This document provides an analysis of a proposed e-commerce platform called Smart Buy. It acknowledges that online shopping habits have changed significantly due to the pandemic. Smart Buy aims to address the problem that customers are not always getting the best deals by only shopping on one e-commerce site. It would solve this by comparing prices across multiple sites and notifying customers of price drops. The document discusses Smart Buy's features and provides the results of a customer survey that was conducted to evaluate the market potential for such a platform. Data analysis tools like decision trees and random forests were used and found that there is a good market for this type of product.
This document provides an analysis of a proposed e-commerce platform called Smart Buy. It acknowledges that online shopping habits have changed significantly due to the pandemic. Smart Buy aims to address the problem that customers are not always getting the best deals by only shopping on one e-commerce site. It would solve this by comparing prices across multiple sites and notifying customers of price drops. The document discusses Smart Buy's features and provides the results of a customer survey that was conducted to evaluate the market potential for such a platform. Data analysis tools like decision trees and random forests were used and found that there is a good market for this type of product.
This document provides an analysis of a proposed e-commerce platform called Smart Buy. It acknowledges that online shopping habits have changed significantly due to the pandemic. Smart Buy aims to address the problem that customers are not always getting the best deals by only shopping on one e-commerce site. It would solve this by comparing prices across multiple sites and notifying customers of price drops. The document discusses Smart Buy's features and provides the results of a customer survey that was conducted to evaluate the market potential for such a platform. Data analysis tools like decision trees and random forests were used and found that there is a good market for this type of product.
This document provides an analysis of a proposed e-commerce platform called Smart Buy. It acknowledges that online shopping habits have changed significantly due to the pandemic. Smart Buy aims to address the problem that customers are not always getting the best deals by only shopping on one e-commerce site. It would solve this by comparing prices across multiple sites and notifying customers of price drops. The document discusses Smart Buy's features and provides the results of a customer survey that was conducted to evaluate the market potential for such a platform. Data analysis tools like decision trees and random forests were used and found that there is a good market for this type of product.
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Data Analytics Report
Pratyush Ballepu MJ22GL050 Acknowledgement I would like to express my gratitude to all those who provided me the possibility to complete this report. A special gratitude to my Professor Anshul Gupta, whose contribution in stimulating suggestions and encouragement, helped me to coordinate my project including the writing of this project report. Last but not the least a sincere thanks to SP Jain School of Management for giving opportunity to work on the research and allowing access to industry worthy data base both offline and online.
Sincerely, Pratyush Ballepu- MJ22GL050
ABSTRACT Business Idea: Everything has changed after the pandemic, and we are living in a “New Normal” where certainly how we purchase things online and, in a mall, completely changed and we have become people who go online to buy anything and everything. I have come across platforms that gives you best deals on flights and hotels and then I had sustainable idea where we can get a platform that will give you the best deals across all the e-commerce platforms on the product you are looking for comparing all the price ranges in different websites and the deals and discounts, they offer on the product you were looking to buy.
Problem Statement: Pandemic has given a new dimension to the way we
shop and the paradigm shift has increased number of products that are being bought online and the offline market has gone lull, from Groceries to electronics from Apparels to Footwear, this platform can be a game changer to help the customers by analyzing their buying patterns and offering the information about which platform is offering the best deal for the product they are looking for.
Solution: Customers are loyal to one E-commerce website, and they are always willing to pay the money for the product that their e-commerce website has to offer and the deals they offer, but there is a lot of competition on the e-commerce side and what if some other website is offering a better deal on the same product? Smart Buy as a platform is the solution for this where in you search the product you are looking for and we compare prices across all the e-commerce platforms and suggest you the best deal and offer for the product you want to buy , which saves time and money who doesn’t want to save the two most important things in the world.
