What is AI Driven AI in ECommerce

Posted by Monis Khan on Sep 17, 2019 11:59:38 AM

There are two kinds of people who are at the center of ECommerce company's operations. They are technology experts and those who are good at the domain of the particular ECommerce line of business. As ECommerce businesses evolved over the last decade ECommerce companies started seeing the value of data. To leverage the value of data to its full potential ECommerce, companies need to have data science experts on their team. Data scientists are expensive and also take more time to demonstrate results than acceptable in a typical ECommerce SMB culture. So the critical question has been how to adopt data-driven decision making in ECommerce without having the data science skillset?

Read More

Tags: Dation Platform, Datoin Platform, AI, Machine Learning, ecommerce, onlineshopping, product recommendation engine, dynamic pricing, demand forecasting techniques, how to retain customers, customer retention rate ecommerce, customer retention app, customer retention chart, average customer retention rate in ecommerce, retention rate, customer retention metrics ecommerce, ecommerce retention metrics, customer retention tactics, customer retention tools, predict discount, fake reviews

Future of SMB ECommerce Using AI to do AI

Posted by Monis Khan on Sep 14, 2019 9:59:12 AM

Small and medium-sized ECommerce businesses are looking towards AI and machine learning as a means to make more profits in a less margin business. Gartner predicts, “By 2022, at least 5% of digital commerce orders will be predicted and initiated by AI”. 80% of all customer interactions in ECommerce will be handled by artificial intelligence. The key reason why artificial intelligence and machine learning is more relevant for ECommerce is ECommerce by design is a volume-based business. A volume-based company brings along immense volume and variety of business data. This data can’t be analyzed manually to make smarter business decisions. In the cluttered ECommerce space, the more intelligent business decision will decide the fate of the business in the long run.

Read More

Tags: Dation Platform, Datoin Platform, AI, Machine Learning, ecommerce, onlineshopping, product recommendation engine, dynamic pricing, demand forecasting techniques, how to retain customers, customer retention rate ecommerce, customer retention app, customer retention chart, average customer retention rate in ecommerce, retention rate, customer retention metrics ecommerce, ecommerce retention metrics, customer retention tactics, customer retention tools, predict discount, fake reviews

How to Retain Customers Using AI in ECommerce

Posted by Monis Khan on Aug 23, 2019 5:43:57 PM

Customer retention is one of the significant causes of concern for ECommerce companies. Most ECommerce companies would invest a considerable amount of money in acquiring new customers only to see them never purchase again. The customer churn is like a hole in the bucket of business. The ECommerce business owners are trying their best to fill the bucket with more and more new customers each day. But the hole at the bottom of the bucket keeps leaking out the customers. Learning customer behavior is vital to understand how to reduce churn. Artificial intelligence technologies can help ECommerce companies learn customer behavior and thereby, ways to reduce customer churn.

Read More

Tags: Dation Platform, Datoin Platform, AI, Machine Learning, ecommerce, onlineshopping, product recommendation engine, dynamic pricing, how to retain customers, customer retention rate ecommerce, customer retention app, customer retention chart, average customer retention rate in ecommerce, retention rate, customer retention metrics ecommerce, ecommerce retention metrics, customer retention tactics, customer retention tools

Benefits of Dynamic Pricing in ECommerce Using AI

Posted by Monis Khan on Aug 13, 2019 2:00:00 PM

To understand the concepts of ECommerce, it is always good to know how a particular situation applies in the physical world. So let's begin with an example. You are visiting a community store to buy, say shirts and trousers. You make your choices and start bargaining a deal. The store owner knows you from the past since you are quite a frequent visitor. Generally, the store owner would give away a discount of 10% on your total bill. However, today, you've come along with a friend who is visiting this store for the first time. The store owner gives an additional 5% off on seeing a new prospect with you. On further insisting to do the best price, the store owner gives you an offer, 20% flat discount, only if your total bill crosses $200. That makes the deal irresistible for you, and suddenly the friend also jumps in to buy with you. 

Read More

Tags: Dation Platform, Datoin Platform, AI, Machine Learning, ecommerce, onlineshopping, product recommendation engine, dynamic pricing

How to Predict Customer Churn Rate Using AI in ECommerce

Posted by Monis Khan on Aug 9, 2019 1:34:27 PM

Benefit of ECommerce business is the convenience of online buying and selling. However with this convenience comes the unpredictability of business in ECommerce. To stay relevant in this ever evolving ECommerce business space, the business owners have to employ advanced artificial intelligence solutions in ECommerce to stay in control of customer behavior and use that to generate incremental business. Future of AI in retail is bright considering the ROI driven use cases it serves.

