Data-Driven Personalization in the Sharing Economy

Abstract

The advent of big data has completely changed the sharing economy and allowed businesses to provide highly customized experiences for their clients. This study explores the relationship between big data analytics and the sharing economy, focusing on peer-to-peer companies like Uber, Airbnb, and others. Businesses can obtain profound insights into their customers' interests, behaviors, and trends by leveraging vast user data. The use of big data analytics enhances customer satisfaction and boosts engagement and loyalty by helping visitors feel more understood and valued. This customized approach provides a competitive advantage in the crowded sharing economy market and boosts good word-of-mouth and retention rates. Businesses must embrace transparent and responsible data practices to guarantee that consumer data is safeguarded and managed according to regulatory standards. This means obtaining users' permission, protecting privacy by anonymizing data, and keeping robust cybersecurity defenses against data breaches.