AI Revolution: How data can identify and shape consumer behavior in ecommerce

Abstract:

Data has become one of the most significant instruments to ecommerce innovation. Benefits towhole society can be summarized as following: from the government’s perspective - to assess the impact of ecommerce to the economy; to merchants - to understand consumers’ needs; and well as to consumers - to be offered the right product he/she is looking for. The digital revolution in the past years has shown the need to implement a differentiated service than the offline shops, when consumers are not able to try and touch products. It is for this reason that ecommerce has continuously developed and transformed ROPO into a true online Experience. Considering the future of ecommerce is to enhance economic development and growth, this research will discuss the disruption of R&D through big data. The core objective is to propose a predictive model to deeply understand consumer behaviour by analysing new regulations and transaction records (frequency, timing, interests, cart abandonment reasoning).