Introduction Data is the biggest asset any one can have in these days and in the future and an e-commerce website thrives on the user’s data, when you sign in to these platforms and create an account, you give the authority to access all of your data. Did you ever observe that you spoke about something to your friend over a call about some product and the next day you have a suggestion on Amazon or Flipkart for the same product and you think like is it “Deja-Vu”, No it isn’t because even they have access to your microphone and can hear to it, until unless the data is not in wrong hands, your data is safe and helps you have a personalized experience when you are online from online streaming to online shopping , the recommendation and suggestion algorithm is all over and it makes our life easier and experience smoother. If you are buying something offline let me, say a Mobile phone in a store, would you just go to one store, see the specifications, and price and buy it over there only or would check out a few stores check the price range and offers and then buy at the store which is giving the best deal, isn’t it? But when it comes to online shopping, we avoid doing it, and go to the best e-commerce platform we prefer and then the buy the product. Why don’t we need to save money now? Did the whole world become a lot richer? So I did come up with an idea to introduce a platform which will do all the searching for us, compare the best deals all around the e-commerce platforms and lets us know which site is willing to offer the best price to the product I am looking for and will suggest that to me, which will help us save time, money and human effort also.
Literature Review Let me give a brief interface about the platform, what features it has, how does it work and how can it make a difference in your shopping experience and make it a more personalized a cost effective one put your time to good effect.
Smart Buy does not sell any products on its platform, but it will be tied up with the big e-commerce platforms and get access to their data base of products deals, offers and prices and hence help a customer who is very important in any sector or industry. So If you login to Smart Buy which has a 10 day free trail subscription, and if you need a product let us name it a Hair Dryer, you got on to the platform and search for what you need, we use Big data analytics and we analyze the data we have from e-commerce websites on the given product , check which website has to offer the best deal on the product, lowest price, best specifications, brand and the customer reviews and then suggest the customer the best deal on the product from a particular e-commerce website. The customer does need to go around different platforms checking all the prices and reviews and then buy the product, we do everything for the customer and suggest the best deal for him, so that they can just buy the product without any hassle. This is one of the basic features of the platform Smart Buy. If the customer feels sometimes the online prices are high want to get the best deal this is the way to go and would go a long way.
Then the feature of giving notifications to the customer and intimating about the price drop, change in deals, sales and offers in the upcoming days or in the near future. After the customer takes a paid subscription for the Smart Buy platform then this feature can be used, where if a customer can add a product to his wish list to smart buy then the platform will monitor those products when there is a price drop on the product or gets a better deal than the existing one, the customer is notified about the same, that is when he can buy the product at better rate and with the best deal the website has to offer. A intriguing feature of Smart Buy its also allows you compare the price offline and online for certain categories of products, where the platform will need access to your location, mostly for electronics and then with in a range of 5 kms it will also compare the price of the electronic appliance you are looking for and will suggest the best deal, you shouldn’t miss on a best deal just because you can only shop online and the offline store is offering something better. Smart buy also help you in buying daily use items and groceries and also food an which food application has the best coupons, best offers on the items you are looking for, it doesn’t stop there it also goes to all the apparels and cosmetics.
Survey and Questionnaire for the Project:
To get the feedback and the customer opinion about the current e-commerce websites and how can Smart Buy can make a difference with its features . Below I am attaching the link for the questionnaire form that was sent for feedback and responses.
https://docs.google.com/forms/d/e/ 1FAIpQLSfCrE2pR551mYhFetk739yL6xLC6J4pn6nu4dwGAxO2G2pvRw/viewform Data Collection: Age Group:
Gender:
Location: Occupation:
Monthly Income of the House hold?
Decision Tree Confusion Matrix:
K K nearest neighbour: Decision Tree classifier: Random Forest Classifier: Gradient Boosting Classifier: Conclusion: From the above data analytical tools we could conclude that there is a good market for our product. and no matter how well-off people get, everyone enjoys discounts and offers. With the correct market positioning and market analysis we could enter a very compettive market and make a difference. The analysis also gave us an indept understanding about the customer preferences and habits.
Dropshipping: Create Passive Income with E-commerce and Shopify Step by Step by Proven Strategies! New and Improved Ways for Busy Times of 2019 and 2020! Great to Listen in a Car!
Dropshipping: Create Passive Income with E-commerce and Shopify Step by Step by Proven Strategies! New and Improved Ways for Busy Times of 2019 and 2020! Great to Listen in a Car!
