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.

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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. 

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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.

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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.

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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.

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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

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)

 

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