by Ty Hardison

Big Data will become bigger part of e-commerce in 2013: How do payment solutions fit in?

New Years predictions are common this time of year. Experts across a number of industries take this week as an opportunity to look into the immediate future and project what changes or trends we will experience in the next 12 months. A recent article in Forbes takes a look at the e-commerce industry and makes 10 bold predictions for 2013, a number of which B2B vendors should be cognizant of.

As online shopping becomes an increasingly popular practice for corporate procurement specialists, it's up to vendors to provide an e-commerce experience similar to that in the B2C sector. That's why new e-commerce trends are important to stay on top of.

According to the news source, big data will become a major part of the online vendor's lexicon next year, as companies capitalize on an abundance of digital information and use that to accurately cater their offerings to specific customer groups. Paul Dunay, the author of the article, suggests that while big data has been a buzzword around business proceedings for years, 2013 will be when the e-commerce seller finally grasps its true meaning and uses it to its full potential.

"Most businesses have an abundance of useful data, however, very few are using this data to provide targeted individual experiences at the right time to respond to savvy consumers' needs," Dunay writes. "In the coming year, expect to see more brands getting a handle on big data to deliver to customers more targeted offers across all channels in real time."

This is all well and good, but those processing B2B payments cannot forget the importance of data security as well. A system designed to let information reach its potential will only be successful if that information is properly protected. That is why tokenization is a valuable tool. It will keep sensitive data off-site, thus protecting it from a malicious targeted attack, while allowing vendors to take full advantage of it to improve their own products and services.

by Ty Hardison

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