HC3152 E-Business Applications Assignment Help
1. Select an E-commerce business to be the focus of this assignment from the below list only:
2. Briefly describe the current operation of your selected E-commerce store.
3. Why is the Artificial Intelligence important for your business survival?
4. How your chosen business uses Artificial Intelligence?
5. Conduct a further research in the peer reviewed recent journal articles in ProQuest or other reputable journal database to find at least Five (5) articles relevant to the assignment.
6. The ideas from these articles will be incorporated into the discussion in the main assignment.
7. An attachment to the assignment will list the correct Harvard referencing of each of the journal articles and a brief outline of the key points in the journal article that are relevant to the assignment. Do not summarise the journal article. Identify the key points and briefly describe them and their relevance to the assignment.
8. You should review and refine your refinement and polishing of the ideas and the communication of ideas, prior to the submission of the report.
9. Your report must lead to recommendations on how your selected E-Commerce store can become more effective through the use of internet technologies.
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E-Business Applications
Introduction
Artificial intelligence is also known as machine intelligence (AI), it is a type of intelligence that is explained with the help of machines. It explains cognitive functions that are denoted as problem-solving methods. In the modern era, the importance of artificial intelligence for the businesses has increased at a faster pace especially for the e-commerce businesses and at the same time they are able to conduct the business practices efficiently in the market. This form of technology is supporting businesses where it is possible to introduce new form of products and services in the market and at the same time companies are able to gain competitive advantage also.
The present report is based on Amazon Australia where the company is considered to be one of largest retail that offers its products with the help of online platforms. The company was founded in the year 1994 and it is headquartered in United States (Neate, 2019). The key products are Amazon Fire, Echo, Fire OS, and Kindle etc. The report focuses on highlighting the operations of the firm, use of AI in the firm etc.
Main Body
Current operation of Amazon Australia
The Amazon Company is founded on July 5, 1994, and the founder is Jeff Bezos. It's headquarter is situated in Seattle, Washington and Arlington. The various products available on Amazon are books, audible devices, electronic materials, personal computer, offices, house, kitchen, products of health and beauty etc.
The company begin its operations as bookseller, simple in nature, and over many years has made many branches into additional various areas of products. The firm is a kind of party known as third party sales that give a good and effective representation of the revenue. The retailers and people selling individually are utilizing the famous platform of Amazon.com to further sell the goods and products. The large retailers such as Nordstrom and target are using Amazon.com to sell the effective products and they have another source of selling products on their own websites (Neate, 2019). The company importantly leases more space to retailers; the various small sellers of newly introduced goods are going to Amazon marketplace, Amazon auctions. The marketplace has various sellers that are offering goods at a fixed rate and at the time of auctions they are selling the stuff to highest bidder. The various features of Amazon z Shops uses only goods and products at fixed rates, if a specific item is listed on z shops, auctions will also be sold to the Amazon.com. It is mentioned in a box besides the items of the Amazon.com so that the buyers can watch if some other person sells a product for less in some other respective channels of sales. The specific level of integration that is shown on Amazon is a means of programming feat that some online sales websites can be matched. The other type of sales channel is known as Amazon advantage, this is a specific place and here people can do selling of new types of books. They can also sell music, movies using the direct source of Amazon warehouse instead of using house or stores. Sellers are shipping various units to Amazon and the company is handling entire sales transaction that is from beginning to the end. In all of the respective programs, Amazon is provided with cut of each sale and sometimes charges are made on addition based listing, or the fees of subscription (CANSTAR Blue, 2018).
