Transform Your E-Commerce Business With AI

Transform Your E-Commerce Business With AI

Artificial Intelligence has come a long way. From being an alienatic term in sci-fi movies to now being a part of our everyday life, AI has paved its way into the mainstream tech work, quietly yet effectively. It does work that we do not pay heaps of attention, to in a way that we never could, and yet we take it all for granted.

Any industry or business-type you look around, in one way or the other has been transformed for good by the implementation of artificial intelligence. The world of e-commerce has emerged as the biggest beneficiary of the increasing use of technologies like artificial intelligence and machine learning. AI not only has added a personal touch to our online shopping experience but has transformed the way the e-commerce platforms of the modern world trade. AI in the world of e-commerce is significantly improving the overall buying-selling experience for the modern online shoppers and it’s about time you use it to transform your e-commerce business too.

Trust us, it’s a lot easier than it sounds.

And to make it even easier for you, we have listed four key areas where the use of AI can transform your e-commerce transactions in entirety. So, let’s dive in.

Customer Support With Bots

Bots and e-commerce go hand in hand. So, how can we not discuss AI without talking about bots? Bots have always been the cooler side of online shopping. But with the help of artificial intelligence, these standard customer bots have evolved into a lot more personalized shopping assistants.

The bots that you see on the homepage of any e-commerce website or app are nothing but AI-based computer programs that have been programmed to interact with you in a personalized and helpful manner. They can help you navigate through the website with absolute ease, they can help you find the product you are looking for, the product availability, and might even help you compare multiple products at once to make a smart shopping decision. The use cases in which a chatbot can be used on your website is only limited by your imagination. If there is a use case where you feel a bot can be implemented to improve the online shopping experience for your customers, it probably can.

Furthermore, if the customers are not happy interacting with the bots, they can also be used to help customers connect with a real person in case they need any help or have any query that can only be answered by a human. These bots can be customized to interact with the customers via text, voice, or in some cases even through a virtual avatar. You can automate so many of your e-commerce operations without even employing manual labor. It not only will improve the efficiency of your business, but also will improve your relationship with your customers.

Predictive sales

Artificial Intelligence algorithms can further be employed for statistical programming, deep learning, and predictive analysis of huge data chunks, which every major e-commerce player these days have. These techniques are used for companies to understand customer behavior and can tailor their product and services to match consumer behavior.

One fine example of studying the customer behavior and offering a product based on the customer behavior is the popular show House of Cards, on Netflix. Netflix applied AI learning techniques on datasets from the most-watched TV shows by a majority of the viewers and tah-dah, we got House of Cards.

Techniques like predictive sales can also help any business significantly in managing and organizing the warehouse inventory to make sure that the business does on run short on the product during the crunch hours. It maintains a smooth flow of supply and demand and keeps your business always relevant.

Product Recommendation Engine

All the major tech-based e-commerce platforms including the likes of Amazon use product recommendation engines to suggest products to their customers based on their recent activity on their platform. These product recommendation engines use data sets like recent search by the customers, their browsing history, and the past purchase history to predict the products that might be of the interest for the customers.

The AI algorithms generate the most appropriate recommendations to the customers and display the recommendations to the user. This helps the customer find the products of their choice a lot easier and in a more accurate manner. Customers can even add these products to their dashboard for future or can set an alert for the product for when there is a price drop.

Automating The Warehouse

One of the most important components of modern e-tail industry is warehouse operations. A smooth and fast operating warehouse can significantly boost the sales for any business. This is why modern businesses are using AI algorithms to automate their warehouse processes, such as parcel sorting, categorizing, and packaging to smoothen their warehouse operations and boost their sales. The higher speed and efficiency of these AI based sorting mechanisms helps the businesses maintain a fixed delivery schedule and significantly boosts customer satisfaction, which consequently lifts the sales figure for the businesses.