Read More

Tags: Datoin Platform, AI, Machine Learning, Customer Churn, ecommerce, onlineshopping, subscription churn, subscriber churn rate, subscriber churn definition, subscription churn rate, product recommendation engine

What does AI Mean for an ECommerce Business

Posted by Monis Khan on Aug 1, 2019 12:06:24 PM

ECommerce is any commercial outfit that is selling their products or services online using a web portal and app. Some of these ECommerce companies could be product companies, while others are simply an aggregator platform. Irrespective of the business model, what is common among all ECommerce companies is that they all are generating a lot of data and serving millions of customers. Highly successful and heavily funded ECommerce companies are continuously investing in innovating their business models using artificial intelligence and machine learning. In the realm of the knowledge economy, no one can be left behind for the lack of their understanding of the subject such as AI or machine learning. So this article cuts the crap out of AI buzz and gets down to a few points that will help ECommerce companies to build their case around artificial intelligence solutions.

Read More

Tags: Datoin Platform, AI, Machine Learning, Customer Churn, Predictable Revenue, reducechurn, ecommerce, onlineshopping, subscriber churn rate calculation, subscriber churn analysis, subscription churn, subscriber churn rate, subscriber churn definition, subscriber churn reduce, subscriber churn analytics, subscription churn rate, product recommendation engine

How to Predict Subscriber Churn in ECommerce

Posted by Monis Khan on Jul 24, 2019 3:42:26 PM

ECommerce is about connecting with customers over electronic channels and conducting business online on the web portal. ECommerce inherently puts layers of the electronic channel between the customer and seller. These layers of technology often deprive the ECommerce business of the insights around why customers choose to buy and want to buy from them continuously. The ECommerce industry is suffering from the inability to identify, control, and manage the nuances of predictable business online. With the increased budgets on customer acquisition, the rate of subscriber churn is drastically rising day by day. The churn rate analysis in ECommerce is getting hampered due to unawareness about simple leading indicators of customer behavior.

Read More

Tags: Datoin Platform, AI, Machine Learning, Customer Churn, Predictable Revenue, reducechurn, ecommerce, onlineshopping, subscriber churn rate calculation, subscriber churn analysis, subscription churn, subscriber churn rate, subscriber churn definition, subscriber churn reduce, subscriber churn analytics, subscription churn rate

4 Steps To Predict Customer Churn in Skincare Industry Using AI

Posted by Monis Khan on Jul 17, 2019 4:31:46 PM

Skincare has always been a huge industry and will increase USD 45 billion between 2018-2023. It has increasingly become segregated, with as many as eight different categories of products. The popularity of trends like the 10-step Korean beauty regime costing around $200 has also led to a massive increase in sales. Besides mass-produced skin products, personalized skincare products are also popular. 

Read More

Tags: Datoin Platform, AI, Machine Learning, Customer Churn, Predictable Revenue, reducechurn, ecommerce, skincare, skincaresubscription, mysterybox

3 Steps to Build Predictable Revenue for Food Delivery Apps

Posted by Monis Khan on Jul 5, 2019 3:22:46 PM

An inevitable part of any business is identifying customers who are likely to continue and those who won't. Retaining customers who have a plethora of options can be a challenge. However, keeping existing customers happy is a better strategy than endlessly focusing on growing your base by acquiring new customers. Acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. 

Read More

Tags: Datoin Platform, AI, Machine Learning, Customer Churn, Predictable Revenue, reducechurn, ecommerce, Online Accounting, fooddeliveryapp, onlinefooddeliveryapp, foodapp, deliverapp

4 Strategies To Increase Customer Retention In Online Laundry Business

Posted by Monis Khan on Jul 2, 2019 4:09:53 PM

For every business development having a strong customer base is essential, and this means one needs to have a prolific customer engagement. Since traditional marketing methods are now becoming less relevant, and the effectiveness of any business is dependent on customer engagement, using new techniques and technologies is vital. Laundry and Dry Cleaning Business owners like any other business, need to retain their customers and increase their loyalty because customer engagement is the new currency. The online service charges the customers as per a package subscription that suits their needs. These packages may be varied depending on the type of services needed by the clients. Generally, the online accounting services companies target SMBs, and they target specifically for one function such as Online CA, Online CS, or Online Company Registration. For a new firm that registers using an online accounting services company is likely to see up-sell and cross-sell promotions of other services.

Read More

Tags: Datoin Platform, AI, Machine Learning, Customer Churn, Predictable Revenue, reducechurn, ecommerce, Online Laundry subscription, online laundry

About Datoin

Datoin is an enterprise automation platform which helps enterprises to automate their processes by leveraging enterprise's data, artificial intelligence, and component-based engineering. Although Datoin can be a generic platform for building any automation application, our focus is on artificial-intelligence driven business process automation. Currently, we are solving some of the automation problems in Customer Experience Management, CRM and Geo Analytics, etc.

Advantages of the platform:

  • Reduced software development cost(Because of building block re-use)
  • Faster application creation(Can create an application just by using GUI) 
  • Off-the-shelf blocks for data integrations and intelligence
  • Flexible deployment mode(Managed Cloud, On-Premise, Stand-alone app, Distributed App)

 

Subscribe to Email Updates

Recent Posts

Posts by Tag

see all

Interested in how can Datoin be useful to you?

Talk to Us