Machine Learning’s Growing Impact on E-Commerce

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Presentation transcript:

Machine Learning’s Growing Impact on E-Commerce O’Baida Adi John Cen Rami Taleb

Background Information What is Machine Learning? Iterative algorithm that grows more knowledgeable with more data. Bigger Data → Better Results

History of Machine Learning on E-Commerce Machine Learning is a relatively new concept in computer science. Simplest example of it is to search for a product. Any advertisements that appear after completing the search should be related to the product.

Significance of Machine Learning in E-Commerce Machine Learning is a powerful tool that can be used in many different aspects of business. Marketing Financing Inventory Sales Etc. Generally: Newer Technologies → Better Control of the Market

Who does it Benefit? Beneficiaries: Manufacturer Corporation Wholesaler Retailer 3rd Party Organizer Any other group that partakes in the selling part of the transaction. Consumers may also indirectly benefit.

Effect on the Business Targeted Marketing Knowing which products sell more, when and to which demographic Machine Learning categorization over a large database Inventory Tracking Sales Tracking Cheaper, Efficient Alternative Etc.

Effect on the Consumer Online Shopping vs Brick and Mortar Store Hyper Personalized Advertisements Promotional Deals Target Example Product Suggestions and Recommendations Consumers will spend more because of the simplicity and efficiency of online shopping, especially when provided with suggestions tailored to them.

Machine Learning in E-Commerce Today Improving Search Results Promotions and Suggestions Business Intelligence Strengthening Supply Chain Management Price Management

Summary What is the history, context, and scale of the problem? Why is the problem important? Who is the problem important to? Who has complained about it? How many customers is the problem important to?

Thank You