In my last post we talked about predictive Analysis but I think that is just one end of the spectrum if we really need to dissect the market and provide innovative solutions then we have to develop a ECO system around the product that you are selling.I have been doing some market research for eCommerce application, while there are many tools available in the market to setup a store online and sell products but there is no company that integrates everything to offer to a customer.For example eCommerce store can be integrated with analytics engines to to understand site and customer behavior we can track the ad word campaigns and sales funnels to see what workflow works best for our site and what promotional campaigns are getting the most hits.
E commerce applications now need to be integrated with Facebook storefronts and online giants like amazon and eBay for cross channel sales integration.
Market is going mobile so goes without saying that a mobile app is needed for any product that is being offered to the customer.Now once we have all the components integrated then we start collecting data and feeding it to a predictive engine to forecast inventory and customer behavior based on all the historical trends.
I therefore feel that if we have to be successful in launching a product then we have to develop a ECO system around it
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