Big data analytics transforming ecommerce business models

DUBAI, UAE - Jan. 29, 2020 - PRLog -- With the permeation of technology, consumers are leaving digital footprints as they shop online, giving retailers a repository of data to work with. Ecommerce constitutes a large portion of the retail sales with consumers opting to shop from ecommerce channels rather than brick and mortar stores. The ecommerce market in the Middle East region is growing at an unprecedented rate, with industry reports indicating MENA region to be the fastest growing region in the world for ecommerce, with an annual growth rate of 25% and UAE, in particular, is set to be on a high growth trajectory. It is currently positioned as MENA region's fast growing ecommerce market, closely followed by Saudi Arabia.

In light of this growing preference, ecommerce vendors are relying on analytics and data science to understand the shopping pattern of their customers, offer them personalized deals to ensure customer retention, drive sales and create a competitive edge. Retailers can use the critical data sourced from the past to effective use for predictive modeling, purchase intent modeling, and other critical insights that will make a significant impact on the business.

Most of the growth in retail is expected to come from online channels. Given the ecommerce market's burgeoning growth in the MENA region, a panel of subject matter experts at the upcoming Smart Data Summit will discuss how the contribution of analytics is crucial for increasing online revenue and the importance of predictive analytics in driving the growth of this industry. Furthermore, during the panel discussion, industry experts will delve deep on the metrics ecommerce marketers should be tracking and improving.

Jonathan Flender, Head of Digital, Mumzworld; Vivek Sahabadi, Head of Analytics and Data Science, Namshi; Neha Sood, Vice President of Online Ordering, Zomato; Theodore Khoury, Head of Analytics, Amazon; Zain Ikhlaq, Head of Analytics, MAF Carrefour and Louise Blake, VP – Data, Seera Group will participate in the panel discussion titled the impact of big data analytics in e-commerce at the seventh edition of this conference, taking place on 23-24 March 2020 at Sofitel Dubai The Palm Resort & Spa.

More information on the Smart Data Summit is now available at https://www.smartdatadubai.com/ (https://www.bigdata-me.com/). Follow the Summit on social media with the hashtag #SMDATA.