Inventory management software is an application software for businesses to track sales, orders, product inventory levels, deliveries, etc. It is a tool used for organizing inventory data that decades back was stored as hard copies and endless spreadsheets that was time consuming to analyze. E-commerce businesses use inventory management software to avoid product outages and overstock. Components of an Inventory Management System The major components of an inventory management system are:
Business Solution | 2 min read
Personalization is all about providing unique services and content to customers based on the data a company has about their customers. Providing personalized customer experience has become a top priority for most of the business because personalization has a great impact on brand advocacy and brand loyalty. Traditionally, marketers personalize the content and services based on a sample survey, that explains the behaviour of a large group with the data collected from a small group.
Customer needs are highly variable and complex on an individual level. Present-day customers are maturing at an aggregate level with greater expectations for high customer service standards. Customer service that exceeds customer expectations for increased loyalty and satisfaction is the single most important driver for any business.
Businesses are increasingly accumulating digital consumer data from the multiple channels through which interactions occur. Personalization efforts can be made tangible, measurable benefits through this aggregated consumer data. According to a Gartner survey1 of vendor's reference customers, there was an overwhelming majority of 99% of those surveyed who stated their satisfaction in receiving the expected ROI from their personalization offerings. Seventy percent of them reported using a SaaS solution.
A successful online store is the dream of every online business owner. When you are open 24/7, 365 days of the year, the logical thinking is that the business should increase proportionately. But sales might not be happening as you anticipated. Effective marketing, Site optimization, Content generation, Site’s responsiveness are all integral to a successful e-commerce site. Among the challenges faced by e-commerce site owners, the five major ones are: