|Type of paper:||Critical thinking|
|Categories:||Information technologies Walmart Business management Business strategy|
In the modern world, the emergence of new business has escalated competition among existing business. As such, businesses with the aim of thriving in stiff competition must adopt and implement modern technology. One of the areas that business needs to incorporate technology is ways of retrieving information from their database. Information overflow for a business organization has become an issue that needs to be addressed if the organization is to thrive in the competitive world. The issue of information overflow can be solved by business organization implementing new online search technologies that improve how the organization conducts its business. For instance, Walmart.com, an online selling business organization adopted a new method of search technology and it has so far helped the organization to improve its profit margin.
Walmart.com implemented a new search technology which is based on semantic search (Ribeiro, 2012). In simplified terms "semantics" refer to meaning. According to Rennison (2012), semantic search technology employs machine intelligence to tell the intended meaning of the search words. The semantic search technology uses algorithms to understand and mine for the search queries by figuring out the user's intent and deliver the required results. For instance, the Walmart.com uses semantic search technology to ensure that customers can easily search for items from their online website. For example, when a customer types in "patio furniture" the semantic technology displays backyard furniture alongside with banners of items the customer may as well consider purchasing.
Walmart.com, as well as other business organizations, use the semantic search technology because of its various benefits. Firstly, organizations use semantic search technology because it promotes flexibility of integration approach (Nigam, 2017). Semantic search technology usually facilitates better integration of the diverse information compared to conventional IT Systems. Unlike other common IT Systems, semantic search technology allows changes without requiring the experts to do the schema. The ability of semantic search tool to execute and allow information changes enables organizations to add information without wasting time and without adding unnecessary cost.
Additionally, business organizations are using new search technologies because they easily connect with processes, data, and content (Nigam, 2017). The semantic search technology achieves the objective by adding contextual data to the user's search words thus allowing easier retrieval of data from the system. As such, the semantic search technology process required information quickly because it utilizes auto intelligence that avoids the traffic of information to and from the system.
Another benefit of using the new search technologies is that it promotes a user-friendly interface (Nigam, 2017). For instance, consumer-organization interaction is enhanced by semantic search technology. For example, when the customer is searching for a smart TV, the systems will only display results of available smart TVs. This friendly interface allows customers to shop at ease thus promoting a good business relationship between the business and its customers.
One of the metrics that an organization can employ to evaluate the effectiveness of the search technologies is the conversion rate. Conversion rate refers to the number of users who used the search technology and later purchased the item ("Measure your website's success", 2019). If the conversation rate is high, then it implies that the search technology being used by the organization is effective.
Another metric to evaluate the effectiveness ofthe search technologies is the bounce rate. The bounce rate refers to the use of web traffic to measure how long visitors stay or leave the site ("Measure your website's success", 2019). If the bounce rate is high, then it means that customers are accessing the site but it does not deliver according to their expectations. On the other hand, if the bounce rate is low, then it means that technology is meeting the customers' expectations.
Also, the organization can evaluate the effectiveness of the search technologies by measuring the loading time. The page load time refers to the average time taken for a web page to load and display the user's search information ("Measure your website's success", 2019). According to studies, fast loading time usually reduces the bounce rate and therefore, improving the user's experience. If the loading time of search results is slow, it means that the search technology being used is not effective.
By employing search technology, a business organization can improve and expand in major areas. One of the areas that business can improve is on intelligent decision making on the services to offer to its customers (Nigam, 2017). Through the search results, the business organization can easily acquire information on the major services and goods to concentrate on. For instance, when the business receives traffic of searches of a certain commodity, the business should increase their stock on the commodity to ensure they meet their customer demands as well as increasing their profit margin.
In conclusion, search technologies are essential digital tools for the success of a business organization. Different organizations use different types of search technologies. One of the common search technology used by organizations is the semantic search technology which makes it easy for the user's to search and purchase goods from an organization. The benefits of semantic technology include flexibility, user-friendly, and also allow easier connection of processes, data, and content. Additionally, organizations can evaluate the effectiveness of the search technologies by measuring the bouncing rate, conversion rate, and page loading time. It is recommended that organizations implement search technologies because it helps them improve their profits and relationships with their customers.
Nigam, S. (2017). 3 Things you must know about Semantic Search Technology. Retrieved from https://towardsdatascience.com/3-things-you-must-know-about-semantic-search-technology-3fbe56206a55
Rennison, E. (2012). 5 Ways Semantic Search Will Disrupt Business. Retrieved from https://www.forbes.com/sites/ciocentral/2012/06/20/5-ways-semantic-search-will-disrupt-business/#3200a1ae47e5
Ribeiro, J. (2012). Walmart rolls out the semantic search engine, sees a business boost. Retrieved from https://www.computerworld.com/article/2491897/walmart-rolls-out-semantic-search-engine--sees-business-boost.html
Measure your website's success. (2019). Retrieved from http://www.business.vic.gov.au/marketing-and-sales/eCommerce-and-digital-technology/web-analytics-tools-and-tactics/measure-your-websites-success
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Essay Sample on Growing the Business with Search, Semantic, and Recommendation Technologies. (2022, Nov 30). Retrieved from https://speedypaper.com/essays/growing-the-business-with-search-semantic-and-recommendation-technologies
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