data science course fees in Bangalore has progressed a lot over the decades. Today multiple companies rely on data science to deliver the results on the financial and business front.
data analytics course , as well as data science, have become an integral part of eCommerce. Today using the tools incorporated in data analysis, a data scientist can protect whether a company would run into profits or losses. They can even predict whether a customer would be buying their products or not. Or, they can manipulate them to have a higher preference for their product.
A few examples which show how data science is applicable in commerce are discussed below.
All search engines follow a similar business model. Retailers can buy according to a search engine’s recommendation list. These engines can help to increase sales and manipulate trends. Netflix, as well as Amazon, has been doing it for years now.
The various machine learning algorithms are programmed in such a way that they keep a statistical record of how every customer behaves. Then these data are subjected to recognize a pattern. Have you ever thought that the film that you were going to watch was at the top of the recommendation list on your Amazon app? It probably was not a mere coincidence, but machine learning and deep learning is doing its best. And this helps to sale the products.
This is a traditional approach and a logically figured out marketing tactic. It has been discovered out when a group of users purchased a particular set of objects while buying another set of objects. This actually happens if the individual products can be combined together to form a big picture. This is how an engine can produce accurate recommendations to persuade people to buy more.
Keeping a check on the analysis of the warranty data can help the producer to understand their product better. If you find out particular problems with a product, then its lifetime warranty covers all. This kind of analysis depends upon the number of times a product fails and the frequency at which it fails. This can also give an accurate number of units that are in service in the market.
It is expected to sell a product slightly over its producing cost. The reality is that the price depends upon what the market is ready to pay. Not a single dollar more or less. This leads you to a concept of price optimization. The price must be set not only to cover the production cost, but also to consider what the customer is willing to pay.
These were the few applications of data science in the field of eCommerce.
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I strongly believe that this course can help anyone reach great heights if they have the passion and courage towards data science. business analytics course can open a world of opportunities and this course can help to lay the foundations.
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