The 8 eCommerce Trends That Will Dominate 2018
6. Big Data and Analytics
Big data and analytics is transforming all sorts of industries, including eCommerce. Nearly every action that users take online can be translated into some sort of data, much of which can be used, after analyzing, to optimize eCommerce sites.
Big data analytics can help you predict demand, personalize customer experiences and optimize your pricing to increase sales. This is crucial because just a 1% increase in price leads to an average 8.7% increase in profits, but 30% of pricing decisions fall short of the best possible price.