This Tuesday marked the third Amazon Prime Day, a self-proclaimed holiday which analysts estimated would equate to $1 billion in sales for Amazon in online retail. Analysts predicted a 55% increase over 2016 results. Amazon outperformed with a 60% increase in sales—the largest shopping day in its history. I’ll admit I participated with the purchase of a new blender, and I can’t wait for it to arrive in Amazon’s promised three-day delivery window.
While the revenue statistics are shocking in their own right, when you consider the amount of data involved in these 30 golden shopping hours, it’s even more incredible. Amazon reported somewhere in the neighborhood of 6,000 deals per minute and 3.5 million toys purchased worldwide. These transactions not only impact Amazon, but also all the vendors associated with the online retail giant that benefit from successful sales of their products using the Amazon platform.
As of January, an estimated 398 million products were listed on Amazon.com. One of the main drivers of Amazon’s success is its customer satisfaction. The company highlighted its #1 status in the American Customer Satisfaction Index in its latest quarterly report. Crucial to customer satisfaction is the ability of online retailers to make use of big data including:
- Generating recommendations to help shoppers find similar products and direct their searches
- Forecasting trends to adequately plan for demand of products
- Optimizing pricing to determine the appropriate discounts to generate the shopping frenzy of Amazon Prime Day
- Social listening to understand consumer sentiment and predict top-selling products
- Providing a seamless ordering and delivery process to foster loyalty and encourage return visits
Behind all successful online retail organizations is the infrastructure to analyze, store, and protect their data. As customer demands dictate more savvy use of data, companies must constantly evaluate their data storage strategy and infrastructure to ensure cutting-edge performance and return on investment.
You may not be Amazon, but you’re still trying to figure out how to get the most value out of your digital data, and ensure it’s stored and protected. That’s where we come in.
As a data storage expert, Quantum can provide scale-out storage solutions for high-speed performance and management of big data, backup storage options for comprehensive business continuity and disaster recovery (BCDR) plans, and answers for cost-effective, long-term archive.
The data explosion is here to stay. Is your company ready?