While alternative data has already entrenched itself in the financial sector, others have been adopting it more slowly. There is, however, one other sector that has been investing a lot of time and resources into alternative data – ecommerce.
Applications of a new type of data in finance are clear. Yet, how and why alternative data gained prominence in e-commerce might be more of an enigma to most of us. In order to uncover the secrets, Oxylabs cooperated with Censuswide and surveyed UK e-commerce company decision makers.
Alternative data’s rising importance is clearly outlined in the answers provided by decision makers. However, its integration into company processes hasn’t been as straightforward as one would expect. E-commerce companies, in large part, are aware of the benefits of alternative data, but are struggling to fully harness its power.
Retail and e-commerce sectors were among those most affected, both positively and negatively, by the COVID-19 pandemic. Businesses had to undergo massive changes or be swept away by the changing landscape. As a result, we can see that a large portion of companies are now attempting to optimise their performance through newly available data sources on the web.
Tomas Montvilas, Chief Commercial Officer at Oxylabs.io
What can you expect from this white paper?
- How widespread is the use of alternative data?
- How has the COVID-19 pandemic impacted the data collection practices and budgets?
- What are the primary methods for data collection?
- What are the most common challenges?
- What are the sector’s perceptions of web scraping?
- What are the sector’s data strategies for the upcoming year?
Download our white paper to get all the details on how alternative data is used in e-commerce and how you can apply the same principles to your business.