Finally, while we have listed only four ways in which you can transform your e-commerce business using artificial intelligence, the scalability of AI is only growing with every passing day and you can use it significantly to transform your business to meet the modern needs and offer a lot more personalized and secure business option to your customers. ')}

A Primer On Big Data & Artificial Intelligence

A Primer On Big Data & Artificial Intelligence

Big Data and Artificial Intelligence are two buzzwords that keep making their appearance even in everyday conversation these days. Statements like “data is the new oil” and that “artificial intelligence is the future”abound in the tech circle.

From Facebook to Amazon and Google to Microsoft, every major tech giant is investing inordinately in big data and artificial intelligence.

In one of his statements back in 2016, Google’s CEO Sundar Pichai said,

The last 10 years have been about building a world that is mobile-first. In the next 10 years, we will shift to a world that is AI-first.

When you hear statements like that, you tend to take note of it. Now, despite of the buzz around big data and artificial intelligence, the difference between the two is rather murky for a major chunk. A lot of executives around the world still pit AI against Big Data, which although is a common mistake as the two go hand in hand, but they, in fact are two different tools.

Thus, it is critical to understand the difference between AI and Big Data.

AI & Big Data: Different Tools To Achieve The Same Task

Simply put, Big Data is the huge dump of unstructured data in the form of sounds, texts, images, transactions, messages, social networks, videos, etc. Artificial intelligence, on the other hand, is the science of computer programmes, which process that huge chunk of data and gives a structured pattern or output. This is the inherent difference between the two.

Breaking it down further, we can define artificial intelligence as a form of data computation, which gives a structured and detailed analysis of the data set fed to it. Some ways in which AI accomplishes the data analytics are:

  • Natural language processing (NLP): Understanding the human language and interpreting it accordingly.
  • Computer vision: Image processing using technologies like Tensor Flow to give computers the ability to identify, see, and recognize images just like humans.
  • Machine learning: Using statistical techniques to help computers ‘learn & process’ the data are given, instead of being programmed for an explicit function.

All of the aforementioned technologies allows the computer to execute cognitive functions like analyzing and reacting to the data set just the way humans do. One can argue that that is exactly what the traditional computer apps do too, and they will be right. Although, in case of traditional computers the reactions and responses from the computer are being hand-coded, which when you are dealing with big data is just not possible and in case of even the slightest of a curve like an unexpected entry, the traditional app fails. The AI systems, on the other hand, adapt to the change and accommodate the change in modifying the output. The purpose of AI is to evolve the computer functions up to the levels of human knowledge by giving them the ability to learn, reason, and then apply all of it for problem-solving.

Now the question is, how does all of it happen? And the answer to that lies in Big Data.

Big Data – The fuel for AI

Artificial Intelligence has been discussed at length since the ’90s. One fine example of it is its cinematic mention in the movie “The Matrix” in the year 1999. Humans combating with the machines that have developed their own intelligence, that’s AI for you in the nutshell. However, when it came to execution, AI was still a rather edging technology until in recent times.

The big bang in the world of artificial intelligence occurred with the dawn of huge parallel processors, to be very precise, the GPUs (Graphics Processing Unit). These GPUs are colossal processing units containing thousands of cores as opposed to the mere dozen in your traditional CPUs (Central Processing Unit). All those cores gave enough juice to the existing AI algorithms to carry out massive operations with absolute ease and made them viable.

These processors, when fed with the Big Data, allowed machine learning algorithms to assimilate and deduce a pattern or reproduce a behavior. It is worth mentioning that artificial intelligence, for all its intelligence, still can not deduce patterns and behaviors like we humans do. It acquires its intelligence through trial and error, and for that to happen successfully it entails big data.

One of the key reasons why AI apps of the past were not as effective or efficient as the ones we have now is due to the lack of data set. But now with a huge volume of data available with the organizations and faster processors, AI apps are thriving in every walk of life. The widespread access to the internet has also allowed for the real-time data to be fed to these processors for real-time processing and generating the output.

