E-commerce is so popular that it has driven the development of new technologies such as BIG DATA that simplify the processing of larger amounts of information.
The reasons that drive customers to buy online are very simple; 91% of online shoppers think that efficient and straightforward delivery costs are the key to a satisfactory online purchase.
On the other hand, we have the return process , which on many websites is complicated and involves a very long and tedious process, whereas in conventional commerce you can return items instantly.
The e-commerce sector is constantly evolving. The digitization of global markets is progressing rapidly, and across all commercial sectors, the rapid increase in e-commerce sales compared to traditional retail can be observed.
The lag of some companies is noticeable; anyone who doesn't have their own online platform is missing out on thousands of sales per day, since with the internet, accessing items for sale from anywhere in the world is a given.
What is the current trend in e-Commerce?
E-commerce in Spain represents 11% of total purchases made, with fashion continuing to be the sector that registers the highest flow of money and represents 48% of purchases made online.
The growth of e-commerce is unstoppable, breaking sales records every year during periods like Black Friday, Cyber ​​Monday, Christmas shopping, and the highly anticipated January and February sales. These periods are undoubtedly the peak season for online commerce and present a significant challenge for the shipping and logistics sector in our country.
The trend in e-commerce can be seen in the second edition of the 'eShopper Barometer ', a detailed survey conducted by DPDgroup to understand the requirements, characteristics, and main motivations of online shoppers. The results of this report provide a broader perspective on current purchasing trends in e-commerce.
So what do we know about buyers?
That exist three different types of online shoppers in our country:
- The big buyers, which have an average of 5,3 packages received per month and their purchases represent 87% of all online purchases made in the year.
- Average buyers, that receive an average of 2,7 packages per month and represent 11% of total annual online sales.
- Small buyers, with 1,3 packages or less received per month, they represent 2% of the annual total spent on ECommerce.
Who buys more?
Taking into account the above regarding the fact that eCommerce already represents 11% of the total purchases made in Spain, fashion continues to be the sector that registers the most activity and represents 48% of the online purchases made in Spain.
The vast majority of purchases are made by millennials, with more than 57% admitting to buying these types of products online.
The next positions in the sales ranking are held by the beauty and technology sectors, accounting for 38% and 36% respectively of total online purchases in Spain . The report highlights the emergence of online purchases of fresh food and beverages in the top 10, representing 18% of total sales in Spain. Furthermore, 14% of Spaniards who shop online admit to buying food online at least once a month.
Understanding online shoppers' opinions is key to success in e-commerce. We all agree that a simple and secure purchase will positively impact the growth of online businesses, as satisfied customers will repeat the experience and recommend it to their friends and family. This same study demonstrates this, showing that 85% of shoppers found their online purchase easy, and 75% were highly satisfied with the experience.
What is Big Data?
Big Data is, in short, the management and analysis of enormous amounts of information or data that cannot be processed conventionally by a common operating system, as they exceed the capabilities of regular software and surpass the limits of algorithmic processing.
This concept encompasses technological development in various sectors, such as infrastructure, technology, and services , specifically designed to address the processing of large amounts of structured, unstructured, or semi-structured data. This data includes social media messages, audio files, digital images, form data, emails, mobile signals, sensor data, and survey data. These data sources can include various sensors, cameras, medical scanners, and imaging systems.
The main objective of Big Data systems , as with ordinary systems, is to convert complex data into accessible and visible information that facilitates real-time decision-making.
Companies today are already using Big Data to understand the profile, needs, and characteristics of their customers and human capital in relation to the products or services they sell. This has reshaped how the customer is valued, allowing companies to tailor their communication with customers and the services they provide.
Associating the concept of Big Data with large volumes of data is nothing new. The vast majority of large companies have long been handling large volumes of information, but they were forced to use other technologies such as data warehouses and powerful analytical tools to properly process these large volumes, before the advent of Hadoop software. Technological advancements have led to a considerable increase in the volume of information handled by these applications.
The 5 pillars of Big Data
The three 'V's of Big Data are the main characteristics used to identify it: Volume , Variety , and Velocity . But with the experience gained by pioneering companies in this sector of managing massive amounts of information, the original definition has been expanded, adding new definitive characteristics such as Veracity and Value of the data.
It is called Big Data when volumes exceed the capacity and limitations of common software, be it Windows, Mac or even Linux, to be processed without problems.
The concept of volume is constantly changing due to rapid technological advancements, which allow for the processing of increasingly larger volumes of information. To clarify the term, large volumes of information are hundreds or thousands of terabytes or petabytes , exponentially larger quantities than the common thousands of gigabytes that a computer is accustomed to processing. This concept of volume is also highly variable, as we increasingly consider the amount of data processed.
The information that Data Warehouses can process is structured information that has passed through a large number of filters for superb quality control, in order to guarantee that the information it processes has a predetermined precision and accuracy.
When we mention Big Data, we're talking about information that can be semi-structured or completely unstructured . Processing this unstructured information requires different technology and allows users to make decisions based on imprecise information. Most of these algorithms are related to advanced fuzzy logic systems, which are not yet fully developed.
Speaking of the concept of variety, refers to the types of data that the system receives, these are 3:
- Structured
- Semi structured
- Unstructured
Finally, the concept of speed obviously refers to the rapidity with which enormous volumes of data are received, processed, and transmitted to inform decision-making. Most conventional operating systems are unable to quickly analyze such large amounts of information, but incorporating the concept of real-time data processing is crucial for fraud detection systems or for the enhanced personalized offers that are currently presented to customers, taking into account their likes and other factors that determine what might interest them.
To conclude, veracity is the reliability of the processed information , extracting quality data, improving the inherent visualization of some, such as time, the economy among others, which will help in better decision making.
Finally, the value and importance of fundamental business information is emphasized . Knowing which data to analyze streamlines the entire process by pre-selecting it is crucial for speed and accuracy. In fact, it's already the second most in-demand specialization in Spain.