Big Data and Business Intelligence in Amazon (MO2-3) Amazon, one of the world's leading e-commerce platforms,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Big Data and Business Intelligence in Amazon (MO2-3) Amazon, one of the world's leading e-commerce platforms, serves millions of customers each day. The amount of data generated from customers' online activities is substantial, and Amazon uses big data analytics and business intelligence (BI) to drive its operations, decision-making, and customer experience improvements. Amazon collects large volumes of structured and unstructured data, such as customers' purchasing history, search queries, and clickstream data. This data is processed and analyzed to gain insights into customer behavior and preferences [1]. Amazon uses BI tools to visualize and interpret the data generated. Tools like AWS QuickSight provide valuable insights about sales trends, customer behavior, and product performance. Amazon's recommendation system is a prime example of big data analytics and BI. It analyzes customer behavior, past purchases, items in the cart, and items rated and reviewed by the customer. Using machine learning algorithms, Amazon predicts what customers might want to buy next [2]. The personalized recommendation system has significantly boosted Amazon's sales. A study by McKinsey stated that 35% of Amazon's revenue is generated by its recommendation engine [3]. Prepare a research report to address following questions: 1. How did Amazon leverage big data analytics and business intelligence to enhance customer experience and boost sales? 2. What role did machine learning play in Amazon's Bl strategy? 3. Can other e-commerce businesses replicate Amazon's success? What would be the potential challenges? References: [1] Davenport, T. H., & Dych, J. (2013). Big Data in Big Companies. International Institute for Analytics. [2] Linden, G., Smith, B., & York, J. (2003). Amazon.com Recommendations: Item-to-Item Collaborative Filtering. IEEE Internet Computing, 7(1), 76-80. [3] Mckinsey Global Institute. (2013). Big data: The next frontier for innovation, competition, and productivity. Big Data and Business Intelligence in Amazon (MO2-3) Amazon, one of the world's leading e-commerce platforms, serves millions of customers each day. The amount of data generated from customers' online activities is substantial, and Amazon uses big data analytics and business intelligence (BI) to drive its operations, decision-making, and customer experience improvements. Amazon collects large volumes of structured and unstructured data, such as customers' purchasing history, search queries, and clickstream data. This data is processed and analyzed to gain insights into customer behavior and preferences [1]. Amazon uses BI tools to visualize and interpret the data generated. Tools like AWS QuickSight provide valuable insights about sales trends, customer behavior, and product performance. Amazon's recommendation system is a prime example of big data analytics and BI. It analyzes customer behavior, past purchases, items in the cart, and items rated and reviewed by the customer. Using machine learning algorithms, Amazon predicts what customers might want to buy next [2]. The personalized recommendation system has significantly boosted Amazon's sales. A study by McKinsey stated that 35% of Amazon's revenue is generated by its recommendation engine [3]. Prepare a research report to address following questions: 1. How did Amazon leverage big data analytics and business intelligence to enhance customer experience and boost sales? 2. What role did machine learning play in Amazon's Bl strategy? 3. Can other e-commerce businesses replicate Amazon's success? What would be the potential challenges? References: [1] Davenport, T. H., & Dych, J. (2013). Big Data in Big Companies. International Institute for Analytics. [2] Linden, G., Smith, B., & York, J. (2003). Amazon.com Recommendations: Item-to-Item Collaborative Filtering. IEEE Internet Computing, 7(1), 76-80. [3] Mckinsey Global Institute. (2013). Big data: The next frontier for innovation, competition, and productivity.
Expert Answer:
Answer rating: 100% (QA)
Research Report Big Data and Business Intelligence in Amazon 1 How did Amazon leverage big data analytics and business intelligence to enhance customer experience and boost sales Amazon leveraged big ... View the full answer
Related Book For
Analytics Data Science And Artificial Intelligence Systems For Decision Support
ISBN: 9781292341552
11th Global Edition
Authors: Ramesh Sharda, Dursun Delen, Efraim Turban
Posted Date:
Students also viewed these accounting questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...
-
Four of Wands, LLC generated $255,000 in sales during January 2022. Of this amount, 25% was for cash. The remaining 75% of sales were made on account. The February 2022 sales on account were...
-
The accompanying box plot depicts heights (in inches) of a large collection of randomly selected adult women. a. If one of these women is randomly selected, find the probability that her height is...
-
John VanWyk owns VanWyks Tractor Shop in Bathurst. (In the Excel templates in MyLab Accounting, balances as of April 1 are provided for the accounts receivable and general ledger accounts.) In Johns...
-
We know that the present value of a share is \(\$ 40\) and that after one month it will be \(\$ 42\) or \(\$ 38\). The risk-free interest rate is \(8 \%\) per year continuously compounded. (a) What...
-
What are the likely reasons and rationalizations Matt will give for making the payments discussed in the case?
-
Weighted Average Shares At the beginning of 2 0 1 9 , Hardin Company had 3 4 0 , 0 0 0 shares of $ 1 0 par common stock outstanding. During the year, it engaged in the following transactions related...
-
Ms. Wilson invested $29,000 in two accounts, one yielding 6% interest and the other yielding 10%. If she received a total of $2,180 in interest at the end of the year, how much did she invest in each...
-
How does contemporary gender theory deconstruct and reconceptualize traditional binary understandings of gender identity, moving beyond essentialist frameworks towards more fluid and intersectional...
-
How do post-structuralist perspectives problematize the essentialist assumptions underlying conventional understandings of gender, and what alternative frameworks do they offer for analyzing gender...
-
Kidder Corporation's balance sheet shows an historical book value for long- term debt (bonds, at par) of $23,500,000. The bonds have an 6.4% coupon rate, payable semiannually, and a par value of...
-
Of 24,000 grocery store transactions, 1,745 have been identified as having coffee, ice cream, and chips as part of the same transaction. Calculate the support of the association rule
-
describe the possible defences available to a defendaant when a negligece action is brought against them, explain your answer in details
-
Search the literature, in your area, for the benefits of Medical health care ethics and the risks of not following research ethics. Summarize an ethical code of conduct in your area of study. Find...
-
Walker, Inc., is an all-equity firm. The cost of the company's equity is currently 11.4 percent and the risk-free.rate is 3.3 percent. The company is currently considering a project that will cost...
-
To test \(H_{0}: \sigma=50\) versus \(H_{1}: \sigma <50\), a random sample of size \(n=24\) is obtained from a population that is known to be normally distributed. (a) If the sample standard...
-
(a) Determine the critical values for a right-tailed test of a standard population deviation with 18 degrees of freedom at \(\alpha=0.1\) level of significance. (b) Determine the critical values for...
-
In Example 2 from Section 10.3, the quality-control engineer for M\&MMars tested whether the mean weight of fun-size Snickers was 20.1 grams. Suppose that the standard deviation of the weight of the...
Study smarter with the SolutionInn App