so on. Data and insights backed decisions could really be a strategic advantage if envisioned and executed right. Most startups, including Wayfair, start with a hybrid team with a group of business intelligence experts who do a bit of everything, ranging from managing infrastructure/ ETLs, building appropriate CRITICAL ELEMENTS OF A DATA DRIVEN PRODUCT ORGANIZATION IN E-COMMERCEBy Ankit Mangal, Director, Advanced Analytics and Insights, Wayfair
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