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Building an Effective E-Commerce Business Strategy with the Help of Web Mining and Text Analytics | Quantzig

The client is a leading e-commerce retailer based out of Germany. The retailer was looking at expanding its online product offerings by sifting through the massive datasets in their repository to find hidden patterns and uncover meaningful insights.

The Business Challenge

Today, it doesn’t matter if you run a business online or in the real world, all that matters is how efficiently you can analyze the gigantic troves of information to extract granular insights lying at your disposal. This is considered to be the barometer that determines the success ratio of pure-play e-commerce retailers. Owing to the data explosion and the impact of technological advancements in today’s world, businesses own huge volumes of datasets, which act as a valuable source of actionable insights.

Businesses collect trillions of bytes of data on customer transactions, suppliers, internal operations, and market competitors. Such datasets are predicted to grow in the coming years, due to which businesses are focusing on the incorporation of web mining solutions and text analytics to exploit the true potential of data. Penetrating deeply into the textual datasets by leveraging web mining solutions empowers retailers to gain a better understanding of customer’ sentiments around what they offer. As a result, customer experience sprints from the mundane to marvelous and customer loyalty gets a solid push along with revenues.

Request a FREE Demo to understand how Quantzig’s web mining solutions can empower your business to achieve accelerated growth and the desired process efficiencies.

Top Challenges Faced by the Client

The e-commerce boom has presented both challenges and new opportunities for retailers that are looking to expand globally by improving their online presence and expanding their digital footprint by leveraging web mining.

Problem Statement 1

The e-commerce retailer faced predicaments in collecting and analyzing the huge datasets spread across geographies and business units, owing to the unstructured nature of the datasets.

Problem Statement 2

The client found it challenging to extract insights from unstructured datasets related to business outcomes, sales, and suppliers. Being able to sift through the huge data repositories and structure the datasets in the form of intelligible information was challenging as the data existed in silos.

Problem Statement 3

Organizing the data in a structured manner and linking it with internal data proved to a major challenge that prevented the client from analyzing the user-generated content to optimize business decisions.

Unravel the True Potential of Web Data with Our Web Mining Solutions

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Solution Offered and Value Delivered

We followed a three-pronged approach to gain the desired insights for this web mining engagement.

Phase 1: Web data collection

The first phase of this web mining engagement revolved around collecting and documenting the available information. The gathered information was then analyzed and populated into desired formats to discover prevalent market trends, new opportunities, and drive sales while cutting down costs.

Phase 2: Discovering hidden patterns

The second phase of this web mining engagement focused on pattern discovery. The structured datasets were analyzed to understand the browsing behavior of online customers and to determine the success of their marketing efforts.

Phase 3: Analyzing the data patterns

The last phase of this web mining engagement focused on using the extracted insights to fine-tune product development, pricing strategies, and customer experience. This helped them offer incremental value to the shopper’s online experience, while achieving a remarkable 3X improvement in customer satisfaction rates.

Wonder how web mining can enhance your business strategy? Get in Touch with our experts.

Working hand-in-hand with the e-commerce retailer we gained a better understanding of their business processes and unique challenges. In line with this understanding, we put together a dedicated team of our web mining and text analytics experts who co-ordinated with their in-house team to completely transform their online business strategy. To drive down costs and compete better the ecommerce retailer had to leverage web mining, improve decision making, and develop new and innovative products to create new revenue streams, explore new markets, and better understand customer needs. Quantzig’s web mining and text analytics solutions offered the desired insights that helped the client to devise a new business strategy aimed at driving revenue from online channels.

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Though e-commerce retailers have come a long way, the absence of in-person interaction is the only area where they still taste defeat at the hands of brick-and-mortar retailing. The only way to inflict a fitting counterblow is to transform the online customer experience through analytics-driven, data-backed decisions.

What are the different types of web mining?

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Web Mining: A Key to Boost Your Business on Web

What is Web Mining?

