Retail Shop

Artificial Intelligence And Retail

Posted on Posted in Uncategorised

How to create a game changing AI solution for retail?

Businesses today are realizing that they can use machine learning to improve customer experience.

Let’s do a case study:

Goal: Adapting your marketing strategy based on customer’s behaviour.

Solution:

Let’s imagine for a moment that we have a system that can:

Analyse your customer purchase and give you prediction based on their social media profile.

Automatically find and recommend products, based on customer information, on a one-to-one basis.

And manage your shelf display mapping based on the best possible products bundle strategy.

Sounds fantastic right? This would help lots of businesses and will allow personalized recommendations for customers, we can even estimate a time when a customer is more likely to re-buy the product.

The best solution to develop such a system is AI, you got it right!

It is true that stats-based software (association rules, for instance) can do a lot to improve a retail business but there is no way to connect with information coming from social networks for instance. In fact, as soon as you want a personalized communication with your customer, forget about stats. AI-based solutions are needed,…definitely!

AI is good for multiple things, it is particularly good at making accurate decision and predictions, based on your data, even if you have few related data as it is often the case when you start a new product or you have to interact with a new customer. Artificial Intelligence can do thing human struggle with and spend long hours doing.

Manual calculations and human predictions are now removed from the equation, everything could be done dynamically with the ability to adapt.

If you want to know how we can design an AI solution for your business, get in touch with AI Consulting