How Data Labeling Services Empower E-commerce in 2021?
The influx of artificial intelligence technology in the e-commerce industry is changing tremendously the traditional way of shopping. Machine learning, NLP(natural language processing), and other AI tools enable enterprises to attract new customers. It can help increase user engagement as well.
Applications
1. For potential customers
In the e-commerce world, most sales teams don’t follow up sales leads because they think it’s just a waste of their marketing budget. In fact, according to a survey, 33% of companies did not even try to follow up with potential customers. Many promotion opportunities are missing. Technologies such as prediction tools can help keep and track records of brand loyalty and customer product preferences. AI will analyze all the data of millions of potential buyers and identify their specific needs and standards which can be used for business needs.
2. Focusing on personalization
Although personalization in the e-commerce world is not a brand new conception, we can use AI to take it to a new level. This can provide a competitive advantage in the niche market. AI personalization service enables enterprises to identify customers’ behaviors.
In today’s customer-oriented market, many decisions are involved, including understanding customers’ needs and desires and adapting the products accordingly. In order to make the best marketing decisions, it is absolutely important to understand the changing customer behavior. AI’s modeling and simulation technology can give the customer insight and help predict their behavior. Through forecasting, trend analysis, and real-time data collection, artificial intelligence can help enterprises make reasonable marketing decisions.
3. Improving the sales process
Nowadays, customers’ lives are greatly influenced by various advertisements online and on social media platforms. In order to tailor the problem-solving process and build strong sales information, we may need to consider integrating AI into the CRM process.
Most AI systems support voice input and natural language learning. It also enables the CRM system to respond to any customer query, solve their problems, and even explore opportunities for the sales team.
4. Price optimization
Dynamic pricing is very important for most e-commerce retailers because it can promote sales and generate more profits. Through machine learning, organizations can now monitor and adjust prices as needed. In order to make more accurate price suggestions and sales forecasts, the algorithm can check various historical data and competitive data. In addition, dynamic pricing can even increase profits by 25% on average.
5. Instant support: Chatbots
Using AI through chatbots is a good way to answer questions and customer queries in real-time and promote customer conversion rate. In addition, it is relatively easy to install. Many e-commerce enterprises choose the chat robot with AI function not only because it has the ability to automate the process, but also it provides excellent customer service in a cost-effective way.
6. Expanding business with AI tools
Artificial intelligence has undoubtedly swept the world and will replace most repetitive work. Now, many companies are promoting AI-based products to improve business efficiency, In the e-commerce business, however, most e-commerce stores are still far behind in using the functions of AI tools.
But one thing is clear. AI tools do most of the repetitive, mundane tasks that many online business owners hate, paving the way for e-commerce retailers to check the millions of interactions that happen every day.
There is no doubt that AI is changing the way of sales and marketing. With this technology, many brands and enterprises can understand the ideas of their target markets and customers, and use the information to sell their products.
Common Labeling Types in E-commerce
- Personalized Shopping&Discovery
- Product Search Relevance
- Object Detection
- Classification and Localization
- Object Tracking in Video
- Product Information Content Moderation(Tagging)
- Product Classification & Categorization
- Product Information Matching
- Product Recognization
- Product Review Analysis & Recommendation
End
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Relevant articles:
1 Chatbot — One of the Most Popular Applications in the NLP Field
2 Main Applications of Natural Language Processing(NLP) — 1
3 Main Applications in Natural Language Processing Field(NLP) — 2
4 Main Applications in Natural Language Processing Field(NLP) — 3