In the Amazon advantage, the firm is taking a commission of fifty five percent on each individual sale. The advantage channel is also demonstrated as a consignment setup, a avenue of sales for the people that are presently creating their music CD's and done self publish of various books. They are making the easy and simpler way, the name of a subsidiary company is also known as Amazon services. With the help of Amazon services, the company sells its platform of sales, provides entire company e-commerce packages to companies that are looking after to make establishment and revamp their owned business of electronic business. Amazon are setting up entire websites and backbones of technology for various other companies of electronic commerce and uses software's of Amazon and technology. The services of Amazon are used to build and simply manage their own e-commerce site, Target.com. The selling of good and products is not only the particular way to make money with Amazon.com. The affiliate program of various websites is very famous on web. With the help of Amazon's associate program any person can use a website and make a post of link on Amazon.com. The results obtained are that the person easily earns money. The link displays on individual product that is selected by the associate and it lists various best seller products in a specific genre (Layton, 2018). The list is updated by Amazon; it is executed in preset intervals. The associate receives a cut of any particular sale that is directly associated through that link. The company has a specific fee structure that is related to signs up; the associate can take benefits from Amazon web services. This is a specific program that lets people utilize Amazon's utilities to fulfill their own needs and purposes.
Artificial Intelligence importance
In the modern era, AI has become quite important for the firm like Amazon for its growth and survival. Further, in the Australian market almost every firm has adopted this concept for conducting its operations in the market. One of the main significance of AI for the business is that it helps in providing personalized shopping experience to the customers. It is a well known fact that every company focuses on delivering some unique experience to its target market. So with the assistance of artificial intelligence personalized shopping experience is delivered that helps in meeting with the expectations of the target market (Del Rowe, 2016). For the businesses AI helps in enhancing the level of the brand loyalty where large number of people prefers to purchase the products on a continuous interval of time. Hence, this is the main effectiveness or significance of AI.
Artificial intelligence is important for the business survival as through this real time assistance is provided to the target market. Amazon Australia can easily communicate with the different form of customers on daily basis and at the same time business performance easily improves with the help of this. For instance, in order to deal with the customer query and taking orders from the customers company can easily rely on AI and this provides competitive edge over the rivalry also. Hence, real team assistance also represents the key significance of AI for the selected entity.
From the operational automation point of view AI is significant for Amazon Australia. The best part is that AI can be easily utilized for the automation purpose for instance it can support in controlling the robots that are used in the factories and through this human efforts decreases which is quite fruitful for the organization. Further, it has been identified that without proper automation processes no business can survive in the market and this is only possible when right AI approach is utilized in the firm (Lin, 2018). In short, AI allows to improve performance of the organization and at the same time processes are carried out with high quality.
For determining the future performance of the business AI is considered to be highly significant for the entity (LINNWORKS, 2019). For instance, if company has collected data regarding sale of its new product then on analyzing the information it will be possible to know whether products will be sold in near future or not. In short, trends are represented with the help of AI that helps in knowing the future growth prospects of the business in the market. This also represents the true importance of AI for the selected enterprise.
From the recruitment point of view also AI is very significant for the firm. The best part is that it allows in the automation of the recruitment process and at the same time hiring becomes easy. This directly saves time associated with recruiting the staff members in the workplace and at the same time favorable results are obtained with the help of this. No discrimination or sort of biasness is present at the time of short listing and this is the key advantage associated with AI for the business. In short, without AI recruitment related practice of the organization cannot be carried out in a proper manner (Gupta, 2015). At the time of hiring professionals and other form of staff members the company has to face difficulty in finding the right candidate who is suitable for the job. Moreover, short listing candidate is also one of the toughest tasks and in this case AI directly contributes in supporting the firm to recruit the candidate that can fit with the business need.
In order to reduce the errors in the business operations AI is considered to be highly significant for the firm. Many time employees are held liable for some errors in the operations. Hence, in this case AI is highly preferable for the business where all the decisions are taken on the basis of available data that is valuable for the organization. Hence, this is also the key significance of AI within Amazon Australia. For instance, considering the case of Amazon AI recruiter which was mainly gender biased and at the same time the entire system was trained to assess the key applicants on the basis of observing patterns in the resume (Neotric, 2018). On the other hand, in the case of AI it is very less biased and at the same time it is accurate also. In short, no human being can be as accurate as AI.
For enhancing the customer experience AI is significant for Amazon Australia where it helps in delivering right products to the target market as per their expectations. Without AI company cannot meet the expectations of the target market. Hence, in this way these are some of the reasons that highlight the key importance of Artificial Intelligence in the business.
