Smart E-Commerce Conversions: Perceptive Analytics
retailciooutlook

Smart E-Commerce Conversions: Perceptive Analytics

By: Retail CIO Outlook | Thursday, November 29, 2018

Machine learning and Nlp in ecommerce growthIn today’s scenario, online shopping has become the latest trend, reshaping the future of e-commerce industry. Approximately, 79 percent of the U.S. population purchases their products online, since it is time-saving, and there exists a well-versed selection of goods with immense options and comparative costs.

Intercommunication amongst human language and e-commerce websites are achieved through natural learning processing (NLP). NLP enables artificial intelligence protocols, computational linguistics to analyze human language, and the ability to perform complex text-based analytical tasks such as summarization, data extraction, sentimental analysis, and speech recognition.

Furthermore, NLP strikes the critical balance in delivering quality search target results by providing insights into varieties of products with similar specifications available in the market. 

In shopper searching, the key focus should be given in determining all the documents and pages related to a particular search along with one or more similar items. The concept of “distinct keyword-based search” is helpful in attaining the same, which can produce the results with a thorough search and viewpoint of the consumer. Once the products with desired specifications are recognized, NLP deploys advanced Machine Learning (ML) based protocol to capture their specs, functions, and reviews. 

Apart from capturing specifications, NLP determines the desired products in context with search items, and with self-shopper unique lexicon preference. For example, the individual choice keeps on changing. Also, NLP should recognize the synonyms of that particular product. This can be achieved through repetitive training of advanced Machine Learning algorithm with test scenarios and learning from them to ascertain statistical inference. The more it gets trained, the better search results on individual preference can be discovered.

Due to the numerous benefits NLP offers, several organizations are integrating it for better search personalization and yield high accuracy. Customers anticipate personalized on-site experience similar to that of physical stores. This embedded process is helpful in achieving the same by depicting the priority results with certain comparative attributes such as the color of the object, size, brand affinity, and the style.  

However, e-commerce industries are yet to evolve with technologies to offer the best shopping experiences. Augmented and virtual reality continues to evolve to better capture the real experience of the selected object online and uniquely engage the customer while they shop. In the future, embedding ML technologies with augmented and virtual reality can show entirely new directions to the e-commerce industry. 

Weekly Brief

Read Also