Meaning ● Predictive Analytics in E-commerce, as leveraged by SMBs, constitutes the application of statistical techniques to analyze historical e-commerce data – sales figures, customer behavior, website traffic – for forecasting future trends and outcomes. Specifically, it fuels informed decision-making around inventory management, personalized marketing, and optimized pricing strategies within the SMB’s e-commerce operations. Employing these models offers smaller businesses a competitive advantage by anticipating customer needs, thus enhancing conversion rates and overall profitability, whilst potentially automating many decision based actions.
