The world that we know today witnessed a complete shift-over in every aspect of web usage, in the last decade or two. The web simply web “social”. The number of internet users increased drastically in the recent years and the market for e-commerce skyrocketed. According to statista.com-“Current e-commerce statistics state that 40 percent of worldwide internet users have bought products or goods online via desktop, mobile, tablet or other online devices. This amounts to more than 1 billion online buyers and is projected to continuously grow”. The crave for converting a visitor to a customer in today’s highly competitive e-market has brought the utter need for real time business-intelligence. This is where Big Data kicks in, bringing with it the vast reserve of valuable information, ready to be mined and analysed. Any corporation, who ignores the role of Data in driving their business, not only fails to adapt to customer’s varying needs but also misses on a huge opportunity to get deep and crucial insights about their business.
Users today always look out for websites offering effective personalized services in the most real-time nature possible. These have a significant impact on the Conversion ratio of the e-commerce websites as well as the nature and size of its user-base. Providing such personalized services calls for acquiring, maintaining and processing huge amount of data about their users and about their products and services. Soon the data exceeds the barriers of the conventional ordinary processing units and requires specialized frameworks and set-up. That’s exactly when your data actually would be addressed as “Big Data”. As far as we are talking Big Data in the context of e-commerce, Click stream Log Data and User Profiles stand tall in the picture.
The question that tickles the brain cells of almost every CEO of a budding start-ups:“Is having a Big Data processing inventory really worth it “? Believe me the question is worth pondering over. However, the answer lies in the issue discussed above. Big Data is always relative. Knowing when to consider your data as Big Data and revamping your setup is more important than drooling the over the after effects of shifting over the Big Data platform. The bottom line is that in the 21st century, “If your business becomes successful”, and “if you want your business to be successful”, sooner or later you are going to need the Big Data gloves to stand the fight.
Sikhar Pandey is a passionate technologist, working as a Data Science Engineer at EMC Corporation based in Bangalore. I design algorithms and filed several patents as well. Working on new cutting edge technologies is in my DNA. I have won several hackathons as well. I really believe demystifying the buzz around Analytics and BigData and make useful solutions helping the end user.