The self-learning ability of artificial intelligence enables them to extract the answers to all your questions from the data fed to it. It makes data an intellectual property and if you have the best data set in the world, even if everyone is using artificial intelligence, you will come on top. So, it will not be an exaggeration to say that, there will be no Artificial Intelligence without Big Data.

AI and Big Data Together

It’s safe to say that Artificial Intelligent (AI) needs big data to thrive. The better the data, the more effective your AI analysis will be as it can learn and evolve. Big data enables Artificial Intelligent (AI) to do wonders. So, you can say that there will be no artificial intelligence without big data.

From being deemed as a revolution to be called as a curse, AI and Big Data both have had their fair share of accolades and criticism. But whether you see them as technological developments that will change the future for mankind or a blossoming catastrophe, we will only find out in the future. ')}

AI and Hyper-Personalization

AI and Hyper-Personalization

For many, the age of personalization in the field of advertisement and marketing began when they first got the mail that was addressed as “Dear Marry” as opposed to an anonymous greeting like “Dear Sir”. To an extent they are right. Many of us in the world of advertisement and marketing woke up to the power of personalization with the significant success of personalized campaigns as opposed to the generic ones. Since then, consumers have been bombarded with hundreds of promotional messages on a daily basis.

As a result, the consumers have lost the interest and excitement that they once had for such personalized emails and campaigns. It has made it harder for the brands to engage with their consumers on a personal level. Marketers all over the world are working to find an effective solution to all of that and they might have found one in Artificial Intelligence. With the monumental rise of artificial intelligence and machine learning in recent years, their implementation in pretty much every field has been groundbreaking. So, why not marketing?

Now, as we all know, data is at the core of it all. To make an AI implementation work for you, you need big sets of data. The bigger the data set, the more relevant and useful information will we be able to extract. While this marks the beginning of a totally new marketing approach – Hyper-Personalization, it is the end of the road for the segmentation approach. And from the looks of it, hyper-personalization is the way forward.

So, let’s take a closer look at the Artificial Intelligence-Based Hyper-Personalization and how it changes the conventional marketing techniques we’ve all grown up on.

The emergence of big data

Data is the new oil” we all have come across statements like this more often than we care to count. Mostly in recent times. This significant rise of big data and companies capitalizing on it is the biggest factor behind the meteoric influence of technologies like machine learning and artificial intelligence in every field. The machine learning algorithms, when running through a huge set of data sets, can draw patterns and conclusions in minutes, for which the human brain will need years. It computes consumer behaviors such as their likes, dislikes, their shopping pattern etc making it easier for the marketers to target the consumers.

The feedback loop

One important part of hyper-personalizing the online marketing campaigns is constantly tweaking the consumer details after every campaign. This is done through a feedback look, which is a part of Artificial Intelligences’  self-learning. In simple terms, a feedback look is a simple process which constantly gives feedback on the decisions made by the system. Based on the feedback the AI system learns whether the decisions made were right or not and if they need any tweaking. Depending on the outcome the algorithm is smart enough to tweak itself according to the new data to help marketing teams.

Understanding the difference between Personalization and Hyper-Personalization and

It’s easy to confuse personalization with hyper-personalization if you are just starting in the world of AI. However, they both are totally different. While personalization deals with the personal and transactional data like name, purchase history, and basic profile details, the hyper-personalization is all about the behavioral data in real time.

To help you understand hyper-personalization better, let’s take the example of an online shopping website. You sign up with them, you search for products there, you spend hours finding the right product and then you finally place the order. Now all of those actions you took becomes the data point for that particular website. Now they know your name, search query, your purchase history, and brand affinity etc, an average spend amount, etc. They can use all that information to create a profile for you for a very personalized email, which will only feature things that you like.

Why Hyper-Personalization?

Studies have found the hyper-personalized campaigns to be almost twice as successful as the general campaigns. In fact, in the world of e-Commerce, it amounts for the 60% higher conversion rates as opposed to the normal campaigns.

