Customer Acquisition and Retention in E-commerce Using AI & Machine Learning Techniques

Abstract

Since 2012, Big Data has been attached more and more importance by companies in this data exploding era. Companies utilize Big Data Analytics to make data driven decisions in many aspects of the business to gain competitive advantages. This paper mainly focuses on analyzing how e-commerce companies use big data analytics to boosts their customer acquisition and retention and propose a feasible framework to apply big data analytics based on a case study of Walmart. It also brings the limitation and concerns of using big data in the last section to remind companies to utilize it in the right way. It’s worth mentioning that although this paper mainly studies an e-commerce company, Walmart, due to its in-nature advantages of easy access to a ton of in-house customer data, the conclusion, framework and methodology can be generalized to other types of companies as well. Besides, it’s been observed that there are still companies struggling to embed big data analytics into their company ecosystem during the pandemic in which companies move their business online to survive. The research is done in this paper hopefully can bring some inspiration to those companies and help them adopt big data technologies.