How chosen business uses Artificial Intelligence?
The company like Amazon in the Australian market conducts all its operations on wider basis. AI is utilized by the firm in its business operations so as to meet with the expectations of its customers. One of the key ways is that Amazon is utilizing AI for customer centric search where it supports a lot to provide competitive advantage (mid-eastinfo, 2016). It is possible for the customers of Amazon to easily search for its products and services and at the same time they can easily enjoy the shopping experience also that matters a lot.
Secondly the company is utilizing AI for retargeting the potential customers through which its revenue and profitability level has increased at a faster pace. No doubt, every firm has to face challenges in relation with targeting its customers properly. But after the introduction of AI it has become quite easy for Amazon in the Australian market to retarget its potential customers. For instance, if any specific customer is purchasing any product from Amazon then in such case the data in relation with that is stored and this supports the company to serve right customers and their purchase behavior is also known (Technavio, 2019).
For the identification of the exceptional target prospects AI is utilized by Amazon in the Australian market. Several business challenges are solved by the firm with the assistance of artificial intelligence such as lead generation. Amazon is able to know which type of customers can be targeted in near future and the kind of benefits that can be obtained by the firm through this. So, this is also highly significant for Amazon where the company can easily grow in near future also by targeting the right customers who can purchase the products of the entity.
For developing more efficient sales process the company is making use of AI. Amazon has integrated AI into the CRM and the main advantage is that it is possible to answer the query of the customers in shorter time period. On daily basis Amazon is able to solve problems and doubts of different customers that is associated with products and this helps a lot in enhancing the satisfaction level of the target market. AI driven CRM conducts various tasks and it is also able to conduct the different functions of the business efficiently. For better understanding of the customer requirement AI is used by the firm and it contributes in the success of the organization. Gone are the day where company has to apply higher efforts in understanding about the customer expectations but now AI has assisted in knowing the exact need of the target market (Lu and et.al., 2018). The chances of offering inappropriate products to the target market have increased with the adoption of AI and through this the customer base of Amazon Australia has also improved.
In terms of personalization also Amazon is utilizing AI where high level of personalization has been witnessed to boost the customer experience. Whether it may be mobile application or website of Amazon customers are easily interacting with the online channels in a better way. So, this is also fruitful for the business and this has assisted Amazon in gaining competitive advantage over the rivalry that matters a lot. Further, without proper personalization it is very difficult for the firm to meet with the expectations of its customers.
Amazon Australia is utilizing AI for empowering the store workers. Different store workers are easily interacting with the customers for instance, the workers are interacting with the customers by offering them products and services at their home. So, this is also beneficial for the workers as they are able to know the actual perception and preferences of customers towards their products. Store workers consider interaction with the customers to be highly meaningful.
AI is utilized by the company for providing recommendation to the customers. AI can efficiently scan through petabytes of data so as to know about the customer behavior. So, this kind of intelligence is highly effective in delivering personalized experience to the target market (Peng Qin Tang and Deng, 2016). At the same time personalized suggestions is provided to the customers so that they can shop the right products. So, in this way these are the key practices that are utilized by Amazon and it represents the way in which AI is utilized within the selected firm.
Conclusion
Hence, from the entire research it can be stated that all the operations carried out by Amazon in Australia are highly crucial. Further, AI is utilized in the firm in the different areas such as for delivering personalized experience to the customers, determining their needs, solving their queries etc. Moreover, AI is significant within the business as it supports a lot in providing remarkable experience to the target market and their expectations are met easily. In short, without the assistance of AI Amazon cannot conduct its operations smoothly. Queries and doubts of customers are easily resolved by the selected firm through the adoption of AI practice.
Recommendation
On the basis of research some recommendations are present to Amazon for better utilization of AI and they are as follows:
- On the continuous basis training and education must be carried out within the firm so that employees of the company can understand about the AI tools easily.
- The second main recommendation is to recognize the social risks well in advance that are associated with the AI.
- Improving the treatment of data is also main recommendation to the firm as in the case if data is analyzed and treated properly within the business then it will bring favorable results. So, this will allow in serving customers efficiently.
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