The best thing is that hyper-personalization not only helps the brands, but it incentivizes the brands as well. The consumers are now able to find deals and products at better prices and just in time of need. They get the promotional campaigns for the products that interest them as opposed to a whole gamut of products that might not be relevant to them. It’s a win-win for all.

Finally, with artificial intelligence being the driving force behind the e-commerce world, technologies like hyper-personalization are bound to make marketing a lot effective. So, if you are looking to leverage the power of artificial intelligence for your business, listing it on product discovery platform like Taglr, is a smart step forward. ')}

Get your e-commerce business ready for 2019

Get your e-commerce business ready for 2019

What works today, might not work tomorrow!

This can be said about pretty much everything around us. And marketing is no exception. Whether you run a successful e-commerce store or are just starting into the world of online shopping, you must make a note of it. The marketing trend in the modern technology-driven world changes even before you notice them. This is why the big organizations or the successful e-commerce stores make sure that they are updated with the changing marketing trends and adapting accordingly.

Adapting to the new changing trends and experimenting with them is the way forward for businesses online and offline. If you want to drive profit to your business, you must stay updated on the changing online marketing trends.

In the year 2018, we have already heard about data analytics, machine learning, artificial intelligence etc. And while we will continue to hear about them in 2019, some other terms that you will eventually encounter include the likes of influencer marketing, augmented reality, virtual reality, and a wide range of advertising and marketing possibilities. But not all of them will have an instant impact and you will still have to wait for a year or so to see them in full action.

Some practical ones though, which will have a significant effect on the e-commerce marketing world we will be discussing today. You might have heard of them before, but if you have not started using them for the greater good of your business, you should start now.

So let’s get started.

Website Performance

Website development and designing are the first steps every business takes after deciding to go online. Unless you list your business on product discovery platform like Taglr. And while the website development and maintenance comes under the technical department, with a programmer and a designer, a lot of decisions regarding the website are taken by the marketing team. The content, the SEO (search engine optimization), the flow of the website, the layout, and many other parameters are being decided by the marketing team.

However, at times while making those marketing decisions, the technical aspects like sites loading time gets overlooked. And in 2019, that could be disastrous for your business. According to recent studies by Google, the average webpage load time on mobile is 22 seconds, which when compared to the 3-second attention span of the user is huge. And if you don’t address it, it can have a huge impact on the performance of your business.

In the recent Google SEO updates, Google has made the website load speed a ranking factor. This is the reason why all the major e-commerce websites have improved their websites, web apps, and developed accelerated mobile pages. And we suggest you should too.

Voice Search

According to the recent studies, the future of search is Voice. In coming few years we will see a significant growth in the voice search across all devices. And we can see it happening as we speak with the significant development in the voice technology. Devices like Google Home, Amazon’s Alexa have already made their way into our drawing rooms and many others will soon follow their footsteps.

So, when the future of search is voice, it’s important that you not only optimize your business for text search but also for the voice. The use of NLP (natural language processing) can help you in optimizing your business for voice search. And like always if you start early, you will certainly reap the benefits ahead of your peers.

Content Marketing

Amid the talks of all the technological developments taking over the marketing sphere it’s easy to overlook the fact that content marketing still is the most powerful and rather new phenomenon. Content marketing has evolved from just one way communication from the brands with the consumers to a powerful doorway to connect and build relationships with the consumers.

Some of the most successful marketing campaigns of recent times are the ones where the brands have established a relationship with their customers and capitalized on that bond. Having a strong content marketing strategy helps e-commerce businesses engage with customers on a more personal level and ultimately turn that into a business relationship with assured success.

The year 2019 will see further growth in the field of content marketing and while it might not be a new trend, it will still be on the rise and will be a good weapon to have in your arsenal.

