New analytics software helps increase tailored e-commerce sites
Friday, August 12th 2011 by Kate Billinghurst
An online e-commerce company in London has incorporated new IBM analytics to process more data and improve the shopping experience.
The improvements the software brings will help with website promotion and will also analyse consumer feedback as well as online shopping trends based on product searches, blog posts and tweets.
Technovated applies the IBM business analytics software to terabytes of public data on the internet, including data available on search engines and social networks, to understand how consumers feel about various products.
The company can then use this information to automatically start individual e-commerce web stores that can be highly targeted to customer preferences as well as being competitively priced. The new software can allow new sites to be created within days as opposed to previously where the process could take six weeks or longer.
Gareth Knight, chief executive officer of Technovated said: "The level of product and customer insight that we are able to achieve from customer interaction on new media and social networks allows us to compete with larger e-commerce brands and gain market share."
The e-commerce start-up business has grown rapidly over recent years and it can now use the information garnered by the software to create personalised shopping experiences so it can better compete with top online retailers.
Rod Smith, vice president of emerging technology at IBM, said: "The amount of information being generated by social media sites alone is mind-boggling."
"Businesses that use IBM business analytics software to capture and analyse this information can uncover new trends that just weren't possible before, and use this information to drive growth."
Recently, IBM announced an investment of just over £61m for continued research on technologies and services that will enable clients to manage and exploit data as it continues to grow in diversity, speed and volume.
This initiative will focus on research to deliver similar analytic technology into the marketplace through advancing software, systems and services capabilities.
Living Streams "Improving clients' profitability through better use of the internet"