Businesses that are scrambling to keep up with the quickly changing e-commerce world are turning to big data and analytics as important, if not primary tools. Collect enough data and apply complex analytical methods to it, the story goes, and you will find the answers you need to understand today and plan for tomorrow.
We’ve given these tools catchy names. Big Data Analytics (BDA) has an authoritative ring -- but the underlying disciplines haven’t changed in decades. Whatever we call it, analysis involves sampling what’s happening now and using statistical methods to derive trends that allow us to make changes to improve our results. If it doesn’t do that, it isn’t worth much.
In a BDA world, you grab every piece of data you can from your commerce, Web-based and otherwise, and then apply statistical techniques to it to tell you why your customers behave as they do and what they are likely to do if you change your approach.
What could be the problem?