These are just three of trends that you need to keep your eye on in 2019 if you are looking to boost the visibility and profit margins for your business. We will continue posting many such trends that will help you grow your space, so keep watching this space. ')}

Let’s simplify online shopping

Let's Simplify Online Shopping

Online Shopping – as fun and exciting it may sound, it is a painstaking task too. For every product you want, there are hundreds of sellers, platforms, variants, and not to mention discounts floating around. One simple search could bring you ample options to browse through the whole day and yet end up not buying. As a result, more often than not, you develop a loyalty to a certain platform, to a certain seller, or to a certain discount period for your shopping needs. You stick to routine every time you do product hunting online. And while all that is great, there are chances of you missing out on a better alternative on a different platform. All you need is just a tad more time on research or a platform that will do the dirty work for you.

That’s online shopping from the shopper’s point of view.

Now, let’s see the seller’s point of view.

In the widespread web, there’s immense competition on every “search query.” For every search query, there are millions of results, some relevant, some not so. But when it comes to online shopping, the competition gets fierce, as here while most of the results are relevant, not every result gets the desired attention. As a result, some businesses flourish and establish themselves as the industry leader, while some just strive to remain relevant.

But is online shopping as complicated as we discussed above?

The answer to that will be “No.”

Though, not every business or shopper understands that. So, we decided to simplify online shopping for you all.

In here, we will discuss some key points that not only will help the shoppers pick the best platform to shop from, but also will help the sellers reinvent themselves and reap the benefits of their years of hard work.

So let’s get started.

Understand the shopper(s)

The most crucial thing for the modern businesses is to understand their customers/users. The same is applicable to the customers/users too. They need to find the business that understands them best. A business must address the need of the user in the most efficient manner possible. Understanding what the user is looking for and providing them precisely with that will go a long way in establishing a bond with the user.

In the current times when everything we search, say, or do is getting turned into data, it’s of utmost importance for the businesses to use that data for greater business gains. A lot of modern users still use the traditional feedback collection as means to improve their services. While the big e-commerce giants use data to analyze the customer behavior, their buying pattern, their interests, their likes and dislikes to tailor their services. As a result, they connect with the user right from the first click on the platform.

Now, analyzing data and using data for business gains might sound a lot of tech work or something for the tech-savvy retailers, but that’s not true in current times. With a platform like Taglr, you not only can collect all the relevant data about the customer behavior but can also use it to tailor your services according to the customer(s).

Personalize your offerings

Personalization is a sure way of winning over a customer right from the first visit. As mentioned above, in the widespread web finding the right product could be a daunting task, add it that seeing different products, sellers, websites every time you go on the internet and you have in hand a confused-least-likely-to-shop-customer.

Hence it is very important that the retailers personalize their service as much as they can. There are recommendation engines which gives product suggestions based on the user’s buying history, the last page they visited, the last category they visited etc. All of this helps the user in making the buying decision without wondering here and there.

It not only will help the shopper make a clear buying decision, but also will help the seller streamline the online shopping on their platform. And Taglr can help both, the shopper and the seller in doing so with its powerful recommendation engine. Taglr makes product search more efficient by using big data analytics to understand the shopper behavior, the shopping patterns and the interest of the shopper all at once.

AI-assisted shopping experience

In every online shopping experience there comes a time when the shopper will either forget to edit their shopping cart or will forget a product or two that they should’ve added while they were shopping and not while checking out. This not only will cut down the check out time, but also will provide a more comprehensive shopping experience.

This is where the introduction of Artificial Intelligence in the world of online shopping comes into play. The AI algorithm identifies the products that are in general bought together or are bought before or after a certain product and once the user adds any product to their cart the algorithm modifies the suggested product list to help the shopper continue shopping without doing a fresh product search. As a result, the customer gets all the products he/she needs on one page as opposed to opening a new window for every product or doing a fresh product search. It’s a win-win situation for both the retailer and the shopper.

Conclusion

These simple yet efficient ways in current online shopping age could be the deciding factor between a successful online business and a business just trying everything to get the attention of one user at a time.

At Taglr, we are trying to offer a complete suite of all such features that not only will simply online shopping for the shoppers but also will help the businesses achieve their business goals with minimum efforts. So, if you still think online shopping is a complicated and confusing process to go through, let us simplify it for you. ')}