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Open Access December 27, 2020

An Effective Predicting E-Commerce Sales & Management System Based on Machine Learning Methods

Abstract Due to influence of Internet, this e-commerce sector has developed rapidly. Most of the online retailing or selling businesses are seeking for way for predicting their products demand. Sales forecasting may help retailers develop a sales strategy that will enhance sales and attract more money and investment. The current research work puts forward a machine learning framework to forecast E-commerce [...] Read more.
Due to influence of Internet, this e-commerce sector has developed rapidly. Most of the online retailing or selling businesses are seeking for way for predicting their products demand. Sales forecasting may help retailers develop a sales strategy that will enhance sales and attract more money and investment. The current research work puts forward a machine learning framework to forecast E-commerce sales for strategic management using a dataset of E-commerce transactions. With 70 percent of the data for train and 30 percent for test, three models were produced, namely, Random Forest, Decision Tree, and XGBoost. In order to evaluate the models, performance measures inclusive of R-squared (R²) and Root Mean Squared Error (RMSE) were employed. Thus, the XGBoost model was the most accurate in marketing predictive capabilities for E-commerce sales with the R² score of 96.3%. This has demonstrated the increased capability of XGBoost algorithm to forecast E-commerce monthly sales more accurately than other models and can assist decision makers for managing inventory and arriving smart and quick decisions in this rapidly growing E-commerce market. The findings reiterate the importance of using advanced analytics in order to drive effectiveness and customer experience within E-commerce sector.
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Open Access January 10, 2022

The Impact of Instant Credit Card Issuance and Personalized Financial Solutions on Enhancing Customer Experience in the Digital Banking Era

Abstract In today's fast-changing world, digital has become a way of life in every single field, and it is affecting all industries by providing multi-channel connectivity with people. In the banking industry, moving to the digital age allows for more improvements in customer-related operations and transaction-related operations within a day. These studies are from the perspective of customers. Customers [...] Read more.
In today's fast-changing world, digital has become a way of life in every single field, and it is affecting all industries by providing multi-channel connectivity with people. In the banking industry, moving to the digital age allows for more improvements in customer-related operations and transaction-related operations within a day. These studies are from the perspective of customers. Customers prefer the flexibility of using digital financial services. Banking clients are commonly given technology-related services, whether they are online or not. Now, banks are focused on providing instant credit card issuance and personalized financial solution services to their clients. They are responsible for managing mass affluent clients who conduct transactions approximately the same as mass retail clients. Providing personalized services on time to individual end users will significantly enhance customer value with the banks. Customers who use the bank digitally perform more operations than those who go to the branch. Thus, they become more valuable clients for the banks. This strategic approach to the digitization process takes place in this fast-changing environment, and the major steps of this journey will be explained in the next chapters [1].
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Open Access December 27, 2019

Transforming the Retail Landscape: Srinivas’s Vision for Integrating Advanced Technologies in Supply Chain Efficiency and Customer Experience

Abstract Technological advances have had a transformative impact on the retail landscape. Challenges arise with guaranteeing technological changes lead to, rather than detract from, increased efficiency and positive experiences. First, integrating technology into the supply chain in an aggressive way is costly. It requires vast changes to existing systems and developments of cross-industry communication [...] Read more.
Technological advances have had a transformative impact on the retail landscape. Challenges arise with guaranteeing technological changes lead to, rather than detract from, increased efficiency and positive experiences. First, integrating technology into the supply chain in an aggressive way is costly. It requires vast changes to existing systems and developments of cross-industry communication protocols. Secondly, the public is often quick to reject technological changes or slow to become users. Finally, ensuring that technological advancements do not only benefit the top few retailers and are accessible to those of any size poses a challenge, as has been seen in the fate of only a handful of radical changes in retail technology. On the other hand, an integral aspect of technology, particularly that used for big data collection and processing, is that it can account for these and other variables. It can predict the success of ventures into modernizing or developing new systems and can identify more effective and efficient ways to do so. Of course, the concerns of job loss or technological monopoly still loom. But, it would seem, the continued advancement of technology in the retail landscape is inevitable.
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