VALUATION OF DATA MINING (DM) AND BIG DATA ANALYTICS

With millions of customers worldwide, Amazon is the largest online store offering amazing products and sendees online. They have a great customer database and use this data to build strong relationships with their customers.

By analyzing and summarizing useftil information about customers, they design their strategies for promotions and product improvements, as well as incorporating the concept of extracting data from the supply chain into marketing processes [22].

Amazon also uses DM to market its products in various aspects to gain a competitive advantage. Customers want customization from companies they buy products, most online companies, because of increased social media interventions [23].

Providing targeted information to a customer sendee representative who deals with a particular customer is a required opportunity for development. Amazon Customer Representatives have access to complete customer data and can analyze and discuss the problem once a call is received from the customer, so customers are satisfied that they will be taken into account with their orientation.

Smart retailers such as Amazon are also characterized by the efficient use of data collected through efficient sources, and the results are exploited in a way that creates value for the company. Customers can also control the information they want to share or not, giving them a sense of ownership and control.

Customer data has become a way to build strong brands and customer loyalty through effective DM, where each client is treated individually and prioritized in building the company’s strategy. They feel comfortable interacting with them if they get control and transparency.

Marketers get information with every click. Amazon’s customer purchase history helps them determine customer preferences and options [24]. Then they make the advertising campaign according to the customer’s choice. Social data traffic is much faster than manual data and is automatically downloaded. Behavior patterns are studied in identifying marketing channels and developing marketing strategies.

Amazon recently patented a system designed to ship goods to customers before deciding to buy them (predictive sending); it is a strong indication of their increased confidence in reliable predictive analytics.

An important factor to consider when looking at Amazon is the extent to which its big data is traded, compared to that of other companies that deal with data on a similar scale. Unlike Facebook, which may know a lot about movies you like or about your friends, the vast majority of Amazon’s customer data relates to how they attract hard cash [1].

With 360° technology developed using massive data resources to create customized marketing messages for customers, customers have been able to leam more about products. Apart from improving its business performance, big data resources have also been used for some innovative uses, such as preventing theft of goods from its warehouses. Amazon also allowed smaller e-commerce companies with limited resources to use big data sendees.

In 2010, Amazon launched an innovative sendee called Amazon Webstore, which allows smaller businesses to build shopping portals based on Amazon’s e-commerce platform [25].