When data mining techniques are applied to web data to identify useful patterns, it is called web mining. Web mining integrates the information collected from world wide web and information fetched from data mining techniques to quantify the success of a marketing campaign for any business. Web mining is one of the web analytics solutions that help organizations in analyzing the effectiveness of a specific website, understand consumer behaviour and competitors’ strategy efficiently. The information collected through web mining offers actionable insights into the web structure, content, and usage.

Types of Web Mining

Web Mining-Type #1: Web Content Mining

Web content mining aims at collecting multimedia documents such as video, images, and audio that are hyperlinked or embedded to the web pages. Web data mining deals with unstructured or semi-structured data and requires a creative approach to data mining techniques. In the last few years, the activities in the field of web content mining have expanded rapidly due to the exponential growth of data on the web. However, due to the lack of structure of web data and its heterogeneous nature poses several challenges in the web content mining process.

Web mining solutions can help in enhancing your website’s performance significantly. Request a FREE proposal now to know how!

Web Mining-Type #2: Web Structure Mining

Web structure mining aims at analyzing the link structure of the web and identifying more desirable documents. Web structure mining assist companies in identifying similarities between different websites. It aims at generating a structural summary about the web page and the website. The main aim of web structure mining is to focus on the inner-document structure as well as on the structure of the hyperlinks at the inter-document level. Web structure mining uses topology of hyperlinks to categorize and deliver information on the relationship and similarities between multiple websites.  

Web Mining-Type #3: Web Usage Mining

Web usage mining aims at predicting the behaviour of users while they interact with the world wide web. It helps in discovering the navigation patterns of users. Also, it fetches useful information from the user interactions on the web that further helps in understanding consumer behaviour and buying patterns. Furthermore, such insights can help in providing personalized services, site modification, and overall system improvement.

Request a FREE demo to find out how our customized analytics dashboards can help you categorize your web pages and offer personalized services to your users.

Advantages of Web Mining Solutions

Benefit #1: Improves business on the web

Web mining helps in analyzing click-stream data and unveiling e-business opportunities in real-time. It aids in targeting the right customers at the right time by understanding their needs. Also, web mining solutions help in customizing services according to customers demand which further helps in improving marketing strategies. Furthermore, web mining solutions help in improving the effectiveness of a website by offering what users want at the right time.

Web crawling and text mining solutions can help in improving cross-selling opportunities. Want to know how? Read our latest success story here:

Web Crawling and Text Mining Engagement for A Leading Digital Media Industry Player Helps in Increasing Cross-Selling Opportunities

Benefit #2: Helps in analyzing customer behaviour 

By leveraging web mining solutions, companies can understand and analyze several concerns such as the relationship between customer’s present and past behaviour and their loyalty towards the website. Analyzing customer-centric web behaviour can be helpful for companies in improving the website segmentation based on customer behaviour and preferences. Also, it can help in offering personalized services to customers. Furthermore, web mining guides in predicting customer’s future behaviour which is very important for a website’s future content design and planning.

Are you finding it difficult to analyze the effectiveness of company communications and customer interactions on the world wide web? Web analytics solutions may hold the key to success. Get in touch with our experts.

Benefit #3: Assists in analyzing proxy servers

Web mining has the ability to help in identifying user behaviour on a particular website. Businesses can leverage web mining solutions to perform investigations on their own website and can yield actionable insights into the needs of users and accommodate them. But apart from this, what is equally important is analyzing a user’s behaviour on the proxy servers. Web mining can efficiently do this and can help in generating an overview of customer behaviour on the internet.

Quantzig’s Advantage

Businesses that run online receive heavy traffic on a daily basis and the immense volume of continuous data makes it extremely challenging for businesses to track their visitors and analyze website statistics, potential consumers, and prospective buyers. Quantzig’s data analytics services and web mining solutions help companies in managing large volumes of web data and set up customized dashboards to derive real-time insights to facilitate data-driven decisions. Quantzig’s data analytics solutions provide companies with the required technologies, capabilities, and frameworks to handle the sheer volume and variety of data while ensuring privacy and security of information. Quantzig with leading data-governance practices deliver best-in-class frameworks for data visualization and multi-dimensional data aggregation that further helps in better insight generation.