Big data at Flipkart – How Flipkart clutch big Opportunities through Data?
I was really true to Amazon till the day Flipkart made me to breakup with it? Yes..your assumption is clear. Flipkart showered much more love on me by fulfilling my every wish and drew all my attention. (Flipkart — “Ab Har Wish Hogi Poori”)
So exactly what made me switch my shopping platform? The amazing deals and offers in almost every product line. Yeah, of course, but I have a happy story. But wait, let me first introduce Flipkart.
It is an e-commerce company founded by Sachin Bansal and Binny Bansal with its registered office in Bangaluru. It initially involved in the sale of books and later offer products such as consumer electronics, fashion and lifestyle products.
Back in 2007, the Bansals launched an online store that delivers books. The two IIT Delhi graduates who met in 2005 in their last year of engineering and later became colleagues.
They were working at Amazon until entrepreneurial bug began to bite them. They left their jobs for a startup with less competition as online businesses did not hold popularity in those days.
Imagine Binny and Sachin riding around Bengaluru on a bike delivering orders of books. They would not have given much thought to their dreams as reaching from $7000 to $16 billion in a decade. Absolutely what would have they done? Did they get a magic wand? No.
These are the principles they set which give continuous growth to their business:
- Keeping the customer first and doing right to the customer.
- Keeping things focused and simple.
- Major focus on technology and Big Data.
Big Data at Flipkart
Flipkart is ramping up its capabilities with Big Data analytics through which it wins the battle of achieving superior customer satisfaction and better decision making.
You must explore Big Data
Without Big Data, reaching to the top is complex.
Ravi Vijayaraghavan, VP & Head- Analytics, Flipkart.com said “Everything that carries out in Flipkart is data-driven. We are an online company and we don’t take any decisions or make strategies without Data analytics and statistical modeling”
One of the top Mantras of success in business is satisfying the customers. But the regular ups and downs in customer preferences give it a scope of deep understanding.
The information collected from the data gives insights into customer buying behavior and retention. Therefore Flipkart or any other company that aspires to succeed must apply Big Data.
Are you aware which company pioneered Cash-On-Delivery payment mode?
Flipkart introduced COD payment mode and 30 days return and replacement policy which wins over the customers. It also launched Ekart logistics. Later it expanded its categories to include Electronics, Mobiles, Fashion, Baby Care and Home Appliances.
It brought the shopping in every customer’s fingertips by the launch of the great tools for customer better experience such as The Flipkart mobile app, The Digital Wallet, Flipkart Lite, Flipkart Assured, and PhonePe (India’s first UPI based app).
Flipkart turned new pages of growth by acquiring (my favorite :-))Myntra, Jabong, and eBay.
Big Data not only helped Flipkart but it has also been used in other cases. Know about this by reading how Big Data is used in various cases?
My story about Flipkart
So its time for my story about Flipkart.
I am talking about July 2018. My sister’s marriage was at the corner and I was worn out finding some cool cosmetics on Amazon (my regular shopping platform). Neither it had any good discounts nor a standard delivery(failed to provide services in the monsoon ?)
I felt dejected because I was really fond of Amazon but it dissatisfied me,!!
Then the above banner popped on my screen through Google ads and just blew my mind. It was for the first time I walked through the Flipkart website and it made me crazy.
Whoaaa!!! Brands like Huda Beauty, Lakme, and Loreal Paris had big discounts. Not only big discounts but I got amazing deals.
Won’t you buy that pair of shoes for which you get a pair of socks free? ? I certainly will. I was more than satisfied with Flipkart as I almost paid half on every product and unbelievably got the early delivery of my products.
Switching to Flipkart was my carefree decision.!!
Role of Big Data at Flipkart
Wonder how did Flipkart come to know about my choices and preferences?
The answer is Big Data.
Right from the strategy, marketing, retail, products, logistics, consumer experience to corporate strategy Data Analytics serves the entire company.
Flipkart for the value proposition provides its customers access an affordable, high-quality assortment of products and creating a great shopping experience. Based on these, building the right selection is a tricky problem for any seller.
To give the best selections of products to the customer, companies perform ‘Data Mining’. Get quick insights into Data Mining.
Millions of search queries and browsing patterns are to be mined to arrive at the attribute of a product, that a customer wants to buy. These attributes can be price, size, brand, fabric, and pattern of a product.
In addition to this, external information from Google and the market study of the competition is done of both online and offline retailers.
Conclusion
One of India’s largest e-commerce giant Flipkart has finally incorporated Data Analytics in such a way that it is fast becoming the nervous system of the company.
Finally the right implications of Big Data technologies and Data Mining have pushed the company to great heights. Therefore every company must be well versed with Big Data for consistent growth.
I hope the article was valuable to you.
Happy Reading ?