Data mining apps for the e-commerce sector help companies analyze large amounts of market data to make more informed business decisions. Data mining apps collect and process consumer behavior statistics, demographic reports, price comparison reports, and product reviews in an easy-to-read interface that can be shared with management teams. E-commerce managers can use a data mining app to compare business performance against industry averages or set goals based on previous sales volume.
Data mining apps for e-commerce follow a similar design to most other e-commerce apps, including retail management apps, loyalty programs, and coupon apps. RetailMeNot and ShopSavvy are popular data mining apps.
A data marketplace built for the e-commerce industry that allows people to advertise certain data sets from users to enterprises.
An e-commerce app can grow rapidly by targeting a specific type of user and gaining their trust. Data mining apps must be able to show that they understand the needs of consumers and that they have valuable information about consumers' habits and interests. Data mining apps need to appeal to users who are willing to continue using the app in exchange for valuable information.
Data mining apps, or any app that relies on collecting or processing user data for commercial use, should take extreme care to ensure they are in compliance with the law. Data collection can come under scrutiny by privacy agencies, particularly if there is no clear disclosure of how users’ data will be used. The European Union’s (EU) General Data Protection Regulation (GDPR) rules are strict about the collection and usage of user data, but it is important to note that GDPR is not yet final and its application may differ across countries.